Summer 2021: Tesla Model 3 Or Chevy Bolt? Price Creep Vs Price Crash

Tesla Model 3 and Chevy Bolt

Chevy is offering deals on 2021 Bolts that bring the price of the 259-mile-range EV to some of the lowest levels yet — while Tesla slowly raises the price on its best-selling Model 3.

In greater Los Angeles, 2021 Chevy Bolts are being priced close to $26,000, according to listings on TrueCar. The MSRP for the Bolt LT is typically about $37,000.

Meanwhile Tesla has upped the price of its least-expensive 2021 Model 3 Standard Range Plus to $39,990, a $3,000 price hike from $36,990 earlier this year.

Bolt vs Model 3:

  • Price: The Tesla Model 3 Standard Range Plus now lists for $39,990 while the Bolt LT has dropped to as low as $26,000
  • Range: The Model 3 Standard Range Plus has an estimated range of 263 miles. The Chevy Bolt is rated at 259 miles.
  • MPGe: The Model 3 has a combined EPA-rated 134 MPGe*, the Bolt 118
  • U.S. sales: The Model 3 was No.1 in EV sales in the U.S. 2020, the Bolt was No. 3 (the Model Y was No.2)

Rydell Chevrolet, one of the largest Bolt dealers in the Los Angeles area, is showing a new 2021 Bolt Premier — the priciest trim — on their website (as of May 29, 2021) priced under $30,000, a discount of more than $14,000 off the MSRP of $44,575.

TrueCar shows prices close to $26,000 for a new 2021 Bolt LT — the cheaper trim — roughly $11,000 off the MSRP.

That’s unusual for a new model year Bolt, which typically doesn’t see heavy discounting until late in the model year.

Why is this happening?

Chevy Bolt:

There is a major model year update coming for 2022: the existing Bolt is getting a makeover and Chevy is introducing the all-new Bolt EUV.

What’s different this time is, pricing on the upcoming Bolt is a lot lower, with the 2022 Bolt EV starting at $31,995. That’s roughly $5,500 off the MSRP for the current base model. And the slightly larger 2022 Chevrolet Bolt EUV, starts at $33,995.

The 2022 Bolts will include features such as adaptive cruise control and GM’s Super Cruise (hands-free-driving) tech — both firsts for the Bolt.

Model 3:

The Model 3 price hikes, on the other hand, are a mystery since Tesla doesn’t respond to media queries these days. And it should be noted that Tesla has also dropped the price of the Model 3 and Model Y. That happened earlier this year. That said, year to date, there has been a net increase.

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