Chevy Bolt EV Supply Very Low In April 2023
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Dealer inventory of the Chevy Bolt EV was very low nationwide going into April of the 2023 calendar year, GM Authority has learned from sources familiar with the matter.
According to the latest information from GM’s go-to-market operations, Chevy Bolt EV inventory was running at 6 days supply at the beginning of April. A total of only 174 units of the vehicle were on the ground at dealerships at that time.
A six days supply means that dealers have enough vehicles on hand to meet current demand for six days if no further units reached dealer lots. Before the COVID-19 pandemic, the semiconductor chip shortage, and the resulting supply chain disruptions, many automotive sales organizations considered 60 days supply as an optimum inventory level. The National Automotive Dealers Association (NADA) is one of these.
Meanwhile, the Chevy brand overall ran at under 60 days supply in March 2023.
The Chevy Bolt EV sold well in January 2023, achieving eighth place in the top 10 EV registrations for the month. The Chevy Bolt EUV sold even better, reaching third place among electric vehicle registrations for the same month. With its $27,495 starting price, the Bolt ranks as the currently most affordable all-electric vehicle in the U.S.
GM has responded to the popularity of the Chevy Bolt EV and EUV by announcing it will produce approximately 70,000 units of the two models during calendar year 2023. This figure represents a 59 percent increase from the 44,000 Chevy Bolt EVs and EUVs The General produced during 2022. Deliveries in 2022 were also up sharply year-over-year following the repercussions of a major safety recall on production in 2021.
The tight supply of the Chevy Bolt EV going into April and the nameplate’s popularity are part of a strong overall rise in GM’s EV sales. The General sold twice as many EVs in Q1 2023 as its competitor Ford, putting it in second place for U.S. electric vehicle sales behind current market leader Tesla.
The vast majority of GM’s 20,670 Q1 electric vehicle sales were of the Chevy Bolt EV and EUV, with the Cadillac Lyriq at a distant second at under a thousand units sold and just two units of the GMC Hummer EV delivered. Ford sold 10,866 EVs during the same period.
As a reminder, the Chevy Bolt EV is powered by a 65 kWh battery pack and single front-mounted Voltec drive motor, which develops 200 horsepower. Production takes place at the GM Lake Orion plant in Michigan, while the GM BEV2 platform provides the underpinnings.
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It’s not surprising that the Bolt supply is so low, it’s an incredible car. Chevy needs to step up production of the Bolt and EUv. The predicted 70,000 units this year is woefully inadequate. With the tax incentives, both state and federal, this car could end up costing you in the low 20s after they are applied. If you add in the fact that Chevy will install a level 2 charger in your home choosing this car for your next purchase becomes a no-brainer.
It doesn’t matter what tax credits or incentives you get, the average American doesn’t want to buy a car that comes with a predetermined expiration date. It’s calculated from the day the battery was put into service, whereas ice vehicles from 100 years ago or more can be seen at car shows still running without ever being rebuilt, cars from the 60s, 70s, 80, 90s, and early 2000s being used for everyday transportation, the EV will need a new battery at approximately 7 to 10 years, a new drive motor about the same time, an ice engine will run 3-400,000 miles without a rebuild, you’ll be on your third or fourth battery, at what cost? How many drive motors? At what cost? Plus every other repair any other car would have. So keep your tax payer funded credits, it’s not worth it.
You have the luxury of 100 years of history for ice vehicles to make that comment. You actually don’t know how long batteries will last if taken care of. I think BEV’s deserve the same opportunity to prove them selves.
How do you take care of a battery? Does it need oil changes?
I’ll agree that there are ice vehicles that are still original from 60 or 70 years ago. They are however very rare, most have been put through the crusher long ago. I personally know of someone who owned a 1973 Ford Pinto purchased new that he put 300,000 miles on it. He did however put 3 engines and 4 transmissions in it. Your claim seems to state that there are many ICE cars that are old and still running and it’s simply not true.
There are numerous examples of Bolt EV that reached 400 000km and going strong, like new, with no sign of troubles coming and very minimal loss of range.
Please post evidences of studies that “proves” that an EV must have its battery replaced at 7 to 10 years. Or refrain from propagating oil lobby FUD.
I’m amazed at the disinformation being put out about EVs and even more amazed by people that never owned one that think they are experts.
People don’t let facts get in the way of their narrative. BEVs have way fewer moving parts and brushless motors will outlast engines and transmissions – period. As far as batteries, replacing a battery in 10 years will be cheaper than it is today and would still be cheaper than accumulated ICE maintenance / repairs over the course of 10 years. The scheduled maintenance on my Duramax with over 60k has already been thousands for a 2020. My Tesla maintenance has been $0.
Reporting 174 units as a six days supply is in conflict with Chevys reported 300 to 320 dailyproduction rate (70,000 this year) , With dealers having waiting lists for bolts of 3 to 4 months , they must be delivering 300 or more per day, which is lot more than the 28 per day implied by this article (174divided by 6 = 29). i had to wait nearly four months for my order t0 be filled for my bolt EUV – it is a magnificent car with super cruise
I think demand will drop once the incentives are over, presumably this week. With Tesla dropping prices, combined with dealer mark up, I think the gold rush may be over. From all accounts it’s a good car and its owners seem to really love the car.
Local dealer in Can. told me up to a year to get one. Will probably only get worse with the Inflation Reduction Act cutting off subsidies to non-US mfgd. EV’s. Was thinking replacing my Spark with EUV. Will be looking elsewhere.
I work at a dealership. We have 15 Bolt orders placed. I’m telling folks who want to get on our list it will be over a year now also. If we have one in transit we get probably get 20 calls on it from folks 500 miles away. Wish we could get more allocations. We’re selling a Bolt probably 1 every month at msrp. If I had a shipment of 40 I feel very confident all of them could sell in two weeks regardless of tax incentives currently. I want one myself for my 62 mile commute for work. I had a first and second gen Volt, loved those cars also.
This guy that talks about gas cars lasting 100 years must work for the oil companies or in disneyland. Every time I’ve owned a gas car I had to put a new engine or transmission into it at least after 5 years it was one or the other. I love my EV I. love my Chevy Bolt. After only over or more gas cars in my lifetime I can definitely tell you I would never buy one again. On average my Chevy bolt saves me over $4,000 a year from paying gas that’s one of them I have two of them. And my battery is strong as ever. It’s sad when people comment and they have no idea what they’re talking about when they’re speaking about electric cars. Own one first and then comment.
Amen Philip, I’ve only had my Bolt 3 months and already know I will never own another gas powered car. I also have a Honda HRV and as soon as more EVs are available, I’ll trade it. Looking forward to seeing the new Blazer EV and Equinox EV.
Low supply because nobody wants mandated toys that are ,lets hear folks