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From Electrek: Report: GM will lose ~$9,000 for every Chevy Bolt EV it sells before ZEV credit

Discussion in 'News from Electrek.co' started by RSSFeed, Nov 30, 2016.

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  1. RSSFeed

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    Report: GM will lose ~$9,000 for every Chevy Bolt EV it sells before ZEV credit

    [​IMG]

    I received a lot of negative comments after I’ve called the Chevy Bolt EV a compliance car following GM’s cancellation of the nationwide availability at launch. My suspicion and some whispers I’d heard pointed toward GM losing thousands of dollars on each Bolt vehicle before accounting for ZEV credits in California and other markets.

    Electrek talked off-the-record with a few people familiar with the Bolt EV program and the figure of $10,000 was thrown around as the anticipated average loss per vehicle before incentive. Now Detroit News today is corroborating with a similar story citing a person familiar with the matter claiming the anticipated loss on the $37,500 base price is roughly $8,000 to $9,000. more…

    Filed under: Uncategorized [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG] [​IMG][​IMG]

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    • garsh

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      Well.... crap.
      If they can't get the costs down, then they won't have any incentive to sell it nationwide, and it really will end up being a compliance car. :(
       
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      • Michael Russo

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        So... guess you'll have to satisfy yourself with the MODEL ≡ then, @garsh ... bummer...?!! :p

        But, all jokes aside, I'm with you... it really would be better if they would sell it more broadly for a faster penetration of BEV... and since we continue to reaffirm without any ambiguity that it is no true competition for MODEL ≡, hence enlarging the total size of the pie...
         
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        • Blackout

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          They can't compete with Tesla...the way I see it either they get serious in building EVs Cut down on Their current model and invest and transform their current plants into Batteries manufacturing /Evs assembly?
          Or get off the EV market, enjoy the next 10 years before they get bankrupt...Eventually the world will switch to EV in the 21st century and the early adopter will benefit from this...if they are serious about it...
           
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          • TrevP

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            GM made a lot of noise about the Bolt and even took jabs at Tesla.

            Things are not so rosy for them since the car went into production and the skeletons are starting to awaken.
             
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            • Badback

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              GM can't benefit from the incentive in any case, other than to increase their loss by spurring sales.

              Maybe they can't make more because they can't get enough batteries. And, they can't get their cost down because they can't make more. Catch22?
               
            • Dan Detweiler

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              The GM position regarding EV's is really disappointing. As a long time Volt driver I had high hopes when I bought the car four of years ago that they would commit themselves to really competing in the EV market.

              ...silly me.

              Dan
               
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              • Michael Russo

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                Well, @Dan Detweiler , don't feel bad, you've come to the right place... I don't think there is any doubt about Elon's commitment to establish T≡SLA as a force to be reckoned with not only as a car company to be reckoned with but also as a fully integrated alternative energy company shaping the world! Sometimes winners of the past make way to new leaders... :)
                Good evening!
                 
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                • garsh

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                  GM is still gaining experience at building electric cars, moreso than any other manufacturer other than Tesla (or maybe LG Chem is gaining the experience? Let's ignore that for now). When the market for electrics takes off, GM will have an easier time transitioning than other automakers. They'll survive the transition, and continue making average cars, while other automakers (like Fiat-Chrysler) will probably go under.
                   
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                  • MelindaV

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                    Not feeling very sympathetic to them - if they can make an ICE of similar size/quality for $20k, why can they not convert that to an EV within their MSRP? Are they proposing the batteries, motor, etc is $25k over the price of a gas engine, transmission, radiator, starter, alternator, etc that would be deducted?
                    Or more likely, that $8-9k is factoring in R&D that now is spread out over many fewer vehicles anticipated to sell than they previously planned (maybe before 11/8?)

                    Also found it interesting that on a local Portland chevy dealership's website, once I found the Bolt page buried, it had lease "promotions" that in the fine print state they are only valid to Oregon residents (even though Washington is also a ZEV/CARB state).
                    [​IMG]
                     
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                    • Dan Detweiler

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                      I am reluctant at this point to believe that GM wants anything other than to see the EV as a whole die on the vine. They may be positioned to reluctantly accept the general public acceptance of the EV better than some other manufacturers, but that doesn't mean they are going to support them either. They are going to go down kicking and screaming, just like all the other ICE giants.

                      Dan
                       
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                      • garsh

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                        Agreed. They are not pushing for an EV-world, just positioning themselves to survive in one if necessary.
                         
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                        • Michael Russo

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                          I don't want to defend GM at all, though objectivity forces me to recognize that they have done some surprising things in the recent 5-6 years, haven't they...? Thinking of the complete rejuvenation & positioning of the Buick brand for instance (which ten years ago I would not have bet a dime on and is now THE brand they chose to grow in China), some of the newer Cadillac and of course the Corvette... (wouldn't an e-Vette be a sweet image boost? :)). Of course, all this is in their core ICE business yet @Dan Detweiler keeps reminding us that the Volt was a great 1st step in the right direction, sadly not properly followed by what may turn to be a missed opportunity with the Bolt...
                          So, was just giving a shot at being objective ... can GM surprise us with a commitment to BEVs at some point....? Skepticism is understandable... :)
                           
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                          • garsh

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                            Note that the Buick brand has been HUGE in China for about 100 years. It is viewed as a luxury brand there. When GM was killing off Saturn, Pontiac, and Oldsmobile, there was no doubt that Buick would survive the purge due solely to China.
                            Buick’s Road to Success in China
                             
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                            • BigBri

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                              • Michael Russo

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                                True, good reminder, yet for a couple of decades - mainly the eighties & nineties - here (and I mean in the good US of A, NOT China though I happen to be close now... :p), Buick seemed to only appeal to classy old ladies with pointy glasses & slightly purple hair... :) And look at how well they're doing currently outside of China... May have started as a rebadged Opel but still... :)
                                 
                              • Michael Russo

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                                OMG... LMAO... what a bunch of baloney!!!
                                Some of the non-facts and blatant lies are truly shameful dirt!
                                 
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                                • BigBri

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                                  Yeahhh either this is more anti Elon/Tesla nonsense or this guy is way overpaid for someone that doesn't know how to do basic research. GMs stock should be the one getting hit for saying they'd make an EV, making one that people like but not being able to sell them in most places.
                                   
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