Chevy discontinues cult-favorite car after just seven years on the market — but there may be hope for a comeback
Jeremiah Budin
Sat, July 15, 2023
After hitting the road in 2016, the Chevy Bolt quickly became known as the U.S. market’s most affordable electric vehicle (EV). Unfortunately, General Motors has announced that it plans to end production of the car at the end of 2023, although recent statements by CEO Mary Barra suggest that may not be the end of the story.
The Chevy Bolt had a starting price of around $27,000. With the $7,500 electric vehicle tax credit from the Inflation Reduction Act, the Bolt was a far more accessible EV than pricey Teslas.
Photo Credit: iStock
There are several other options for semi-affordable EVs, including the Nissan Leaf, which starts at $28,000 and takes up the mantle as the least expensive EV on the market. GM’s cheapest EV will now be the Chevy Equinox EV, which the company says will start at “around $30,000” when it is released later this year.
Still, it would be sad to see the Chevy Bolt go, and GM’s stated reason for doing away with it — Americans’ obsession with pickup trucks and SUVs means little interest in hatchbacks — is a bit of a letdown, too. GM has said that it will use the assembly plant space previously devoted to Chevy Bolts to make more electric trucks starting next year.
Another reason for the switch, as The Verge points out, has to do with the fact that GM is moving away from the Bolt battery technology to build its next generation of EVs using its newer Ultium battery architecture. Battery issues plagued the Bolt in its early days, causing several fires and leading to a recall, which may have permanently damaged the car’s reputation.
On the bright side, it’s also battery tech that may give the Bolt a new lease on life. In a recent podcast interview, CEO Barra called the Bolt an “important vehicle in our portfolio“ and said new technology could reduce battery costs up to 40 percent — which fueled speculation that the Bolt may yet see a revival with updated tech.
Barring that kind of comeback, though, Verge’s readers were largely not happy to see the Bolt go.
“The number of vehicles available in the U.S. that will fit in my slightly undersized garage is surprisingly small, and even fewer of them are utility-oriented hatchbacks instead of sedans. How frustrating,” wrote one commenter.
“What a disappointment; guess only rich people get to buy EVs, and only SUVs and trucks,” wrote another.
Tesla Luxury Rival Cadillac Unveils a Cheaper Electric Vehicle
General Motor's Cadillac division will roll out an SUV that's smaller and cheaper than the Lyriq.
KIRK O’NEIL
JUL 16, 2023 6:05 PM EDT
The luxury automobile market in the US is led by the electric vehicle industry's overall production and delivery leader Tesla (TSLA) - Get Free Report, after the Austin, Texas, automaker overtook the 2021 No. 1 luxury seller BMW to become as the top luxury car seller in 2022.
Tesla was the No. 1 luxury seller in 2022, followed by BMW and Mercedes-Benz, according to Statista. Tesla sold 484,351 luxury models, while BMW sold about 327,930 luxury units and Mercedes had about 269,510 units.
DON'T MISS: Tesla Rival Hyundai Unveils High Performance Electric Vehicle
Aside from Tesla, BMW and Mercedes, the luxury electric vehicle market is a bit crowded with several luxury makers rolling out models over the next few years.
Cadillac
Electric Vehicle Makers Rolling Out Luxury Models
Luxury sportscar manufacturer Alfa Romeo will rollout its first all-electric vehicle in 2024, a small compact SUV that's based on parent company Stellantis' (STLA) - Get Free Report Jeep Avenger. The company will introduce its first dedicated EV in 2025, which will likely be a Giulia sedan.
When Alfa Romeo converts to all-electric in 2027, it will also roll out all-electric SUV that will be comparable to the size of a BMW X5.
Honda (HMC) - Get Free Report is teaming with General Motors (GM) - Get Free Report to introduce the Acura ZDX, its first electric vehicle that's scheduled to be released in 2024, which will use GM's Ultium battery platform.
Los Angeles-based EV maker Fisker on Aug. 3 is planning to unveil its Ronin four-door convertible GT sports luxury EV sedan, which is expected to retail for $200,000 beginning in 2025.
Nissan's Infiniti luxury division on June 23 introduced a brand refresh at a Los Angeles dealer meeting, which included a new logo, modernized showrooms and a new concept electric vehicle that will be produced at its Canton, Miss., plant and expects to be ready to sell to the public in 2026.
Aston Martin has an ongoing partnership with Mercedes-Benz and a new one with Lucid with plans to deliver its first all-electric EV in 2025.
GM's Cadillac Has Big Plans for New EVs
GM in May said that later this year Cadillac will launch an electric version of the iconic full-size Cadillac Escalade SUV. The new model, the Cadillac Escalade IQ, "promises the same commitment to craftsmanship, technology and performance that has helped the Escalade nameplate dominate the large luxury SUV segment for the last 20 years," the company said in a statement on May 22.
GM's Cadillac division has launched a price reduction campaign to try to compete against Tesla, BYD (BYDDY) and NIO (NIO) - Get Free Report and other luxury electric vehicle makers in China, as it recently cut the Cadillac Lyriq EV prices by 14% from a starting price of about $60,730 to $52,443, Electrek reported. Cadillac in June 2022 began selling its first all-electric vehicle in China, the Lyriq sports utility vehicle for $67,200, but it was forced to lower prices after Tesla began decreasing prices.
GM is determined to attack Tesla head on as it has filed papers with China's Ministry of Industry and Information Technology to sell a new all-electric SUV in China that will be smaller than the Lyriq to be known as the Cadillac Optiq. The vehicle will also be less expensive than the Lyriq, but GM has not yet revealed the price.
The Optiq will offer a 150kW single motor version and a 180 kW single motor, and its electric packs will be a joint venture of GM and SAIC Motor Corp. and will be manufactured at the GM-SAIC plant in Wuhan, China. And there's no word yet if the new EV will be introduced in the US.
General Motor's Cadillac division will roll out an SUV that's smaller and cheaper than the Lyriq.
KIRK O’NEIL
JUL 16, 2023 6:05 PM EDT
The luxury automobile market in the US is led by the electric vehicle industry's overall production and delivery leader Tesla (TSLA) - Get Free Report, after the Austin, Texas, automaker overtook the 2021 No. 1 luxury seller BMW to become as the top luxury car seller in 2022.
Tesla was the No. 1 luxury seller in 2022, followed by BMW and Mercedes-Benz, according to Statista. Tesla sold 484,351 luxury models, while BMW sold about 327,930 luxury units and Mercedes had about 269,510 units.
DON'T MISS: Tesla Rival Hyundai Unveils High Performance Electric Vehicle
Aside from Tesla, BMW and Mercedes, the luxury electric vehicle market is a bit crowded with several luxury makers rolling out models over the next few years.
Cadillac
Electric Vehicle Makers Rolling Out Luxury Models
Luxury sportscar manufacturer Alfa Romeo will rollout its first all-electric vehicle in 2024, a small compact SUV that's based on parent company Stellantis' (STLA) - Get Free Report Jeep Avenger. The company will introduce its first dedicated EV in 2025, which will likely be a Giulia sedan.
When Alfa Romeo converts to all-electric in 2027, it will also roll out all-electric SUV that will be comparable to the size of a BMW X5.
Honda (HMC) - Get Free Report is teaming with General Motors (GM) - Get Free Report to introduce the Acura ZDX, its first electric vehicle that's scheduled to be released in 2024, which will use GM's Ultium battery platform.
Los Angeles-based EV maker Fisker on Aug. 3 is planning to unveil its Ronin four-door convertible GT sports luxury EV sedan, which is expected to retail for $200,000 beginning in 2025.
Nissan's Infiniti luxury division on June 23 introduced a brand refresh at a Los Angeles dealer meeting, which included a new logo, modernized showrooms and a new concept electric vehicle that will be produced at its Canton, Miss., plant and expects to be ready to sell to the public in 2026.
Aston Martin has an ongoing partnership with Mercedes-Benz and a new one with Lucid with plans to deliver its first all-electric EV in 2025.
GM's Cadillac Has Big Plans for New EVs
GM in May said that later this year Cadillac will launch an electric version of the iconic full-size Cadillac Escalade SUV. The new model, the Cadillac Escalade IQ, "promises the same commitment to craftsmanship, technology and performance that has helped the Escalade nameplate dominate the large luxury SUV segment for the last 20 years," the company said in a statement on May 22.
