Update: We would like you all to know that this story was an April Fools joke. Chevrolet is not reducing the MSRP of the 2017 Bolt EV to $20. That would be absurd. Nothing in this story is meant to be taken seriously.
General Motors has made its move following the announcement and reveal of the Tesla Model 3. The Model 3, which will compete directly with the 2017 Chevrolet Bolt EV, was revealed to start at $35,000, undercutting the 2017 Bolt EV by $2,500.
To combat Tesla, GM announced it will not stand still on the matter, and has announced it will bring the 2017 Bolt EV to market with a new price point of just $20 after U.S. tax credits.
“We understand this is a competitive environment, and we not only want to arrive to market first, but we want to sell more than Mr. Musk could imagine,” a Chevrolet spokesperson said. “Everyone has a $20 bill. It’s the best marketing and pricing strategy to date.”
Accompanying the announcement was Chevrolet’s new strategy to equip certain Bolt EV models with the 2.0-liter LTG turbocharged four-cylinder.
“Gasoline is cheap, and we know the EV market isn’t the strongest. We feel the Bolt EV will reach a larger base of consumers if we use good, old-fashioned fossil fuels,” Fam Pletcher, chief engineer for electrified vehicles stated.
“We understand it’s not a true EV with the four-cylinder engine, but the kids love turbos,” she added.
The new powertrain and pricing will arrive next year, with a launch date of April 1, 2017.
Comments
April Fools!!!
I’m going to buy about 10 Bolts and when the price goes up tomorrow I’ll sell them for $20,000 each.
Not bad for only spending $20.
Ahhhh……….10 Bolts would be $200, if my grade school math is still correct.
??????
$20,000 is not too bad for a Bolt. But still a little on the high side if you ask me.
LOL…that almost got me..
Lame!
Too few good pranks this year.
Ok, joking aside for a moment. How WILL Chevy respond to Tesla’s aggressive price point for the Model 3? Look, I’m a GM fan through and through but for the average American deciding between a Tesla and Chevrolet, just based on brand perception, which do you think they’ll pick?
The wait list for Model 3 is now up to 200,000 so you won’t even get it till 2020 or later. How long are you willing to wait??
April fools aside, Tesla has serious financial issues to overcome. Sometime this year they will need to raise additional capital. It will hurt current investors.
Model 3 is aimed to compete with Mercedes C-class, BMW 3-series, A4 etc.. so for GM to compete, Barra needs to build a fully electric 4-door Avista or ATS with 215 mile range for $35k. Unfortunately this does make the Bolt, which I really liked, a joke
Despite it being more expensive, I’d still rather have a Bolt.
Will Tesla still be in business in 2019 when the Model 3 will be ready?
Will the price of a Volt come down when the Bolt is released?
A crisp Jackson for a 2017 Bolt , I’m going to my local Chevy dealership and order one in each color .
Seen on MSNBC this morning the line of people willing to plunk down a $1000.00 to get put on the list for the Model 3 . Most didn’t even know what it ;ooked like . Tesla worried that they won’t be able to fullfill all of the orders .
Tesla loses money on every car that they sell as their sales approach is something no car company can follow as it makes you wonder how much money will Tesla lose with the sales of each Model 3.
Tesla does not lose money on every car they make. The margin is around 25 percent currently. They are spending more money then they are taking in currently but there is a big difference. They are spending money on infrastructure such as super chargers and the gigafactory. Tesla isn’t going anywhere folks. They are a disruption company and know exactly what they are doing.