If you’re in the market for a new electric vehicle in 2024, you finally have a wealth of options across most vehicle categories. Yet more than a decade into this period of rapid EV growth, there are still only a handful of entry-level options available in North America. Not everyone is in the market for the greatest high-tech gadget money can buy. The majority of buyers just want the best overall value for getting from point A to point B.
For years, the Chevy Bolt EV and EUV were the standard-bearers for many price-conscious buyers. With pricing that started at $26,500 and $27,800 respectively, very few electric models came anywhere close to matching the Bolt twins’ value propositions.
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The Chevy Bolt was a value winner
The affordable Chevy Bolt models were GM’s top electric sellers in 2023. But they are based on older technology and were money-losers for the automaker. With its relaunch in 2025, the Bolt will get numerous new EV and safety features.
Notice I said all that in the past tense, as the Bolt models were discontinued in 2023. They are due to be resurrected (in EUV form only) on the updated General Motors Ultium platform in 2025. Until then, a few thousand new Bolts are still for sale nationwide. And their value proposition gets even better for certain residents of the Golden State.
As EVLife recently reported, Californians who meet specific income, residency, and vehicle ownership requirements can take advantage of a mix of state and federal incentives to nab a new Bolt EV for as low as $8,000 or an EUV for as low as $9,300.
Following the Inflation Reduction Act of 2022, Chevrolet vehicles once again became eligible for the federal EV tax credit of $7,500. Thanks to the rollout of point-of-sale discounts, this can make the process even easier for buyers since they no longer wait until the next tax season to receive their rebates.
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Combining this with California’s Clean Cars 4 All program will earn the greatest benefit. If you have a functioning internal combustion engine vehicle (2005 or older), you can upgrade to a new EV or PHEV and earn up to $9,500. The highest benefit is contingent upon income and residency requirements, so buyers must confirm that they qualify for the program first. California residents can learn more about the program and participating districts via the California Air Resources Board website.
Finally, the Consumer Assistance Program offers vehicle retirement assistance of up to $1,500 for buyers who have an older operational vehicle that qualifies for retirement. Once again, eligibility for the max benefit is dependent on income levels so be sure to research the program to make sure you qualify by visiting the Consumer Assistance Program website.
The combined power of these three programs allows some prospective buyers to drive home in a new Bolt EV at one-third of MSRP. Of course, with production having already ended on the current generation of the Bolt, finding the car will become more difficult in the coming months. While a new Ultium-based Bolt is on the way, no timeline has been provided for its release as of yet. The incredibly specific nature of these programs also means that only a select few will qualify for all three.
So if you have been considering a Bolt EV purchase and can take advantage of the combined savings outlined here, now is the best time to pull the trigger.
Check out EVLife for more details and buying tips.
