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The Chevy Bolt Will be Yet Another Cash-Sucking Compliance Car

(Credit: Chevrolet)

Car Manufacturer News

The Chevy Bolt Will be Yet Another Cash-Sucking Compliance Car

2017 Chevrolet Bolt

2017 Chevrolet Bolt (Credit: Chevrolet)

The world of electric vehicles is a cutthroat one, as automakers are constantly trying to one-up each other in price and technology. What’s making it hard on this market is that the price of the technology is not dropping nearly as fast as most were hoping. And this is showing in the losses many companies are taking with each model they sell.

A few years back, FIAT headman Sergio Marchionni came clean that his company was losing a whopping $14,000 on every 500e it sold. That said, it has to sell this rig to meet stringent emissions regulations in nine states, including California. Now, according to The Detroit News, Chevrolet will lose a ton of money with every Bolt it sells.

According to the report, which doesn’t quote anyone from Chevrolet, each Bolt sold will, essentially, pull around $9,000 from the GM coffers. That said this is an investment that GM is happy to make as it not only keeps the automaker compliant in these stricter states but also draws in the younger crowd, which is more eco-conscious and tech-savvy.

The Detroit News reached out to GM to get an official stance on the profitability (or lack thereof) of the Bolt, but a spokesperson gave the standard “no comment” stance.

To help limit losses, Chevy will initially roll out the Bolt only in California and Oregon. This will help the company feel out demand while mitigating losses – oh, and lest we forget the all-important bragging rights as the first-ever long-range, low-cost EV.

We’ll continue monitoring the progress of the Bolt and bring you updates as they become available. Stay tuned!

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