Consider the fact that the average price of a new EV in 2023 is just over $60,000. Ouch. The Chevy Bolt, one of the most successful and affordable EVs, costs a mere $26,500. Its crossover sibling, the Bolt EUV, is $28,975, still way less than the national average. The average American can't afford most EVs, so it makes almost zero sense for Chevy to end production of both the Bolt and the Bolt EUV (which was introduced just two years ago in May of 2021).
So, what gives? The Bolt, after all, was one of the first truly affordable and highly rated EVs. The Bolt gets a healthy 259 miles of range, and its EUV sibling gets only a tad less at 247. Both vehicles receive excellent ratings, and sales volumes are still strong. They're also very practical with features like a 10.2" infotainment display, an 8.0-inch fully digital gauge cluster, wireless Android Auto/Apple CarPlay, built-in apps compatible with Amazon Alexa and Spotify music, enhanced voice recognition, heated mirrors, tire pressure monitoring, and DC fast charging capability, just to name a handful.
GM CEO Mary Barra stated, "When the Chevrolet Bolt EV launched, it was a huge technical achievement and the first affordable EV, which set in motion GM’s all-electric future. As the company continues to grow its EV portfolio with the Ultium platform, and as construction continues at the Orion Township, MI, assembly plant in preparation for battery electric truck production beginning in 2024, Chevrolet confirmed Bolt EV and EUV production will end late this year. Chevrolet will launch several new EVs later this year based on the Ultium platform in key segments, including the Silverado EV, Blazer EV and Equinox EV."
So, what's the replacement for the Bolt and Bolt EUV? Well, for now, there isn't one. We find that odd because they still sell in very good numbers. Better than good, actually. The Bolt and Bolt EUV just made its quarterly sales record of 19,700 vehicles in Q1 of 2023. It's the third successive quarter with increased sales, and that's a big deal in light of the fact that there are more EVs on the market than every before. It also proves that affordable EVs are important, and the lack of them is one major reason why conversion rates from gas to electric aren't nearly as good as they could be.
The Blazer EV (above) will cost quite a bit more, to the tune of $44,975 base MSRP. That's a big jump. The Equinox EV should cost less but will still break the $30,000 mark. Mary Barra did say that GM is developing something cheaper for the EV market, but there are zero details. We find the move to stop producing the Bolt and Bolt EUV models puzzling because sales are stronger than ever.
