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I live in an EV bubble. I've driven EV's exclusively for four years and I don't have any interest in any ICE vehicles. I don't pay attention to them, to gas prices, etc. So when I heard GM was dropping the price of the Bolt by $6000+ I was floored. The car was competitive, perhaps even a bargain, at it's original price. Plus it's obvious competition, something like the Hyundai Kona has very tiny distribution and is virtually unobtainable new, same for the pricier Ioniq 5. Model 3 and Mach-e have risen in price so much they're not in the same bracket any more, and right now you can't buy them either.

But when I step outside the EV bubble, perhaps I understand the price cut. The Bolt is quite a bit more expensive than comparable ICE models, like $10K more. If you don't follow the EV world you might think you need to lower the price of the Bolt to compete. GM definitely wants to move some EV's after an embarrassing year of shipping almost none. So some knucklehead GM exec who knows nothing of EV's dropped the price. That's my Theory #1.

Theory #2 is that GM has Bolt parts stockpiled to the roof in their warehouses, and a hard deadline to shut down the production line early next year. Maybe they're now desperate to build and ship all the Bolts they have parts for before they wind up with a warehouse of spare Bolt pieces.

Or theory #3, they want to put the Bolt completely behind them before they start hyping the Equinox EV or something. So make all you've got parts for, sell'em quick, and shut the line down.

Anyone have any other theories? What am I missing?
 

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ALL non-GM and non-Tesla BEVs are still eligible for $7500 Federal Tax Credits for Electric and Plug-in Hybrid Cars.

Prior to EV6 and Ioniq 5, it seemed like HyunKia was not serious about selling BEVs in the US (e.g. mostly CA and CARB state only BEVs). As for Model 3, can't buy them, sure the ETA is way out there if you don't load it up with pricey options/more expensive versions, but they sure seem to be shipping a lot of them in the US, albeit with a long wait:
Here are some Bolt sales, in comparison: https://gmauthority.com/blog/gm/chevrolet/bolt-ev/chevrolet-bolt-ev-sales-numbers/.
 
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I live in an EV bubble. I've driven EV's exclusively for four years and I don't have any interest in any ICE vehicles. I don't pay attention to them, to gas prices, etc. So when I heard GM was dropping the price of the Bolt by $6000+ I was floored. The car was competitive, perhaps even a bargain, at it's original price. Plus it's obvious competition, something like the Hyundai Kona has very tiny distribution and is virtually unobtainable new, same for the pricier Ioniq 5. Model 3 and Mach-e have risen in price so much they're not in the same bracket any more, and right now you can't buy them either.

But when I step outside the EV bubble, perhaps I understand the price cut. The Bolt is quite a bit more expensive than comparable ICE models, like $10K more. If you don't follow the EV world you might think you need to lower the price of the Bolt to compete. GM definitely wants to move some EV's after an embarrassing year of shipping almost none. So some knucklehead GM exec who knows nothing of EV's dropped the price. That's my Theory #1.

Theory #2 is that GM has Bolt parts stockpiled to the roof in their warehouses, and a hard deadline to shut down the production line early next year. Maybe they're now desperate to build and ship all the Bolts they have parts for before they wind up with a warehouse of spare Bolt pieces.

Or theory #3, they want to put the Bolt completely behind them before they start hyping the Equinox EV or something. So make all you've got parts for, sell'em quick, and shut the line down.

Anyone have any other theories? What am I missing?
I think there is at least a grain of truth in each of your three theories.

It may seem at the moment that Bolt demand is so strong as to not warrant a price cut. However I think GM has determined that without the cut, demand would not remain strong enough to quickly sell all the Bolts they plan on making.

Having new Bolts fester on dealer lots while virtually every other EV is sold out and has waiting lists, would be a very bad look. The Bolt is old tech now, what with the slow DCFC etc. The fire recall has to have had some effect on demand too.

There are also perhaps thousands of buyback/swap Bolts that will eventually get new packs. I keep seeing pictures of huge lots full. I think three now. When they start hitting the market in large numbers, they will compete with new Bolts.

The price cut was a good move, IMHO, so I don't agree with the knucklehead part of theory #1.
 

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Re: Bolts on the lot, I posted about the '23 Bolt MSRP drops in an EV Slack channel at work. One guy replied that he's seen Bolts and Mirais parked at dealer lots vs. the shortage of other cars. I replied that likely many/most were on stop sale due to waiting for replacement packs.

