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General Motors boosts production of the Chevy Bolt after high sales of the electric vehicle

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It seems that US electric vehicle buyers are finally realizing that Chevy’s Bolt twins are a big deal, as sales have more than doubled since last quarter. The firm plans to increase production by more than 60% by 2023, which means a resounding success for the low-cost electric model.

General Motors will sharply increase production of the Chevrolet Bolt EV and Bolt EUV crossover SUV after sales doubled between the second and third quarters of 2022.

More than 70,000 Bolts to be manufactured in 2023

In announcing its electric vehicle sales earlier this month, GM reported that the Bolt and EUV added 14,709 sales in the third quarter; a record for the family in a single quarter, and more than double the sales volume of the second quarter. Consequently, GM said it plans to increase production of Bolt-family electric vehicles from around 44,000 worldwide in 2022 to more than 70,000 in 2023. Depending on what GM says, that could mean increased production of the Bolt family. 60%.

What is the reason for the success in sales of the Bolt

The reason for the rebound of the Bolt family after the battery recall fiasco can be attributed to their undisputed status as the cheapest electric vehicles in the United States. Earlier this year, GM instituted thousands-of-dollar discounts on both models, lowering their starting prices to $26,595 for the hatchback and $28,195 for the EUV crossover.

Chevrolet Bolt EUV 2023
Chevrolet Bolt EUV 2023

 

That makes them even cheaper than the Nissan Leaf or Mini SE, which are desperately lacking in range by comparison. The Bolts’ momentum looks set to continue through the end of the year, as GM confirmed in September that it would extend its Bolt rebate program through the final quarter of 2022.

Chevy Bolts could get more attractive

Although the discount expires at the end of the year, the possibility of GM’s electric vehicles once again becoming eligible for tax credits means EV buyers could still be lured by the Bolts, and that’s before considering the other incentives from GM. GM.

Currently, GM is paying Bolt buyers to get free public charging sessions with EVGo or installation of a Qmerit home charger, which nearly two-thirds of buyers have chosen.

GM seeks to dominate the market for affordable EVs

Between Chevy aggressively pushing Bolts and preparing to launch the equally affordable Equinox EV, it looks like GM will have the budget end of the EV market locked in for quite some time.

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