Chevy Bolt carried GM’s EV sales in Q2, but they are still falling

GM’s electric star, the Chevy Bolt EV (and EUV), continues to carry the weight for the automaker’s fully electric lineup. Despite sales of the Chevy Bolt EV doubling YOY, numbers are down from the first quarter.

Chevy Bolt props GM EV sales in Q2, but for how long?

General Motors sold 15,652 EVs in the second quarter of 2023. The Chevy Bolt EV and EUV accounted for 13,959 of those.

Although Chevy Bolt sales are up 101% from last year, they are actually down from the first quarter. In the first three months of the year, GM sold 19,700 units, up from 358 in Q1 2022.

The YOY comparison is not exactly fair because the Bolt was recalled, with production resuming last April. Since then, the Bolt has become a top-selling EV model in the US for its affordable price and versatility.

During the automaker’s first quarter earnings call, CEO Mary Barra explained that, despite the models’ progress, “it’s now time to plan to end the Chevrolet Bolt EV and EUV production, which will happen at the end of the year.”

Buy Chevy Bolt EV
Chevrolet Bolt EUV (Source: GM)

The move comes as GM moves to an all-Ultium-based EV lineup. GM already has two electric models based on the Ultium platform, the Hummer EV and Cadillac Lyriq.

Both the Hummer EV and Lyriq have struggled to gain a footing as GM goes through growing pains.

2023 Hummer EV pickup and SUV versions (Source: GM)

Barra explained during an interview with NBC News last month that battery production is currently holding the automaker back. After selling a total of two Hummer EVs in the first quarter, GM recorded 47 sales in Q2, down 83% from last year.

Meanwhile, Cadillac’s Lyriq isn’t faring much better. GM sold 968 Lyriq models in the first quarter and another 1,348 in Q2 2023.

2024 Cadillac Lyriq models (Source: GM)

With GM phasing out the Bolt EV, the automaker has high hopes for its upcoming Ultium-based lineup. By the end of the year, GM will launch three new Ultium electric models, including the Silverado EV, Blazer EV, and Equinox EV.

Barra also hinted an Ultium Bolt EV could be in the works, saying, “It’s a very important vehicle in our lineup, so you will have to wait and see what we end up doing” last month.

Electrek’s Take

With GM experiencing battery production constraints, it looks like the automaker is turning to ICE vehicles to fill the gap until its battery plants are up and running.

GM’s first plant in Warren, Ohio, began producing battery cells last fall. The second, in Spring Hill, Tennessee, is expected to come online later this year, while its third, in Lansing, Michigan, is slated to open in 2024. GM revealed plans for its fourth, a $3 billion plant, last month in the state of Indiana.

Altogether, GM expects to have roughly 160 GWh of battery cell capacity when all plants are fully operational, but this won’t be for another few years.

Until then, GM is taking the easy route by filling in the gap with ICE vehicles. Out of the 691,978 vehicles sold in the second quarter, only 15.6K were electric, representing 2.26% of the total. Not exactly impressive for a company that claims to be phasing out gas cars for an all-electric future.

FTC: We use income earning auto affiliate links. More.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *