Cheapest New Electric Car Is Even Cheaper in 2023
There is an abundance of electric cars available — as the EV wave plows forward. While electric vehicles have many benefits, such as zero emissions, quick acceleration, and a quiet ride, one of the drawbacks is they tend to be expensive. However, there’s an affordable option. It’s the 2023 Chevrolet Bolt EV subcompact hatchback, the cheapest new electric car. Also, with a price drop for the new model year, the Chevy Bolt EV is even cheaper in 2023.
2023 Chevy Bolt EV is the cheapest new electric car
With a starting price of $26,500 MSRP, the 2023 Chevy Bolt EV is the cheapest new electric car available in America. The next most affordable new electric vehicle is the 2023 Chevrolet Bolt EUV ($27,800 MSRP), the crossover SUV version, followed by the 2023 Nissan LEAF compact hatchback ($28,040 MSRP).
Here are the 10 cheapest new electric cars:
- 2023 Chevy Bolt EV: $26,500 MSRP
- 2023 Chevy Bolt EUV: $27,800 MSRP
- 2023 Nissan LEAF: $28,040 MSRP
- 2023 MINI Cooper SE: $29,900 MSRP
- 2023 Hyundai Kona Electric: $33,550 MSRP
- 2023 Mazda MX-30 EV: $34,110 MSRP
- 2023 Volkswagen ID.4: $38,995 MSRP
- 2023 Kia Niro EV: $39,550 MSRP
- 2023 Hyundai Ioniq 5: $41,450 MSRP
- 2023 Tesla Model 3: $42,990 MSRP
Please note: These prices don’t include the federal EV tax credit or any potential dealer markups. However, in terms of starting price, the Bolt EV is the most affordable new electric car.
Chevy Bolt EV received a major price cut in 2023
With high inflation, the average price of cars reached a record high. New vehicles are not affordable for many people — especially electric cars. However, in a rarity for times of high inflation, the Chevy Bolt EV received a major price cut in 2023. Compared to the 2022 version ($31,500 MSRP), the 2023 model is $5,000 cheaper.
There are a couple of possible explanations for the dramatic price cut. The Bolt EV and EUV were plagued by fire issues from a battery pack issue. While the fires were only for a tiny percentage of the models, out of an abundance of caution, there was a recall. The price cut measure might be Chevrolet’s attempt to earn back some goodwill in the face of bad publicity — and attract customers.
Also, the Bolt EV and EUV will be discontinued — with production slated to end later this year. Chevrolet and GM are making way for other electric cars.
Are there any other changes for the 2023 Bolt EV?
Beyond being cheaper for the new model year, the 2023 Bolt EV doesn’t have many other changes. It’s primarily a carryover model. One change is the addition of the new Radiant Red Tintcoat exterior paint color option. There are also a couple of new accessories: an illuminated charge port and front and rear floor liners.
The 2023 Chevy Bolt EV is one of the few electric vehicles that’s affordable. It’s the cheapest new electric car — and with a drastic price cut, it’s even cheaper in 2023. However, with its upcoming discontinuation, the budget-friendly EV won’t be available for much longer.
