The Price Of The Base Chevy Silverado Is Going Up: Report

The price hike comes 18 months after the truck's debut, when GM said originally it would start at $39,900.

GM made waves in early 2022 when it dropped the Chevrolet Silverado EV. Aside from impressive specs like the return of the Midgate system, 400 miles of range, and 510 horsepower on the base version, another impressive number stood out: $39,900. That was what GM said buyers would pay to get into a base Silverado EV. Just over 18 months later and you can pretty much throw that price out the window. Automotive News Now reports that the Silverado EV 4WT will start at $79,800, with a higher new price on the base Silverado EV to follow.

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Speaking to Automotive News at a first drive event, Chevy trucks director of marketing Amy Masica blamed market forces for the price increase. “A lot has changed in the last year and a half with the economic pressures, with the industry pressures, with all the supply chain,” Masica said before adding that “Affordability is still really important to Chevy.”

Affordability, indeed, is what drew people in initially. GM CEO Mary Barra previously said the brand had over 150,000 reservations for the Silverado EV, 65 percent of which were from customers that were new to the brand.

There is a cheaper trim that GM is offering fleet buyers. But at these prices cheaper is a relative term. For $74,800 fleet buyers can get into the Silverado EV 3WT, which is supposed to arrive later this year. That price gets buyers 350 miles of range. GM said that the cheapest trims, including the base Silverado EV, will follow beginning in 2024.

Limited production has started on the Silverado EV 4WT at GM’s Factory Zero facility in Detroit as the company gears up for customer deliveries. Some of those customers might be surprised when they get the full bill.