2023 Chevy Bolt EV Earns J.D. Power ALG Residual Value Award

The 2023 Chevrolet Bolt EV was recently awarded J.D. Power’s 2023 ALG Residual Value Award. Operating as a data analytics and consumer intelligence company, J.D. Power conducts studies to determine the best vehicles in various segments. For its 2023 ALG Residual Value Award, the 2023 Bolt EV was among several recipients chosen for its high resale value. As an EV, the Chevy Bolt proves to be highly efficient and versatile. Its affordability also makes the all-electric hatchback a favorable choice for those just getting into the EV segment. While Chevrolet has been busy working on new EVs like the 2024 Silverado EV and the 2026 Colorado EV, its current EV lineup continues to be competitive. We’ll take a look at the 2023 Chevy Bolt EV and see why it retained its great resale value.

2023 Chevy Bolt EV Offers Great Resale Value

The 2023 Chevy Bolt EV was recently awarded the 2023 ALG Residual Value Award by J.D. Power. As a data analytics company, J.D. Power has served as a key figure in the automotive industry for its reliable consumer research. The consumer intelligence company releases annual surveys and reports that help consumers determine the best-valued vehicles. One of its recent reports was the 2023 ALG Residual Value Award. This award is determined by using an extensive process that utilizes used-vehicle performance data, brand outlook, and product competitiveness. Chevrolet was 1 of 13 brands that were considered for the award. Altogether 291 vehicles were analyzed. Of them, the Chevy Bolt EV and Chevy Silverado were selected.

The 2023 Chevy Bolt EV arrives with similar performance standards as the previous year, but Chevrolet has significantly reduced the price of the electric hatchback. Starting at an MSRP of $25,600 (plus destination fee), the 2023 Bolt EV offers impressive capability and efficiency all at an affordable cost. The hatchback features an electric motor that’s capable of 200 horsepower and 266 lb-ft of torque. This motor sends power to the front wheels and provides the hatchback with quick acceleration. The Bolt EV is able to go from 0-60 mph in just 6.5 seconds. This, combined with an engaging sport mode, provides drivers with a dynamic driving experience.

In its analysis, J.D. Power included various trims across the different brands it considered. The analytics company used averages in its study that were based on percentage share compared to the entire brand lineup. This helped differentiate the differences between trims. The 2023 Chevy Bolt EV offers two different trims, the 1LT and 2LT. The 2LT offers owners a higher level of quality with more luxury features, but it does not improve overall performance or efficiency. Still, given its affordability and efficiency, the electric hatchback proves to be a reliable EV with strong resale value. 

Come Test Drive a Brand-New Chevy at Miami Lakes Automall!

Are you excited about getting a new Chevy Bolt EV? So are we! At Miami Lakes Automall, we’re more than excited to help our customers find what they’re looking for. Check out our new vehicle inventory or browse our quality pre-owned vehicles. We offer suggestions like auto financing to help make paying for a vehicle easier. 


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Photo Credit: Chevrolet