At a time when new and used vehicles are selling at all-time highs, here comes Chevrolet with a significant price decrease. And we aren't just talking a few bucks either – EV shoppers will see upwards of $6,000 off the sticker price for both versions of the Bolt.

Chevrolet announced the pricing On June 1, effective for the 2023 model year. On the Bolt EV, the entry-level 1LT now starts at $26,595. That price includes destination charges, and it's a full $5,900 less than the previous model year. Stepping up to the 2LT trim also sees a $5,900 year-over-year price drop, starting at $29,795.

Chevrolet Bolt EV
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save over $3,400 on average off MSRP* on a new Chevrolet Bolt EV

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Those eyeballing the Bolt EUV crossover will see bigger savings for 2023. The base LT trim starts at $28,195, with the range-topping Premier's MSRP starting at $32,695. As with the Bolt EV, all prices include destination charges ($995). And the savings over 2022 on both trim levels is $6,300.

Why is Chevrolet taking such a big bite out of the Bolt's sticker price? According to a spokesperson, it reflects the automaker's "ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace. As we've said, affordability has always been a priority for these vehicles." Barring similar price cuts from other automakers for 2023, the Bolt EV could become the cheapest new EV on sale in the United States. That mark is presently held by the 2022 Nissan Leaf at $28,425.

Gallery: 2023 Chevrolet Bolt EV, Bolt EUV

The Bolt features a single electric motor generating 200 horsepower, and it has a GM-estimated range of 259 miles on a charge. That's the same range listed by the EPA for 2022 models, and hooked to a fast charger, it can gain 100 miles of range in 30 minutes. For 2023, the Chevrolet Bolt EV gains a new exterior color option of Radiant Red Tintcoat, though it adds to the base price. 

The 2023 Bolt EUV also gains the new shade of red, but Chevrolet adds a snazzy Redline Edition to the mix. The appearance package includes black wheels and a plethora of red trim to give the small crossover an exciting look. It uses the same 200-hp single electric motor and fast-charge capability, though the estimated range drops to 247 miles on a full battery charge.

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