The Chevy Bolt EV and Chevy Bolt EUV sold about a week faster than the average for EVs in October 2023, the latest pre-owned vehicle market data analysis shows, and also spent less time on the market than the overall average used car.
Used Chevy Bolt EV units stayed on the market for an average of 43.5 days before selling, while Bolt EUVs spent an average of 42.1 days up for sale prior to purchase, selling slightly faster than the other model. Both found a buyer more swiftly than the typical used electric vehicle, which remained unsold for 52.4 days.
The Bolt EV and EUV slightly outperformed the overall average for all used cars, including ICE vehicles, hybrids, and EVs, which sold in 49.2 days. The Bolts did not sell fast enough to make the top 10 list, which contained only a single all-electric model, the Rivian R1T electric pickup truck.
iSeeCars noted that the Chevy Bolt EV and EUV, along with three Tesla models, are the EVs that buck the trend of slow-selling electric cars. Analyst Karl Brauer said that the situation is “ironic,” with “the Chevrolet Bolt among the fastest-selling electric vehicles just as GM is killing it.” However, The General has said it will soon launch a new generation of the Bolt, likely to be produced at the GM Fairfax plant in Kansas.
Brauer also noted that “the Bolt has set a high bar for demand and value that the automaker’s next-generation of EVs must match as they come to market.” Some of the speed with which used Bolts sell may be accounted for by its rapidly falling prices, which plunged 28.7 year-over-year to $20,398.
While used car prices overall on a steady downtrend, the Bolt is outpacing the general market. The study indicates prices are down 5.1 percent year-over-year to $30,972 compared to the average used car price of $32,627 in October 2022.