Technology Stocks : The Electric Car, or MPG "what me worry?"

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From: Eric1/3/2018 11:44:51 AM
   of 5550
Chevrolet Bolt EV Sales Soar, Surpassing Milestone Of 3,000 Sold

2 hours ago

by Steven Loveday


Chevrolet Bolt EV

The Chevrolet Bolt EV finishes 2017 with an impressive run, as the 238-mile EV solidifies earlier sales estimates.

The Bolt EV has been in a pretty advantageous position, at least thus far, with the Tesla Model 3 just finally beginning production ramp up in more substantial numbers, and the new 2018 Nissan LEAF just coming into the mix soon. Neither of these longer range/lower cost EVs has put up serious numbers as of yet, leaving the market to the Chevy alone. Although, it may only be a matter of time since the Model 3 is starting to see volume production and the LEAF is arriving in the coming weeks.

The new 2018 Nissan LEAF should give the Chevrolet Bolt a decent run for its money now that it’s arriving. However, we still have to wait a few weeks or more.

Additionally, December is historically the strongest sales (not leasing) month of the year for plug-ins. This is mostly due to the way the $7,500 fed credit works. Nonetheless, the Bolt EV finds itself as America’s third best-selling plug-in offering this month, following two months in a row in the top spot.

As usual, Tesla is finishing the year strong (although not as strong as 2016), putting the Model S in the number one spot followed by the Model X in second place.

For December, 3,227 Bolts were sold, topping the 2,987 moved in November.

The month’s sales also mark a whopping 10 consecutive months of gains. For the year, 23,297 Bolts have been delivered – second only to the Tesla Model S, which will take down the year’s best-selling title for the third year in a row.

In October, GM publicized its future electrification plans, which will include up to 20 electric vehicles. In the short term, GM will offer two new all-electric vehicles inside of the next two years.

As we previously reported, the first is a Bolt-based Buick utility vehicle. We received exclusive information back in July from a source who attended a GM focus group. During the event, GM accidentally included the upcoming information in a presentation given by CEO Mary Barra (check out that photo below). We expect to see this model debut in Detroit in January and be available in the fall.

An InsideEVs anonymous source was at a focus group this summer and confidently states THIS is GM’s next all-electric vehicle – a compact utility offering under the Buick badge

While Chevy Bolt EV sales continue to strengthen, its stablemate, the Chevrolet Volt, not only has to compete with the Bolt but a large and growing range of plug-in hybrid rivals.

Chevrolet Volt: An ever-growing field of plug-in hybrid competitors has cut into the Chevrolet Bolt’s stablemate

November welcomed the Honda Clarity PHEV – which has been priced strongly ( $33,400 for a mid-size car with 47 miles of range) and is likely to become Volt’s toughest competition to date. We’ll soon see if Honda is keeping it in stock and how it fares in 2018.

In addition to the Clarity, Hyundai just released outstanding pricing for its IONIQ Plug-In Hybrid, which starts at $24,950.

Also, while the Toyota Prius Prime hasn’t seen a sales surge, it has still been able to place narrowly ahead of the Volt for five straight months. We’ll know soon how it ranks this month.

With the growing mix of PHEVs and aggressive pricing, the Volt may continue to see declining sales into 2018.

For December, GM sold 1,937 Volts (against a total of ~26 other plug-in offerings in the U.S. market). This is down from 47.5% from the 3,691 sold in December of 2016.

For the year, GM has now sold 20,349 Volts, down 17.7% from the 24,739 moved a year ago.

Nonetheless, the news is positive for GM, as the company sold 5,164 plug-ins in December and 43,646 in 2017. As per usual, we are excited to report another all-time high!
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