The Chevrolet Bolt EV is now available with price reductions and discounts worth up to $6,997 on the battery-powered subcompact SUV.
The available federal tax credit on the Bolt and all of General Motors’ plug-in cars was cut in half from $7,500 to $3,750 on April 1, after the automaker crossed the program’s threshold of 200,000 plug-in cars sold.
At the time, the automaker said it wouldn't be adjusting the sticker price of the vehicles to offset the change, but would be using incentives to "remain competitive."
The $6,997 deal is on a top of the line loaded Bolt EV Premier with a sticker price of $43,735 and is advertised as a combination of $5,573 cash back and a $1,424 price reduction below MSRP.
Chevrolet sold just 4,316 Bolts in the first quarter of 2019 in the U.S., while Tesla delivered 22,425 Model 3s, according to Inside EVs.
Additional incentives including up to a $4,000 cash allowance and 0 percent financing are being offered on other trim levels and all of the advertised deals currently run through July 1 and the tax credit is scheduled to be halved again to $1,875 on October 1.
General Motors plans to add 20 electric models to its lineup by 2023.