Best Electric SUV for the Money in 2023 Will Be Dead Soon
SUVs are the most popular type of vehicle in the United States, and Americans are increasingly buying EVs. Given these factors, electric SUVs are a fast-growing segment. While many models in the segment are expensive, there’s one that’s a big bargain: the 2023 Chevy Bolt EUV. According to U.S. News & World Report, the Bolt EUV is the best electric SUV for the money in 2023. However, the affordable vehicle’s days are numbered, for it will soon be dead — with it discontinued later this year.
2023 Chevy Bolt EUV is the best electric SUV for the money in 2023, says US News
Every year, U.S. News releases its best car for the money awards, recognizing the most significant bargains for each vehicle segment. Last year, the media site grouped hybrid and electric SUVs into one category. However, for 2023, they are separate. And for EV SUVs, the 2023 Chevrolet Bolt EUV subcompact earned the top spot. U.S. News named it the best electric SUV for the money in 2023.
For the awards, the media site considers two factors: value and quality. The value element includes the purchase price and the five-year cost of ownership. And for the quality factor, U.S. News utilizes the overall scores from its best vehicle rankings.
Bolt EUV: Affordable to buy, cheap to own, and provides great value
Some models in the electric SUV segment are quite expensive, such as the 2023 Rivian R1S ($78,000 MSRP), 2023 BMW iX ($84,100 MSRP), and 2023 Tesla Model X ($97,490 MSRP). However, the 2023 Bolt EUV is at the opposite end of the price spectrum. It starts at only $27,800 MSRP, which makes it the most affordable new electric SUV in the U.S. This is a significant factor in it getting the best electric SUV for the money award.
Additionally, the Bolt EUV is cheap to own. It has one of the lowest five-year costs of ownership in the segment. Also, given the low price, its estimated 247 miles of driving range is respectable.
Plus, despite being a subcompact SUV, the Bolt EUV has a roomy interior. It provides a total passenger volume of 96.5 cu-ft, which is more than some larger SUVs. Additionally, with the ability to fold down the rear seats, there’s a maximum cargo capacity of 56.9 cu-ft.
Furthermore, the Bolt EUV comes standard with many features. This further adds to the value element of the electric SUV.
Chevrolet will discontinue the Bolt EUV
The 2023 Chevy Bolt EUV winning the best electric SUV for the money award from U.S. News is a great achievement. However, the celebration is short-lived, for Chevrolet will kill the subcompact SUV at the end of 2023, per InsideEVs.
While the sales of the Bolt EUV are decent, Chevrolet is discontinuing it to make way for other electric cars, including the Blazer EV and Equinox EV SUVs. The foundation of the next generation of Chevy electric cars is the Ultium platform. However, the Bolt EUV uses older EV technology — and doesn’t feature the Ultium platform.
Plus, last year, the Bolt EUV had some issues with the battery catching fire, resulting in recalls and a production pause. The fires only affected a small percentage of models. Also, Chevrolet seems to have fixed the issue. However, with the PR nightmare, the automaker likely wants to move on from the subcompact SUV.
Until it’s dead at the end of 2023, though, EV shoppers can still get the 2023 Chevy Bolt EUV, the U.S. News best electric car for the money in 2023. With its low purchase price, low cost of ownership, and many standard features, the subcompact SUV is a major bargain.