Chevy's looking to finish the quarter strong - or, as strong as it can.
We know there are only so many days left in March, and that here in the US, widespread business closures and and state- or county-wide shelter-in-place orders have made it difficult to buy a new vehicle. But if you've been waiting for a killer deal on a pure-electric vehicle, and you can manage to slip out to go to your local Chevrolet dealer for a hot second, now might be a great time to pull the trigger on a Bolt EV.
Chevrolet seems determined to end the quarter with the strongest Bolt sales it can muster, heaping extra discount on the subcompact battery-electric vehicle as March draws to a close.
The $8,500 in customer cash already offered has been met with a $1,333 discount off the purchase price, for a total potential savings of $9,833 on a 2020 Chevrolet Bolt EV Premier. For a lease, qualified customers can get in a Bolt EV LT for $199 per month for 36 months, with $2,769 due at signing.
Unfortunately, the amount of federal tax incentive that purchase stand to gain for the 2020 Chevrolet Bolt EV isn't quite what it once was. General Motors exceeded the 200,000-unit threshold for EV sales at the end of 2018, triggering the gradual ramping down of federal tax credits that GM's EVs qualify for.
As it stands, the 2020 Chevrolet Bolt EV qualifies for $1,875 from the federal government, which drops to no tax credit at all after March 31st, 2020.
Of course, there's a new-and-improved version of the Chevrolet Bolt EV coming for the 2021 model year, with a tweaked exterior design, and a dramatically improved interior. That's likely a large part of the impetus behind Chevrolet's new discount. What's more, the Bolt EV is soon to be joined by a new model - the Bolt EUV, or Electric Utility Vehicle - which could make selling 2020 Bolts even harder in the future.