General Motors rolls back prices of Bolt EV and EUV by $5,900 and $6,300. Despite increasing materials costs and parts shortages, the decrease in EV prices comes as a surprise. The new Bolt EV is now priced at $26,595 and $ the Bolt EUV at $28,195. Thes prices include the destination charge of $995.
While automakers have been increasing vehicle costs, especially for electric vehicles, General Motors decreased EV prices. The change is possible because last year the automaker had reduced sales for many months. It was momentarily because the Chevy Bolt was recalled several times due to battery issues.
Various automakers, like Tesla, have increased EV prices by around $10,000. Such bulk increased costs didn’t necessarily result in to drop in sales numbers for automakers. While there have been production issues, General Motors seems to have picked up in every aspect this year.
GM spokesperson said, “This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace. As we’ve said, affordability has always been a priority for these vehicles.” Last year GM CEO Mary Barra talked about making affordable vehicles as GM’s strategy to push EV adoption in the US. The automaker also dealt with the battery issues, leading to a probe with LG Energy Solutions.
Earlier recalls
The various instances with GM vehicles are known today as well. The automaker issues a full recall of 69,000 vehicles globally, while there were 51,000 vehicles in the US. Owners were warned about a potential fire, so it was suggested that vehicle owners don’t park near other cars. There were also other rules like, not to charge the vehicle more than 90 percent. The models that were affected were the 2017- 2019 model years. It is said to be caused by “the simultaneous presence of two rare manufacturing defects in the same battery cell.”
Production resumed in April after aiming to start building the vehicles again in February when the NHTSA closed its investigation into the Bolt fires. The Bolt EV offers 259 miles of range, while the EUV, which is slightly larger, offers 247 miles. Production is expected to begin in the Summer. CNBC said in its report that the Bolt EV is expected to be the most affordable EV on sale in the United States, although other automakers have not yet released pricing for the 2023 model year.
“It’s unlikely that the Bolt will be generating a net profit for the automaker at this price point but it will make it the cheapest EV available today, therefore potentially bringing in a new cluster of customers who are just looking for the most economical vehicle to purchase and own,” Toprak told the Free Press.
