AUTO

Why the Chevrolet Bolt EV Still Remains the Cheapest Electric Car Despite Recalls

August 19, 2024

Used Chevrolet Bolt EVs are available for under $10,000, making them a budget-friendly electric vehicle option.
The Bolt EV has had multiple recalls, including a recent one for 2020-2022 models due to software issues.
GM plans to launch a new, affordable Bolt EV with Ultium technology and LFP batteries by 2025.

The Chevrolet Bolt EV remains the most affordable and practical electric vehicle on the market. Even though GM has stopped making the Bolt EV, it still grabs attention from people who want to enter the electric car movement without spending too much.

With used models selling for under $10,000, it’s clear that the Bolt EV has carved out a unique space in the market. But before you rush to grab a deal, it’s worth considering the full picture, including the vehicle’s recall history and the implications for future owners.

The Chevy Bolt EV: A Reliable Budget-Friendly Option?

Launched in 2016, the Chevrolet Bolt EV was quickly recognized as the most affordable electric vehicle in the U.S., making it accessible to a broader audience. Its combination of range, features, and pricing helped it become the best-selling non-Tesla EV in the country. Fast forward to today, and while GM has ceased production, the Bolt EV’s legacy lives on in the used electric car market, where models are available for as low as $9,000.

Used 2017-2019 Chevrolet Bolt EV on AutoTrader

For instance, a 2019 Chevy Bolt EV LT on AutoTrader, listed at $9,995 with just over 47,610 miles, is being sold for $3,837 below the Kelley Blue Book Fair Purchase Price. However, the fine print reveals that this pricing reflects minor to moderate cosmetic damage due to hail. While it might seem like a steal, potential buyers should consider the implications of such details.

But it’s not just the affordable price tag that makes the Chevrolet Bolt EV an appealing option. According to GM CEO Mary Barra, “We will keep the momentum going by delivering a new Bolt…and we will execute it more quickly compared to an all-new program with significantly lower engineering expense and capital investment.” This shows that GM is dedicated to the Bolt EV’s future, even as they focus on new models built on their Ultium platform.

The Recall Reality: What You Need to Know

However, affordability isn’t the only factor potential buyers should consider. The Chevrolet Bolt EV has had a history of recalls, with the most recent being the third recall for some 2020-2022 models. GM’s recent recall affects specific vehicles where diagnostic software was installed incorrectly, requiring a reprogramming of the Hybrid Powertrain Control Module 2, Battery Energy Control Module, and Body Control Module.

If you own a 2020 or newer Bolt, this recall might seem familiar. Back in 2020, GM issued a recall to fix battery defects by installing monitoring software. Unfortunately, two vehicles still caught fire, so GM had to expand the recall. Now, they’re implementing a new software solution that limits the battery charge to 80% while keeping an eye on it for any issues.

“The new Bolt will be ‘the most affordable’ EV on the market by 2025, Barra said. This should give you confidence as both a current and future Bolt owner, showing that the brand is learning from its past and planning for a more reliable future.

Balancing Affordability with Safety

While fewer than two dozen fires have been reported among the roughly 240,000 Bolt EVs and EUVs on the road, the issue is not one to be taken lightly. Most incidents involved 2019 models, with a few from 2017, 2018, and 2020. Owners impacted by the recall have and will receive notifications from GM, and those considering a used Bolt EV should check if the vehicle has been included in past recalls.

If you’re not worried about its recall history, the Chevrolet Bolt EV is one of the most affordable electric vehicles you can buy in the U.S. It comes with standard features like a 10.2-inch infotainment system with Apple CarPlay and Android Auto, full LED front and rear lighting, and impressive performance with 200 horsepower (149 kilowatts) and 266 lb-ft (360 Nm) of torque. With a new Bolt EV on the way, GM’s dedication to electric vehicles means the Bolt’s legacy is set to continue.

Looking Forward: What’s Next for the Chevrolet Bolt?

As GM ramps up production of its Ultium-based models, including the Chevy Silverado EV, Blazer EV, and Equinox EV, the Bolt EV’s future might seem uncertain. However, GM has made it clear that they plan to introduce a new Bolt next year, making it the first Ultium EV in North America to use LFP batteries.

If you’re weighing your options for a GM EV, leasing a 2024 Chevrolet Blazer or Equinox EV might be a smart financial choice for you. Both models come with substantial lease incentives, making them enticing options. They not only feature advanced Ultium technology but also benefit from improvements made after the Bolt’s recall history. This means you can enjoy GM’s latest electric vehicle advancements with added peace of mind.

For now, the Chevrolet Bolt EV remains a budget-friendly entry point into the electric vehicle market, but buyers should weigh the pros and cons carefully. Whether you’re attracted by the low prices or cautious about the recall history, the Chevrolet Bolt EV is a car that keeps making headlines—and that’s definitely worth noting.