Why is the Chevy Bolt being discontinued?

Why is the Chevy Bolt being discontinued?
The decision to discontinue the Chevy Bolt EV and Bolt EUV at the end of 2023 was made by General Motors (GM) as part of their strategy to focus on their new generation of electric vehicles.
Despite the Bolt’s affordability, respectable range, and growing popularity, the discontinuation is expected to spur further advancements in electric vehicles from GM and inspire competition to fill the void with even better-performing, safer, and affordable EVs.
GM may be aware of potential issues that could resurface in the future, and there is also the temptation to make more revenue-generating and better-performing electric cars that can compete in the ever-evolving EV market.
The Bolt duo enjoyed significant success in the market, but they were not without their fair share of issues. GM likely wants to address these issues and make improvements in their future electric vehicle offerings.
It’s worth noting that the Bolt’s discontinuation does not diminish its value as an affordable and high-performing electric vehicle. The Bolt remains among the bestselling electric vehicles and has earned the top spot among EVs in Cars.com’s Affordability Report.
GM’s decision to discontinue the Bolt EV and Bolt EUV is part of their broader strategy to ramp up production of electric trucks, such as the Chevy Silverado EV and GMC Sierra EV, which will use GM’s more sophisticated Ultium propulsion system.
In summary, the discontinuation of the Chevy Bolt is driven by GM’s desire to focus on their new generation of electric vehicles, address potential issues, and make advancements in the EV market.

Why did they discontinue Chevy Bolt?

Not long after Chevrolet had updated the Bolt with a larger 66 kWh battery pack and added the enlarged EUV version, a series of high-profile battery fires led to a stop-sale order and a major recall. It was this crisis, however, that led to the comeback.

What is the lifespan of a Chevy Bolt?

The battery in the Chevy Bolt EV or Bolt EUV is guaranteed to get at least 8 years or 100,000 miles out of a new battery.

Does GM lose money on Bolt?

GM priced the Chevy Bolt at $26,595, which is approximately $2,000 below manufacturing costs, indicating that the model was cutting into GM’s net income during 2022.

How much should I pay for a new Chevy Bolt?

Pricing and Which One to Buy
The price of the 2023 Chevrolet Bolt EV starts at $27,495 and goes up to $30,695 depending on the trim and options. Bolt 1LT and 2LT trims get an EPA-estimated 259 miles of range and can accept DC fast charging.

Does Chevy Bolt have any problems?

Even after this ‘fix,’ the fire problem persisted. In July of 2021, GM told owners to park their Bolts outside away from buildings and not to leave vehicles plugged in to charge overnight. In late 2021, General Motors announced two recalls of all Chevy Bolts EV and EUVs covering model years 2017 to 2023.

What was wrong with Chevy Bolt batteries?

There was one battery issue with the Bolt. A faulty robot in the LG Chem manufacturing plant occasionally mis-folded a tab on a battery pouch, which could result in a short circuit and fire. A dozen or so of the 180k Bolts made up to then burned down because of that.

Does Chevy Bolt hold value?

A Chevrolet Bolt EV will depreciate 16% after 3 years and have a 3 year resale value of $28,575. The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $34,018 when new.

What is the life expectancy of a Chevy Bolt?

The battery in the Chevy Bolt EV or Bolt EUV is guaranteed to get at least 8 years or 100,000 miles out of a new battery.

What is replacing the Chevy Bolt?

Transitioning our focus to the upcoming 2024 Chevy Equinox EV, this innovative compact crossover SUV, destined to replace the discontinued Bolt, elevates its prowess by offering alternatives between Front-Wheel Drive (FWD) and All-Wheel Drive (AWD).

Is Chevy Bolt still a good buy?

Value 10.0/10. The 2023 Chevrolet Bolt EUV has a great value rating for the Electric SUV class. We determine value based on the vehicle’s estimated total cost of ownership, along with the vehicle’s MSRP for its base and top trims.