IT PRE-DATES TESLA
I drove America's cheapest electric SUV, the $28,000 Chevy Bolt EUV. It's the affordable EV we've been waiting for.ELECTRIFICATION AND STATE CAPITALISM EQUALS SOCIALISM
V.I.LENIN
Tim Levin
Wed, December 14, 2022
The Chevrolet Bolt EUV isn't the quickest or the coolest EV around, but it is one of the cheapest.
The 2022 Chevrolet Bolt EUV.Tim Levin/Insider
It's not some theoretical affordable EV that might get made eventually. (Looking at you, Tesla.) It's available right now for $28,195, and I got to drive it. It's the cheap electric car that America has been missing.
An EPA-rated 247 miles of range gives the EUV — America's cheapest e-SUV after a recent $6,300 price cut — some of the best bang for your buck in the entire EV market. If you break down value into a range-per-dollar ratio, the EUV is beat out only by the Bolt EV hatchback, which costs slightly less and returns 259 miles of range.
Consider the other low-priced EVs out there. An electric Mini Cooper will run you around $34,000, but it only provides 114 miles of range in return. Likewise, the Nissan Leaf starts at $28,000, but it's rated for a paltry 150 miles. The latest generation of electric SUVs from Ford, Hyundai, and Kia all start at well over $40,000.
In a world where charging stations still aren't widespread, range and price are two of the top concerns for EV buyers. And the EUV gets high marks on both.
The 2022 Chevrolet Bolt EUV.
The 2022 Chevrolet Bolt EUV.
Tim Levin
Wed, December 14, 2022
The Chevrolet Bolt EUV isn't the quickest or the coolest EV around, but it is one of the cheapest.
Tim Levin/Insider
I drove the Chevrolet Bolt EUV, now the cheapest electric SUV in America after a price cut.
The Bolt EUV costs just over $28,000 and provides 247 miles of driving range, making it one of the best values on the market.
Chevy lent me a 2022 Bolt EUV Premier, which would cost around $37,000 after this year's price cut.
Electric cars have mostly shed their stigma as toys for rich people and quirky conveyances for tree-huggers. But there's still one significant barrier to entry keeping would-be converts from taking the plunge: They're just too darn expensive.
In a time when more people than ever are eager to kick fossil fuels to the curb, the average electric vehicle is still far out of reach for the average American. Last month, the price for a new battery-powered car was a whopping $65,000, roughly a year's income for the median US household.
But there's a bright spot among all the prohibitively pricey Teslas and Audis: The Chevrolet Bolt EUV.
I drove the Chevrolet Bolt EUV, now the cheapest electric SUV in America after a price cut.
The Bolt EUV costs just over $28,000 and provides 247 miles of driving range, making it one of the best values on the market.
Chevy lent me a 2022 Bolt EUV Premier, which would cost around $37,000 after this year's price cut.
Electric cars have mostly shed their stigma as toys for rich people and quirky conveyances for tree-huggers. But there's still one significant barrier to entry keeping would-be converts from taking the plunge: They're just too darn expensive.
In a time when more people than ever are eager to kick fossil fuels to the curb, the average electric vehicle is still far out of reach for the average American. Last month, the price for a new battery-powered car was a whopping $65,000, roughly a year's income for the median US household.
But there's a bright spot among all the prohibitively pricey Teslas and Audis: The Chevrolet Bolt EUV.
The 2022 Chevrolet Bolt EUV.Tim Levin/Insider
It's not some theoretical affordable EV that might get made eventually. (Looking at you, Tesla.) It's available right now for $28,195, and I got to drive it. It's the cheap electric car that America has been missing.
An EPA-rated 247 miles of range gives the EUV — America's cheapest e-SUV after a recent $6,300 price cut — some of the best bang for your buck in the entire EV market. If you break down value into a range-per-dollar ratio, the EUV is beat out only by the Bolt EV hatchback, which costs slightly less and returns 259 miles of range.
