Chevrolet celebrates a great comeback of its electric car sales and strong overall results in the US during the third quarter of this year.
The brand reports that its total sales increased in Q3 by 23.9% year-over-year, to 372,873 units. This allowed Chevy to narrow the year-to-date gap, as after the first nine months, the brand sold 1.1 million cars (down 3.9%).
The most important thing for us is Chevrolet's EV sales results and those are pretty amazing. The Chevrolet Bolt EV/Bolt EUV duo is returning in style (affected by a massive battery recall) and not only rebounding (production resumed in April), but setting new all-time records.
Chevrolet Bolt EV
Chevrolet Bolt EUV
In Q3, a total of 14,709 Bolt EV/Bolt EUV were delivered to customers, which is 226% more than a year ago and the best result ever. Also, the share of BEVs out of Chevrolet's overall volume improved to a noticeable 3.9%.
It seems that it's just the beginning and soon we will see even higher results. According to the manufacturer, demand for the Bolt EV/EUV is so high that it requires increasing production capacity ("for global markets") from about 44,000 in 2022 to more than 70,000 in 2023 (more than 17,500 per quarter).
"In response to unprecedented customer demand, GM plans to increase calendar-year production for global markets from approximately 44,000 vehicles in 2022 to more than 70,000 in 2023."
Chevrolet Bolt EV/EUV sales in the US - Q3 2022
So far this year, more than 22,000 Chevrolet Bolt EV/Bolt EUV were sold in the US. That's 11% less than a year ago, but we must remember that production restarted in April.
Chevrolet Bolt EV/Bolt EUV is one of the best small electric cars on the North American market, which brings an outstanding value proposition.
The latest 2023 model year versions are significantly less expensive: Bolt EV from $26,595 and Bolt EUV from $28,195 (MSRP with $995 DST).
"Demand for the Chevrolet Bolt EV and Bolt EUV have outpaced supply, especially since a new pricing strategy was announced this summer that makes them among the most affordable EVs on the road. The base MSRP for the 2023 Chevrolet Bolt EV now begins at $25,6001 while the Bolt EUV begins at $27,2001."
Chevrolet highlights also its support related to charging, available through a program for qualified customers who purchase or lease a new Bolt EV or Bolt EUV that covers the standard installation of a home charger through Qmerit, or public charging credits through EVGo.
"Most EV drivers do at least 80% of their charging at home, and nearly two-thirds of Bolt EV and Bolt EUV retail customers are choosing Chevrolet’s home charging option."
On top of that, with the changes to the federal tax credit, Chevrolet regains access to the $7,500 federal tax credit in 2023, which might open the way for electrification for many consumers.