Dealerships Are Giving $5000 Discount On Chevy Bolt EV - Here's Why

Mar 21, 2017 09:10 AM EDT | Ileen Jasmine

What It's Like To Drive The $29,995 Chevy Bolt EV!

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Good news, GM is giving $5000 discount on the Chevy Bolt EV right now. But there's a catch.

The good news-bad news situation surrounding Chevy Bolt EV today is reportedly because of the delay in deliveries. Surprisingly, the deliveries for the said electric vehicle went down to 952 units in the United States as of last month.

The good news is that dealerships are getting more inventory now. But they are heavily discounted in order to move the stocks of the said EV.

GM doesn't offer cash-back incentives to dealers on the Chevy Bolt EV unlike most of its models. This is why any discounts will come from the dealerships' own margins.

According to a recent report by Electrek, some dealers were hoping for a strong demand which could result in an opportunity to mark up the vehicle. At least, dealerships are hoping to do this for the first few months. Especially since the availability was limited to only California and Oregon.

The Chevy Bolt EV comes with a price tag which starts at the Manufacturer's Suggested Retail Price (MSRP) of $37,500. The same case can be said for a few well-located dealers trying to make easy money as well.

However, in a recent report by Automotive News, the website showed that most dealers were actually discounting the electric vehicle already. Some are even giving discounts as high as 10% off. An excerpt from the report reads: "At Harbor Chevrolet in Long Beach, Calif., all 21 Bolts shown on its website are discounted by at least $1,285. One Bolt Premier is $4,160 off, a nearly 10 percent markdown. Another nearby dealership listed 32 Bolts in its inventory, with two priced at discounts of more than $5,200."

What's shocking is that some Bolt EV are currently listed below the MSRP of $37,500. Some customers can purchase a brand new Chevy Bolt EV for less than $25,000 after the $7,500 federal tax and the $2,500 California rebate.

A statement from Harbor Chevrolet sales manager, Sergio Navarrete reads: "We price every single vehicle in inventory to move. Our business model is more geared toward volume vs. any one sale. Per unit we make less, but long-term it works out better."

For those who are looking to purchase the Chevy Bolt EV, now might be the time. Keep checking back on Auto World News for more updates.

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