U.S. sales of the all-electric Chevy Bolt EV and Chevy Bolt EUV rose 100 percent and dipped 21 percent, respectively, to 7,042 and 8,793 units during Q3 2023, while the average transaction price (ATP) of the two electric vehicles fell during the same timeframe.
According to a report from Cox Automotive, the ATPs of the Bolt EV during Q3 2023 in the U.S. market decreased 17 percent to $33,364, while that of the Bolt EUV fell 10 percent to $31,365. The impending discontinuation of the two electric vehicles at the end of the 2023 calendar year might be contributing to the decreases in transaction prices.
Sales Numbers - Chevy Bolt Family - Q3 2023 - USA
MODEL | Q3 23 / Q3 22 | Q3 23 | Q3 22 | Q3 23 SHARE | Q3 22 SHARE | YTD 23 / YTD 22 | YTD 23 | YTD 22 |
---|---|---|---|---|---|---|---|---|
CHEVROLET BOLT EV | +99.49% | 7,042 | 3,530 | 44% | 24% | +214.38% | 19,375 | 6,163 |
CHEVROLET BOLT EUV | -21.34% | 8,793 | 11,179 | 56% | 76% | +90.04% | 30,119 | 15,849 |
TOTAL | +7.66% | 15,835 | 14,709 | +124.85% | 49,494 | 22,012 |
In regard to ATPs for the Chevy brand overall, the Bow Tie brand saw a drop of one percent to $48,074 during Q3 2023, while U.S. sales increased 21 percent to 446,815 units. Meanwhile, U.S. sales at parent company General Motors increased 21 percent increase to 669,199 vehicles during Q3 2023, while ATPs rose one percent to $52,117.
Under the skin, both the Chevy Bolt EV and Chevy Bolt EUV ride on the GM BEV2 platform, which serves as the precursor to the GM BEV3 platform currently found underneath the newest generations of GM battery electric vehicles. A 65 kWh battery pack supplies the front-mounted electric motor, while total output is rated at 200 horsepower and 266 pound-feet of torque.
Notably, The General has announced that a second-generation Bolt EV is part of its future vehicle plans. This next-gen model, however, won’t be an entirely clean-sheet design underneath the skin, likely carrying over the overall design, body, and interior, while adopting The General’s latest electric propulsion, namely GM Ultium battery and Ultium Drive motor technologies.
Production of the current 2023 model year kicked off in July 2022 at the GM Lake Orion plant in Michigan, and will come to an end this December.
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Comments
Thanks to Trey and the rest of the GM Authority staff for keeping the news coming! I would think that the average transaction price for a discontinued model would go down. I suspect the Camaro has the same issue (I have read here that the sales volume is down), but would be interested to know.
Used Bolts could be the perfect first EVs for many homes. The investment is low, and if they don’t like it, it can be resold, since tbe only parts worn down are tires and maybe the driver’s seat, which happens in any vehicle.
Throw in LFP batteries, up fast charging to 100kw or better, adaptive cruise on all models and I believe it’ll take off then the Equinox EV can slot in above it to help justify its price increase. It seems GM was way ahead of the curve with the Volt, especially the 2nd gen Volt, and believe it or not the Spark EV does/did a pretty good job so a updated Bolt could satisfy a lot of wanna be EV owners as well as being the next logical step for those of us that like quick and efficient small cars.
I think a new Volt in a Equinox EV sized package would sell very well.
I drive a Bolt EUV and it’s by far the best vehicle I’ve ever owned. It is so inexpensive to operate and maintain. And you actually save money with it for real, because the purchase price is on par with gasoline powered vehicles after the tax credit. Literally the only downside of the vehicle is that it’s more time-consuming to take a road trip over 500 miles due to the 55 kW DC fast charging max rate, but that is being taken care of with the second generation Bolt. Inside EVs is saying the new Bolt will be built in Kansas, so it’ll still be a truly American vehicle.
The success of the Bolts is the reason Musk is talking up the anticipated Tesla Model 2. All the manufacturers would love to just sell lots of top dollar high margin EVs. But that’s not what most buyers can afford or want, especially with higher interest rates.