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If You Want a Chevrolet Bolt, You Should Get One This Year

Motor Trend logo Motor Trend 4/11/2018 Motor Trend Staff
2017 Chevrolet Bolt EV Premier front three quarter in motion 01© Motor Trend Staff 2017 Chevrolet Bolt EV Premier front three quarter in motion 01

Officially, the Chevrolet Bolt starts at $37,495 including destination. But because it qualifies for a $7,500 federal tax credit, the base price is effectively less than $30,000. Further sweetening the deal, many states offer additional rebates or tax credits to reward buying electric vehicles. Once Chevrolet sells more than 200,000 fully electric and plug-in hybrid vehicles, though, that changes. According to official estimates, Chevy will pass that mark later this year.

"Our forecast will put us probably third quarter," Steve Majoros, Chevrolet's head of cars and crossovers, recently told reporters. "So if you were to run down the walk-down, that would give us the third and fourth quarter of this year at the full tax credit." That's because, as Majoros pointed out, the tax credit only gets cut two quarters after an automaker crosses that 200,000-unit threshold. "As you know, the wind-down is 50 percent [in the] first two quarters of next year, and then 25 percent in the last two. So it's a six-quarter draw-down. That's kind of where we stand right now," he said.

a car parked on the side of a road© Motor Trend Staff

Once the federal incentives run out, that doesn't mean Chevrolet will stop building electric cars. "We're just keeping a watchful eye on what winds up happening there," said Majoros. "There's a lot of conversation about, 'Is it going to extend? Is it going to change?' But whatever's going to happen is not going to change our philosophy on what we're building and what we're putting out there.

Those future plans include two new Bolt-based electric vehicles that should arrive next year, and by 2023, GM says its lineup will include at least 20 all-electric vehicles. But if you're considering buying a Bolt EV or Volt plug-in hybrid, you should probably do that before the end of the year. Otherwise, it'll cost at least an extra $3,750.

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