I pointed him to https://static.nhtsa.gov/odi/rcl/2021/RCSB-21V650-4816.pdf N212345943 and https://static.nhtsa.gov/odi/rcl/2021/RCMN-21V650-8671.pdf + other stuff about the recall, including the quarterly reports about completion.. He had no idea. He thought it was due to folks not wanting the cars.
 
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I live in an EV bubble. I've driven EV's exclusively for four years and I don't have any interest in any ICE vehicles. I don't pay attention to them, to gas prices, etc. So when I heard GM was dropping the price of the Bolt by $6000+ I was floored. The car was competitive, perhaps even a bargain, at it's original price. Plus it's obvious competition, something like the Hyundai Kona has very tiny distribution and is virtually unobtainable new, same for the pricier Ioniq 5. Model 3 and Mach-e have risen in price so much they're not in the same bracket any more, and right now you can't buy them either.

But when I step outside the EV bubble, perhaps I understand the price cut. The Bolt is quite a bit more expensive than comparable ICE models, like $10K more. If you don't follow the EV world you might think you need to lower the price of the Bolt to compete. GM definitely wants to move some EV's after an embarrassing year of shipping almost none. So some knucklehead GM exec who knows nothing of EV's dropped the price. That's my Theory #1.

Theory #2 is that GM has Bolt parts stockpiled to the roof in their warehouses, and a hard deadline to shut down the production line early next year. Maybe they're now desperate to build and ship all the Bolts they have parts for before they wind up with a warehouse of spare Bolt pieces.

Or theory #3, they want to put the Bolt completely behind them before they start hyping the Equinox EV or something. So make all you've got parts for, sell'em quick, and shut the line down.

Anyone have any other theories? What am I missing?
I think that they want to get a lot of people into an EV. They know from nearly a hundred years of selling cars that if they get a customer that starts at the bottom of the line (think Spark, Cruze etc.) and they have a good experience , they can capture them for future sales. The price cut is a loss leader what with the cost of batteries but they are also saving as they are not doing any serious upgrades to the basic chassis, battery or motor.

As they get out in the world a lot of people will see them and try them. They will then talk themselves into owning one (they hope).
With the gas prices as they are I think it is a brilliant strategy.
A Bolt (or any EV) is a revelation to those unfamiliar with them. The range is very good and the performance will beat anything they are currently driving short of a V-8 or turbo V-6 and in those cases the price and type of car is not in the Bolt target demographic.

I don't think #2 is accurate because all production is based on just in time inventory. Parts arrive literally hours before being used. Thus the suppliers are making them like short order cooks.

#3 Is partially correct IMO as they need a price distance from the EV Equinox that was promised to come in about $30k. Thus a $32k Bolt was just not going to fly.

Bottom line: If they make them, they will sell them.
 

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I seriously think they are losing a decent amount on each bolt. They are okay with this because the whole planet associates Chevy with explosive EVs. They are trying to build back up their reputation by getting a bunch of these fantastic cars to new buyers. EVs are the undeniable future and a big company can’t start out being “the one that spontaneously combusts”.
 

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I can't say I know even a fraction of the details of Zero-Emission Vehicle Program | California Air Resources Board (background info at CARB Mandate For Zero Emission Vehicles) but given that GM had no BEVs they could sell in the US for a long time, they were likely falling way behind in terms of CA ZEV credits during the stop sale.

Balances are at Zero-Emission Vehicle Credit Balances | California Air Resources Board. From looking at pages 3 and 4 of https://ww2.arb.ca.gov/sites/default/files/2021-12/2020_zev_credit_annual_disclosure_ac.pdf, the max credit per vehicle is 4, which the Bolt gets while shorter range BEVs can get <4. So, given that GM will likey be able to move a lot more Bolts in a year than say Hummers due to price, batteries needed, etc., probably best for GM to sell/lease lots of Bolts to get 4 credits each since Hummer EVs wouldn't receive any more per vehicle.

Current Zero-Emission Vehicle Regulation | California Air Resources Board points to View Document - California Code of Regulations. One can see the Credit Percentage requirement increases by model year.

By state, I'm sure the largest % of Bolts GM sells/leases will be in California.
 
