In the wake of Tesla announcing a $6000 price hike on some models, GM is raising prices on some EVs, but SLASHING them on others!
Citing rising supply chain, material, and logistical costs, GM announced that it will be raising the MSRP of its hot-selling GMC Hummer EV by as much as $6,250 as it enters its second model year— but, having learned the lesson of the price-hike debacle at Rivian, GM’s price increase will not impact the current Hummer EV reservation holders.
On the other side of the electric pricing spectrum, anyone shopping the entry-level GM EV— the Chevy Bolt and Chevy Bolt EUV twins— will be getting an absolutely killer deal. That’s because, as of June 8, all of the remaining 2022 Bolt EVs became eligible for a $5,900 rebate, while the taller Bolt EUV gets an even bigger rebate worth $6300. Both of those apply to purchases only, not leases, according to CarsDirerct.
Chevy Bolt Gets Huge New-car Discounts
If you’re willing to go for a 2021 mode, Chevy is discounting any remaining new 2021 Bolt EVs in dealer inventories by as much as $12,900, which can be combined with a $3,750 loyalty discount for current Chevy EV lessees. And, in today’s red-hot EV market, that alone is news.
As much as anything else, we see the moves as revealing something about the relative fortunes of two different market segments in the US. The premium SUV and new pickup truck markets are on fire (pardon the expression), with some models facing years-long wait times. On the other hand, compact, highly-efficient hatchbacks and sedans are being rushed out the door— presumably to make room for more high-priced EVs!
What do you guys think— is GM doing the right thing by getting more EVs into the hands of more people, especially as gas prices continue to surge, or is demand for the Bolt really so low that even massive discounts may not be enough to get them on the road? Scroll on down to the comments and let us know.
SOURCES: GREEN CAR REPORTS, CARSDIRECT.