Consider the other low-priced EVs out there. An electric Mini Cooper will run you around $34,000, but it only provides 114 miles of range in return. Likewise, the Nissan Leaf starts at $28,000, but it's rated for a paltry 150 miles. The latest generation of electric SUVs from Ford, Hyundai, and Kia all start at well over $40,000.
In a world where charging stations still aren't widespread, range and price are two of the top concerns for EV buyers. And the EUV gets high marks on both.
The 2022 Chevrolet Bolt EUV.
Tim Levin/Insider
Crucially, all that range and value comes wrapped up in the SUV package that Americans love. Historically, the cheapest, mass-market EVs were always hatchbacks, which Americans have rejected in favor of SUVs of various sizes.
Driving the Bolt EUV isn't a revelation, but it's a totally pleasant experience. The EUV cruises comfortably and quietly. It doesn't provide the same jolt of acceleration as, say, a Ford Mustang Mach-E, but it darts away from a stoplight quick enough thanks to a 200-horsepower motor. Its back seat is roomy enough even for large adults. And you can pay extra for Super Cruise, an excellent driver-assist feature that pilots the car hands-free on highways.
Crucially, all that range and value comes wrapped up in the SUV package that Americans love. Historically, the cheapest, mass-market EVs were always hatchbacks, which Americans have rejected in favor of SUVs of various sizes.
Driving the Bolt EUV isn't a revelation, but it's a totally pleasant experience. The EUV cruises comfortably and quietly. It doesn't provide the same jolt of acceleration as, say, a Ford Mustang Mach-E, but it darts away from a stoplight quick enough thanks to a 200-horsepower motor. Its back seat is roomy enough even for large adults. And you can pay extra for Super Cruise, an excellent driver-assist feature that pilots the car hands-free on highways.
The 2022 Chevrolet Bolt EUV.
Tim Levin/Insider
The cheapest of anything is bound to have a few shortcomings. The EUV can't charge as quickly as pricier rivals (it can add 95 miles of range in 30 minutes, Chevy says), and all-wheel drive isn't an option. It's not particularly quick, and its styling looks pretty pedestrian alongside head-turning models from Hyundai and Kia.
There's clear appetite for cheaper EVs. Surveys consistently cite high prices among the top factors keeping buyers out of the EV market. And according to a new study from S&P Global Mobility, Tesla is losing market share to EVs on the more affordable (sub $50,000) end of the spectrum, where Musk's brand doesn't compete.
The Bolt EUV isn't trying to be a spaceship, speed demon, or smartphone on wheels. What it brings to the table is arguably more important amid a warming climate: Electrification for the masses.
The cheapest of anything is bound to have a few shortcomings. The EUV can't charge as quickly as pricier rivals (it can add 95 miles of range in 30 minutes, Chevy says), and all-wheel drive isn't an option. It's not particularly quick, and its styling looks pretty pedestrian alongside head-turning models from Hyundai and Kia.
There's clear appetite for cheaper EVs. Surveys consistently cite high prices among the top factors keeping buyers out of the EV market. And according to a new study from S&P Global Mobility, Tesla is losing market share to EVs on the more affordable (sub $50,000) end of the spectrum, where Musk's brand doesn't compete.
The Bolt EUV isn't trying to be a spaceship, speed demon, or smartphone on wheels. What it brings to the table is arguably more important amid a warming climate: Electrification for the masses.
Electric cars are shredding the brand loyalty automakers have spent decades building up — and it's great news for Kia and Hyundai
Nora Naughton
Wed, December 14, 2022 at 12:55 PM MST·2 min read
Automakers work like crazy to drive brand loyalty, while EVs "draw in new buyers naturally."Ford
A new study finds EVs are helping car brands attract new customers.
Ford, Hyundai, and Kia have EVs bringing in the most new customers.
GM CEO said 40% of customers purchasing GM EVs are new to the company.
Electric vehicles are poised to disrupt customer loyalty in the car business, long one of the mainstays of vehicle brand identities.