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I really don't think it's anymore complicated than the rebate offset. It's the only thing that can explain the lack of change in Canada which is obviously a sister market.

I will say OP's #3 comes incredibly close to the runner up reason which I think they need to slot the Bolt price-wise below the Equinox. To that end I think we could see another 3-6k drop next summer if they don't end Bolt production all together.

Really interesting to see how this plays out overall. Does the Bolt become the Trax Electric? Equinox Electric? Kill the Trax in favor of the Bolt moniker since the trax has limited brand equity?

Off the top of my head I'd kill the Trax, kill the EUV in favor of the Equinox and make the Bolt the small Chevy car with a "Trax" trim that included AWD and offroad components.
 

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I think GM announced the price drop for a simple reason : they have a line of Bolt EUV 2023 that are ready to hit the market, they know they will end the production of Bolt EV/EUV somewhere in 2024. Thus, they make the Bolt EUV more attractive to buy, even if it’s old technology. And yes, what’s old isn’t always bad. The Bolt EV proved that it’s a well build car with a very good battery record over time. The only thing people complain about the Bolt EV is the charging speed. But, for 80% of the population, that’s not a real thing. I think in nowadays times, a household with more than one vehicle, should have at least a Bolt in the garage.
 

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I think GM announced the price drop for a simple reason : they have a line of Bolt EUV 2023 that are ready to hit the market, they know they will end the production of Bolt EV/EUV somewhere in 2024. Thus, they make the Bolt EUV more attractive to buy, even if it’s old technology. And yes, what’s old isn’t always bad. The Bolt EV proved that it’s a well build car with a very good battery record over time. The only thing people complain about the Bolt EV is the charging speed. But, for 80% of the population, that’s not a real thing. I think in nowadays times, a household with more than one vehicle, should have at least a Bolt in the garage.
Saw an interesting reference to the Bolt in an article on Michelin's upcoming airless tires, it was a one line sentence and mentioned that the new tires were being tested on next generation Bolt, i.e. 2024 and beyond; if true the Bolt could stick around for a few more years with updates, wouldn't that be nice especially if they keep starting prices below $30,000.
 

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I think GM announced the price drop for a simple reason : they have a line of Bolt EUV 2023 that are ready to hit the market, they know they will end the production of Bolt EV/EUV somewhere in 2024. Thus, they make the Bolt EUV more attractive to buy, even if it’s old technology. And yes, what’s old isn’t always bad. The Bolt EV proved that it’s a well build car with a very good battery record over time. The only thing people complain about the Bolt EV is the charging speed. But, for 80% of the population, that’s not a real thing. I think in nowadays times, a household with more than one vehicle, should have at least a Bolt in the garage.
The only reason I say it's the $7,500 and only the $7,500 is because of your Canadian flag and 2023 pricing there. But there's no other accounting for the Canadian GM team specifically saying, "nah, we're priced right."

This is coming from someone who is a serial speculator of ulterior motives. As I also said, I'm a big fan of the "getting ready to price beneath the Equinox" theory, but the Canadian stance narrows it down to only one possible reason. $6,300 vs. $0 is a pretty massive difference and like 20% of the value of the car.
 

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Perhaps because they have a ton of batteries now they can lower the prices or because they did so much work on the battery production they can make them cheaper.
 

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The car was competitive, perhaps even a bargain, at it's original price.

This is where I disagree with you. The Bolt was fine/good at a certain price point for basic transportation), not many people here paid the full MSRP for this car. In early 2021 I think, people were paying sub $20k when the car had a $35k MSRP. Many many people paid closer to $25k-$30k depending on trim and you add in a tax credit on top of that.

I think with Equinox EV coming, old tech, limited demand, GM had to cut the price since there are/were better options I've felt. No way anyone should buy a Bolt if the Equinox is at $30k even for short range, basic trim version. It just makes no sense to buy a 2022 priced Bolt for $32-$36k MSRP right now. As bad as some folks say the Korean brands are, that charge rate to 80% in 20 minutes is insane and allows someone to actually own 1 car and use it for longer trips. That's just not possible in a Bolt and the KIA/Hyundai also has a lot of innovative stuff I've seen like cameras on the dash when you signal, etc...

