GM confirmed the base price of the Chevy Bolt EV today. It reiterated that it will start at $37,495 before any EV incentives for the base LT trim. And now, the automaker also confirmed the price for the Canadian version of the car.
Surprisingly, it will be significantly cheaper in Canada and I’m not talking about electric vehicle incentives.
Advertising the price with incentives can be misleading since eligibility can depend on both the automaker and the buyer. It’s something that GM has been doing since introducing the Bolt, but now that it’s closer to production, the company has been relaxing its use of the sales tactic.
Nonetheless, it already has an impact on the less-informed media. Like Engadget who published today that the Tesla Model 3 is $5,000 more expensive than the Bolt EV based on the Bolt price after incentives and the Model 3 price before incentives:
It doesn’t include all the nuance of the federal tax credit program phase out. A vast majority of Tesla Model 3 buyers in the US will have access to the full tax credit and all of them will have access to at least a partial credit – if they are themselves eligible.
Now back to the Chevy Bolt EV in Canada and again before incentives. GM confirmed today that the Bolt will start at $42,795 CAD or $32,400 USD. That’s significantly cheaper than the $37,495 USD MSRP in the US.
Furthermore, GM only offers DC fast-charging as a $750 option in the US, but it will be standard in Canada. It means that after the exchange rate, the Bolt EV is about $5,850 USD cheaper before incentives in Canada, which is really surprising.
Now if we go back to incentives, while it has not yet been added to the lists of eligible vehicles, it looks like the Bolt EV will receive direct incentives of $12,839 in Ontario, $8,000 in Quebec and $5,000 in British Columbia.
GM says that the Bolt EV will be “arriving at Canadian dealerships in early 2017”.