According to a new study from car-shopping site Edmunds, electric vehicles are convincing buyers to change brands at much higher rates than historically seen in automotive retail. This particular sales metric, known as customer conquests, has historically been a difficult thing to achieve.
Carmakers have spent decades using wave after wave of focus groups, spending billions in marketing dollars, and internalizing customer feedback to drive loyalty among their buyer bases.
Keeping customers within the brand has always been a top priority for car companies and dealers alike, and not just for the obvious reason that no brand wants to see a buyer go to a competitor. It's also that it's far cheaper to keep a customer than to find a new one, according to Edmunds Executive Director of Insights Jessica Caldwell.
Car companies looking to conquest buyers to a brand can end up spending billions of dollars on new ad campaigns and R&D efforts to revamp their image, only to see meager or temporary shifts in loyalty.
"This is no easy feat in the auto industry and a part of the reason why leasing was invented — to drum up repeat business," Caldwell wrote in the study. "These EVs are drawing in new buyers naturally, which is a benefit that can't be underestimated."
The vehicles attracting the most customers from other brands, according to Edmunds:
Ford's Mustang Mach-E, 69% conquest rate among trade-ins
Hyundai's Ioniq 5, with 81% conquest rate among trade-ins
Kia's EV6, with 79% conquest rate among trade-ins
Ford's early electric vehicle strategy hinged on leveraging the company's most valuable brands – with the most loyal customer bases – to strengthen its position in the EV market.
"I want us in segments and markets where we do really well without even trying that hard," Ford CEO Jim Farley told Insider earlier this year.
In remarks to journalists last week, GM CEO Mary Barra said 40% of GM's EV buyers are new to the company. GM is currently playing a long game with EV customers to drum up new loyalty with a call center for all electric vehicle drivers and shoppers.
Nora Naughton
Wed, December 14, 2022 at 12:55 PM MST·2 min read
Automakers work like crazy to drive brand loyalty, while EVs "draw in new buyers naturally."Ford
A new study finds EVs are helping car brands attract new customers.
Ford, Hyundai, and Kia have EVs bringing in the most new customers.
GM CEO said 40% of customers purchasing GM EVs are new to the company.
Electric vehicles are poised to disrupt customer loyalty in the car business, long one of the mainstays of vehicle brand identities.
According to a new study from car-shopping site Edmunds, electric vehicles are convincing buyers to change brands at much higher rates than historically seen in automotive retail. This particular sales metric, known as customer conquests, has historically been a difficult thing to achieve.
Carmakers have spent decades using wave after wave of focus groups, spending billions in marketing dollars, and internalizing customer feedback to drive loyalty among their buyer bases.
Keeping customers within the brand has always been a top priority for car companies and dealers alike, and not just for the obvious reason that no brand wants to see a buyer go to a competitor. It's also that it's far cheaper to keep a customer than to find a new one, according to Edmunds Executive Director of Insights Jessica Caldwell.
Car companies looking to conquest buyers to a brand can end up spending billions of dollars on new ad campaigns and R&D efforts to revamp their image, only to see meager or temporary shifts in loyalty.
"This is no easy feat in the auto industry and a part of the reason why leasing was invented — to drum up repeat business," Caldwell wrote in the study. "These EVs are drawing in new buyers naturally, which is a benefit that can't be underestimated."
The vehicles attracting the most customers from other brands, according to Edmunds:
Ford's Mustang Mach-E, 69% conquest rate among trade-ins
Hyundai's Ioniq 5, with 81% conquest rate among trade-ins
Kia's EV6, with 79% conquest rate among trade-ins
Ford's early electric vehicle strategy hinged on leveraging the company's most valuable brands – with the most loyal customer bases – to strengthen its position in the EV market.
"I want us in segments and markets where we do really well without even trying that hard," Ford CEO Jim Farley told Insider earlier this year.
In remarks to journalists last week, GM CEO Mary Barra said 40% of GM's EV buyers are new to the company. GM is currently playing a long game with EV customers to drum up new loyalty with a call center for all electric vehicle drivers and shoppers.
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