GM's Cadillac division has launched a price reduction campaign to try to compete against Tesla, BYD (BYDDY) and NIO (NIO) - Get Free Report and other luxury electric vehicle makers in China, as it recently cut the Cadillac Lyriq EV prices by 14% from a starting price of about $60,730 to $52,443, Electrek reported. Cadillac in June 2022 began selling its first all-electric vehicle in China, the Lyriq sports utility vehicle for $67,200, but it was forced to lower prices after Tesla began decreasing prices.
GM is determined to attack Tesla head on as it has filed papers with China's Ministry of Industry and Information Technology to sell a new all-electric SUV in China that will be smaller than the Lyriq to be known as the Cadillac Optiq. The vehicle will also be less expensive than the Lyriq, but GM has not yet revealed the price.
The Optiq will offer a 150kW single motor version and a 180 kW single motor, and its electric packs will be a joint venture of GM and SAIC Motor Corp. and will be manufactured at the GM-SAIC plant in Wuhan, China. And there's no word yet if the new EV will be introduced in the US.
GM can't build or deliver new vehicles fast enough, exec says
Mon, July 17, 2023
By Paul Lienert
LANSING, Michigan (Reuters) - General Motors is seeing strong demand for many of its U.S. vehicles, but can't deliver them to dealers fast enough, one of the company's top executives told Reuters on Monday.
"GM very strongly continues to have discipline in terms of incentives, which means that demand is still very high," said Rory Harvey, the company's North America president, at an event in Lansing, Michigan. "At this particular point in time, we could just about sell every product that we can build."
But the automaker faces outbound logistics challenges in the aftermath of COVID, he said, particularly in shipping vehicles to dealers, whether by truck or rail.
"We would still like to improve our availability on the ground at dealers," Harvey said. "We have good inventory (levels) overall, but we'd like to get some of those units to our dealers from some of the plants quicker than they are today."
Harvey declined to say if lower-than-expected sales of GM's newest electric vehicles, the GMC Hummer EV and Cadillac Lyriq, were related to issues with Ultium batteries.
"I'm not sure that I want to be quoted as saying that Ultium is the bottleneck," he said in response to a question about low sales and dealer inventories of Hummer and Lyriq.
Those models, Harvey said, "have been going down the line in very limited quantities (but) we are building momentum."
"In May and June, there was good momentum growth. We will see another step change in terms of their (sales) performance in the second half of the year."
GM reports U.S. vehicle sales only on a quarterly basis. It sold just 1,348 Lyriqs and 47 Hummers in the second quarter.
In late June, the company had an estimated 831 Lyriqs and 25 Hummers in advertised retail inventories, according to S&P Global Mobility.
(Reporting by Paul Lienert in Detroit; editing by David Evans)
Mon, July 17, 2023
By Paul Lienert
LANSING, Michigan (Reuters) - General Motors is seeing strong demand for many of its U.S. vehicles, but can't deliver them to dealers fast enough, one of the company's top executives told Reuters on Monday.
"GM very strongly continues to have discipline in terms of incentives, which means that demand is still very high," said Rory Harvey, the company's North America president, at an event in Lansing, Michigan. "At this particular point in time, we could just about sell every product that we can build."
But the automaker faces outbound logistics challenges in the aftermath of COVID, he said, particularly in shipping vehicles to dealers, whether by truck or rail.
"We would still like to improve our availability on the ground at dealers," Harvey said. "We have good inventory (levels) overall, but we'd like to get some of those units to our dealers from some of the plants quicker than they are today."
Harvey declined to say if lower-than-expected sales of GM's newest electric vehicles, the GMC Hummer EV and Cadillac Lyriq, were related to issues with Ultium batteries.
"I'm not sure that I want to be quoted as saying that Ultium is the bottleneck," he said in response to a question about low sales and dealer inventories of Hummer and Lyriq.
Those models, Harvey said, "have been going down the line in very limited quantities (but) we are building momentum."
"In May and June, there was good momentum growth. We will see another step change in terms of their (sales) performance in the second half of the year."
GM reports U.S. vehicle sales only on a quarterly basis. It sold just 1,348 Lyriqs and 47 Hummers in the second quarter.
In late June, the company had an estimated 831 Lyriqs and 25 Hummers in advertised retail inventories, according to S&P Global Mobility.
(Reporting by Paul Lienert in Detroit; editing by David Evans)
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