The rebates in question are targeting Chevrolet owners that purchased a Bolt or its bigger sibling, the Bolt EUV in 2022. This period of time was when Bolt inventories were low due to the battery recall, and that was coupled with relatively few incentives for the EV. The high price tag at the time didn't help either and that all conspired to help create several hurdles for Bolt buyers to go through.
Which Customers Are Eligible For The Rebate?
As mentioned prior, the rebates will be going to buyers that bought a Bolt during the 2022 model year. That said, how much a buyer will get is dependent on several factors including what trim they bought at the time of purchase as well as model year with 2020, 2021 and 2022 models all being covered by this sweeping rebate program. Buyers that meet the bulk of the criteria could see a check as high as $6,000 which is how much GM slashed off the Bolt's price a short while ago with these models starting at $27,590. The bigger EUV also benefitted from the price cut but it'll still be slightly pricier than the standard Bolt with that model now starting at $29,190.
The main catch here is that the rebate program only applies to people who formally purchased a Bolt outright with lease buyers not eligible for the program. Chevrolet claims that an eligible buyer will see their rebate arrive in the mail in 12 weeks and the process to get one can be done entirely online.
Banner Year For Bolt
The rebates come amid Chevrolet's claim that it expects 2023 to be a strong sales year for the Bolt with Chevrolet selling 358 of them in the first month of the year before the company resumed production. While Orion Assembly is still slowly rumbling its way towards full production capability, Chevy is still confident that it will have enough time to surpass the 24,848 annual sale figure that the EV recorded before it was forced to cease production.
It will be interesting to see if the brand can hit that target or not, but we think they might be able to especially if the can keep a steady stream of materials flowing into the plant. This would not only allow production to further stabilize but also allow Chevrolet to maximize the profits from buyers looking to take full advantage of the lower pricing for both the standard model and the EUV.
Image Credit: Chevrolet/General Motors
Carl Malek has been an automotive journalist for over 10 years. In addition to his specialization with Ford, he grew up in a General Motors household and is extensively familiar with their products too. Contact Carl on Twitter at @CarlMalek3, on Instagram and Facebook for automotive news to send news tips.