Bolt has mostly dropped in used car prices vs. MSRP while Tesla has pretty much gone up in value. Mine was only worth $15k when I checked during my buyback from 3rd parties. There are also far more Tesla's on the road (high supply/still higher demand) and they still command a higher resale price. I know people still ordering them after their price increase. The Bolt being a very small hatchback/SUV is not in a high desirability segment in the USA.
 

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#1 GM needs to sell EVs for CARB
#2 Alfred Sloan's vision of a car for every purse and purpose. Nevermind low income folks, the middle class is largely priced out of the EV market. Average transaction price for an EV is now over $60K. Somebody has to make entry level vehicles. Even an Equinox starting at 30 is stretching the definition of affordable.
#3 They have a factory tooled up to make it and yes they have stockpiled parts. Set up a stamping machine to make a body panel, for example, they will make a large number in one run, then retool and stamp out another.
 
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The entire Bolt series was origially intended as entry level bait. The pouch cell tech that was used was in its infancy,
and the recall disaster and associated negative publicity put the brakes on Bolt...just like a pandemic does to the rest
of society. Now GM is hoping to finish out the last of this battery, and draw in new buyers. Many new buyers will
be totally unaware of both the recent pouch failures at the Bolt level and that the Bolt is a dead end. GM is thinking that the price alone, in a recession,
will get the entry people that they originally wanted. THEN...nothing but Ultium will be sold in the near future. Blazer
and all other new Ultium based will not be discounted, rather probably raised in price, perhaps due to inflation alone..

My concern is that, just as they begin to deliver on Ultium, that battery may have the same anode/cathode and contactor
problems. Everyone at the top is dropping pouch (VW, Audi, Porsche, et al) and going to closed prismatic. And, of course,
Tesla has always been closed tech.
 
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The only reason I say it's the $7,500 and only the $7,500 is because of your Canadian flag and 2023 pricing there. But there's no other accounting for the Canadian GM team specifically saying, "nah, we're priced right."

This is coming from someone who is a serial speculator of ulterior motives. As I also said, I'm a big fan of the "getting ready to price beneath the Equinox" theory, but the Canadian stance narrows it down to only one possible reason. $6,300 vs. $0 is a pretty massive difference and like 20% of the value of the car.
There is no $ 7 500 in Canada. Never has been. It’s only a $ 5000 from federal for all EV and then each province adds to it. The discount is applied after the taxes were counted. Quebec has a 7000 $ discount for EV so the total discount is 12 000 $ from the full price (taxes included).
 

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I think that Ms Bara is just trying to live up to her promise to get a large number of EV on the road, cheaply.

They claim that they can build the Bolt EV and EUV more cheaply now, but I don't think anybody's buying that.

They just want them on the road, even at drastically reduced prices.
 

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Anyone have any other theories? What am I missing?
My theory is simple, with no access to the EV credit, the Bolt was too expensive for a car limited to 50 kW charging capability and they had to get the pricing under its closest competition, the Leaf.

I personally don't even benchmark the Bolt against Tesla, the Mach-E or the ID-4, to name a few. Different builds, different quality and different capability. And remember, as technology evolves and the offering expands, it's going to be harder and harder for manufacturers to justify a premium price on EVs, especially those that are lagging in fast-charging. Thus my total agreement with the below:

The Bolt was fine/good at a certain price point for basic transportation), not many people here paid the full MSRP for this car.
My wife and I have been very happy with our Bolt as a daily driver, especially because it's been dirt cheap to lease. Couldn't beat the price. But if we'd had to lease it based off a full MSRP, we would have written it off as too expensive and just added the extra money for one of the vehicles with better capability.
 

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There is no $ 7 500 in Canada. Never has been. It’s only a $ 5000 from federal for all EV and then each province adds to it. The discount is applied after the taxes were counted. Quebec has a 7000 $ discount for EV so the total discount is 12 000 $ from the full price (taxes included).
I don't think the implication was that Canada has an exact $7500 incentive. Rather that overall, Canada now has more generous incentives than the US for those buying a Bolt. And GM didn't drop the price by $7500 either, it was only $6300 tops.

In the US, only 11 states have incentives on the purchase of an EV. Nothing here in Minnesota. And no state has anything close to what Quebec has. And you said each province has incentives.

Is there any province in Canada where the total incentive, federal and provincial, is less than $7500?
 
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