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.”
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.
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.
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.
