Chevy Bolt buyers to get retroactive discounts ahead of price cut

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Jessica Thompson

Jessica Thompson, a 35-year-old automotive enthusiast and mother of two, co-founded CarGirls.ca to empower and educate women about the automotive world. Jess's passion for cars started in her father's garage, learning the mechanics of automotive repair. With a degree in Mechanical Engineering, Jess has extensive expertise in automotive design and technology. She enjoys attending car shows, racing her custom-built Mustang, and teaching her kids about car maintenance. Jess is dedicated to inspiring and supporting women in their automotive journeys.

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After lowering the price of the Bolt EV and EUV by about $6,000 for the 2023 models, Chevrolet plans to compensate customers who paid more for the vehicles this year.

All U.S. customers who bought a Bolt EV or EUV in 2022 are eligible for reimbursements, Chevy said this week in a memo to dealers seen by Automotive News. New vehicles from the 2022, 2021 and 2020 model years qualify as long as they were purchased during this calendar year. Leases are excluded.

“A small number of Bolt EV and EUV customers purchased their vehicles in [the] 2022 calendar year, when incentives were low due to limited inventory. As a result of the price reduction announced on the 2023 Chevrolet Bolt EV/EUV, we want to make sure these customers are satisfied with their purchase and ownership experience,” Chevy said in a statement confirming the move to Automotive News. “We will be reaching out to them in the coming weeks to inform them of a goodwill program that will provide reimbursements to make up the price difference.”

Such retroactive incentives are rare as automakers frequently change prices and discounts available to customers. Chevy’s move suggests an effort to avoid irking early EV buyers ahead of a large-scale rollout in the coming years.

Chevy will send eligible customers letters with instructions for requesting a reimbursement, the memo said. The reimbursement amount depends on multiple factors, including model year and trim level.

The brand’s move to cut the Bolts’ price by about $6,000 for 2023 comes as it aims to bolster their sales while also preparing to introduce electric crossovers powered by GM’s Ultium batteries. The 2023 Bolt EV will start at $26,595, and the larger Bolt EUV will start at $28,195.

Chevy sold 358 Bolt EVs and EUVs in the U.S. during the first quarter. The brand plans to report second-quarter sales Friday.