2022 Chevrolet Bolt EUV

GM launched its 2022 year-end gross sales replace and is touting the common-or-garden Chevy Bolt’s greatest gross sales 12 months ever, calling the Bolt and Bolt EUV the “#1 mainstream EV sequence” in Q3 and This autumn.

GM solely has one vital electrical mannequin line up to now, the Chevy Bolt. It additionally simply began promoting the Cadillac Lyriq and the GMC Hummer EV, however each of these are costlier and far more restricted manufacturing.

GM has a number of different electrical fashions coming throughout the subsequent 12 months or two as its Ultium battery platform will get prepared for prime time. These embrace the Equinox, Blazer, and Silverado EVs. However in the meanwhile, the Bolt makes up the overwhelming majority of GM’s present EV gross sales.

Bolt gross sales have been up sharply 12 months over 12 months, with extra gross sales development than all however one in every of Chevy’s fashions (the Malibu) and two different GM fashions (XT4, Terrain). Bolt bought 22,073 automobiles in 2021 and 38,120 in 2022, a 72% enhance for this mannequin line. Most of GMs different fashions confirmed both gross sales declines or extra modest development, with the corporate general including 2.5% to gross sales 12 months over 12 months.

So, Bolt gross sales are rising considerably, like many different electrical fashions are, whereas fuel automotive gross sales are displaying a lot smaller development.

However that’s not the entire story.

GM and the Bolt have had a tricky previous couple years, with a protracted recall that partially or completely impacted 4 quarters, and manufacturing solely resuming in April 2022. So gross sales for each final 12 months and this 12 months have been affected by that recall.

This resulted in a dismal 2021 and early 2022 for GM’s EV gross sales, which resulted in GM falling behind Ford and promoting comically low numbers of EVs in This autumn (26 complete) and Q1 (457 complete). Which additionally meant comically excessive proportion will increase from their meager 2021 numbers, with This autumn Bolt gross sales up 94,600% YoY and YTD Hummer EV gross sales up 85,300% YoY.

After lastly getting again to promoting the automotive, GM slashed the MSRP by ~$6,000 in June, making the Bolt the most affordable EV obtainable in America. Gross sales have been additionally boosted this 12 months, as in comparison with final 12 months, with the introduction of the bigger Bolt EUV mannequin with extra cupboard space for a not-much-higher worth.

That is why GM’s launch says the Bolt was the “#1 mainstream EV sequence in Q3 and This autumn,” which is after the recall completed and GM was lastly in a position to promote these vehicles in earnest once more. Whereas GM doesn’t outline “mainstream” of their launch, we suspect this implies “not counting Tesla.”

GM’s Bolt gross sales have been in all probability negatively affected close to the top of the 12 months, although, as we obtained nearer to the deadline within the Inflation Discount Act, which might re-qualify GM for the federal EV tax credit score – particularly after the US Treasury delayed its steerage on battery sourcing necessities, which implies the Bolt can have entry to the $7,500 tax credit score a minimum of till March, making it a screaming deal till then.

GM additionally mentioned that the Bolt EV had the very best mixture of patrons below 36 in comparison with its EV rivals, an necessary demographic for automakers looking for to construct model loyalty. It sees EVs as a development alternative and plans to extend Bolt manufacturing to greater than 70,000 items this 12 months to satisfy robust world demand along with spinning up its Ultium platform and releasing new EVs within the coming quarters.

Electrek’s Take

There are plenty of elements right here, however briefly, it seems to be just like the Bolt remains to be promoting impressively nicely for a mannequin that first shipped in 2017, relies on older know-how, and has a deliberate finish of life within the subsequent couple years as GM shifts to its new Ultium platform.

And, now that the Bolt is such a nice deal, it earned our award as Electrek’s Automobile of the Yr regardless of this age. It’s simply the most effective bang on your buck you may get, not simply out of any EV, however out of any automobile on the highway. Significantly given the EV tax credit score state of affairs.

So, we’re not shocked to see it doing nicely in gross sales, and we hope GM can construct sufficient of them to fulfill the excessive demand they should be seeing for this automotive. We’re listening to from plenty of readers who’re having hassle discovering a Bolt in any respect from their native sellers, a lot much less at MSRP, whilst auto business provide constraints begin to loosen up a bit of.

For those who’re on the lookout for a Bolt, you should utilize our hyperlinks to contact your native sellers concerning the 2023 Chevy Bolt EV or 2023 Chevy Bolt EUV. Ensure that to take supply earlier than “someday in March” if you wish to benefit from the present tax credit score state of affairs, however seek the advice of a tax skilled first to make sure you qualify.