Chevy Bolt EV sales are down slightly from last year.
As has been the case since the beginning of time, Q1 EV deliveries are not much to get excited about. Especially coming off the yearly highs of Q4. In 2018, the Chevy Bolt and Volt gave solid but unremarkable sales performances. The Bolt seems to be continuing along that path but the Volt appears to be losing traction after inventory dropped to below 2,000 units for most of January and February.
In February, 2019 we estimate that Chevrolet sold 1225 Bolt EVs and 615 Volts.
These estimates are down from the 1424 Bolt's and 983 Volt's that were moved last February. How 2019 shakes out from a sales perspective cannot be predicted based on Q1 sales. What we do know is that the Volt will suffer a severe drop in sales over the next few months.
The Volt began the month with only 1,700 units in inventory. A final production push increased inventories to about 2,300 over the past few weeks. But production of the popular plug-in has officially ended. There are not many examples left for buyers interested in the car.
The removal of the Volt from the lineup should leave room for the Bolt to improve sales this year. However, with GM’s reduction of the federal tax rate looming, the future performance of the Bolt is hard to predict as well.
The Detroit automaker would be smart to reduce pricing on the Bolt EV as Tesla has done for the Model 3. The 2020 or 2021 model year is also prime time for a mid-cycle update. Even a minor refresh of the interior and exterior could help breathe new life into a model that is stagnating. Not to mention the addition of features not found in the Bolt, but standard or, at least, available in competing models.
We also have learned that South Korea will again receive an extensive number of Bolt EVs this year. This will reduce the number of Bolts available to US buyers as it did last summer. But thankfully, production has been increased on the Bolt, so inventory drops should not be as severe as they were in 2018.