Chevy Bolt EVs are being marked up by dealers with production ending soon

Published

8 months ago

October 25, 2023

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With the current Chevy Bolt EVs being phased out at the end of the year, dealers are marking up the models by as much as $5,000. The dealer markups have been happening all year, but with production ending soon, how will GM handle the transition?

A quick search online shows that the markups are happening at many Chevy dealerships. In fact, dealers have been marking up Chevy Bolt EVs for at least a year now, according to posts on social media.

The markups are making one of America’s most affordable EVs that much more expensive. At Koons Tysons Chevy Buick GMC in Virginia, all Chevy Bolt EVs, including the EUV, are marked up by $5,000.

Online research firm CarsDirect contacted the Virginia-based dealership to see what the markups were all about.

A salesperson told them the dealership has one of the “largest inventories in the region,” and the markups were due to market demand.

The dealership has a 2023 Chevy Bolt EUV LT listed for $36,880. That’s $5,000 over its MSRP of $31,880.

Chevy’s website lists the Bolt EV (1 LT) with a starting price of $27,495, while the Bolt EUV (LT) has an MSRP of $29,290.

Although both models qualify for the $7,500 EV tax credit, dealer markups are nearly wiping out the incentive.

Meanwhile, many automakers have moved in the opposite direction on pricing to spark demand. Ford introduced new incentives for up to $13,000 off the Mustang Mach-E after introducing a significant discount on the F-150 Lightning earlier this month.

Hyundai followed Tesla’s lead in cutting lease prices on its IONIQ 5 and IONIQ 6, offering some of the best rates on the EVs since launching.

Electrek’s Take

GM revealed Tuesday that it was delaying production of the Equinox, Silverado EV RST, and GMC Sierra EVs to protect pricing and boost profitability.

Meanwhile, the company already announced its plans to end production of the current-generation Chevy Bolt EV and EUV at the end of the year.

Although an Ultium-based Bolt EV is confirmed, GM has yet to share a launch date. On the company’s earnings call, GM’s CEO Mary Barra said that the next-gen Bolt would be the first model to feature LFP batteries in North America. Barra explained that engineering improvements and “a significantly cost-improved battery pack using purchased LFP cells” will enable lower prices.

But, again, there’s no word on when it will hit the market. With production of the current Bolt EV ending in a few months and the $30,000 Equinox EV delayed, what affordable EVs will GM offer?

The automaker continues promoting “EVs for everyone” but raises the 2024 Blazer EV starting price from an expected $45,000 to $56,715.

With the Equinox EV being pushed back, GM is leaving itself vulnerable. The automaker is essentially abandoning its largest EV market in affordable EVs until we hear more about when (and if) the $30,000 Equinox EV will roll out.

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Porsche to recall over 31,000 Taycan electric cars due to a brake malfunction

Published

3 hours ago

June 26, 2024

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Porsche to recall over 31,000 Taycan electric cars due to a brake malfunction

The all-electric Porsche Taycan was hit with another recall. Porsche is recalling certain 2020 to 2025 Taycan models over a faulty front brake hose.

Porsche issues new Taycan recall: What to know

Porsche introduced its first electric sports car, the Taycan, in 2019. Since then, Porsche has sold over 150,000 models globally.

Despite its early success, the Taycan has been hit by several minor recalls. Last December, over 41,000 Taycan models were recalled due to a faulty charging cable. Meanwhile, a few hundred models were recalled in March due to a potential short circuit within battery modules.

Porsche issued its latest Taycan recall for certain 2020 to 2025 models this week. The letter states the front hoses on these vehicles can crack over time and leak brake fluid.

According to Porsche’s letter to the NHTSA, the recall impacts 31,689 Taycan models. After receiving several reports about brake hose leakages, Porsche issued an investigation.

Although no accidents have been reported in the US, Porsche is issuing the recall out of an abundance of caution.

One accident was reported overseas, but the vehicle was traveling “significantly” over the speed limit. According to the report, the car was traveling about 120 km/h in a 30 km/h zone.

Porsche dealers will install a new front brake hose with increased flexibility to reduce the load, free of charge. Owner notification letters are expected to go out on July 3, 2024.

Porsche-2025-Taycan — 2025 Porsche Taycan interior (Source: Porsche)

Taycan owners can contact Porsche’s customer service at 1-800-767-7243. The recall number is ARB0. You can also visit the NHTSA website or call the hotline at 1-888-327-4236. The NHTSA campaign number is 24V-455.

Meanwhile, Porsche introduced the new 2025 Taycan model in February with more range, faster charging, and quicker acceleration than ever.

The following month, Porsche unveiled the Taycan Turbo GT, its fastest street-legal vehicle. The 1,092 hp electric sports car can sprint from 0 to 60 mph in 2.1 seconds, rivaling the Tesla Model S.

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Ford trims EU leadership as it struggles to keep pace in the shift to EVs

Published

4 hours ago

June 26, 2024

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Ford trims EU leadership as it struggles to keep pace in the shift to EVs

Ford is cutting its EU leadership team as the automaker struggles to keep up with the market’s shift to EVs. After losing its European boss to Volkswagen, Ford is reorganizing its business to get the brand back on track.

Ford’s European top executive, Martin Sander, left the company earlier this month to join Volkswagen. Sander joined the VW brand as its new head of sales and market.

The loss is significant as Sander played a key role in launching Ford’s first EV build in the EU, the electric Ford Explorer.

Ford began Explorer EV production earlier this month at its new dedicated EV center in Cologne, Germany. The electric Explorer is the first EV spawned from a 2020 partnership with VW to use its MEB platform.

Sander’s position will be eliminated as Ford reduces its headcount at its European headquarters in Cologne.

Ford said the changes were part of a broader “transformation of its European business.” Starting July 1, 2024, Ford will have four directors in Cologne, down from nine.

Ford downsized EU leadership amid struggles

The downsizing “simplifies” its management structure, according to Kieran Cahill, Chairman of the Supervisory Board of Ford-Werke GmbH. Cahill explained the move “gives us more speed of action” as Ford looks to turn around its European business.

According to German auto news outlet Automobilwoche, Ford’s EU leadership changes come as the automaker struggles to stay afloat.

The report claims the new electric Explorer must drive sales. Otherwise, “Ford could completely abandon its car business in Europe in the medium term.”

With roughly 98% of profits coming from the US, Ford is moving cautiously in the EU. Its second EV based on Volkswagen’s MEB platform is expected to be revealed shortly. Ford plans to begin production on its second MEB-based EV, following the Explorer, later this year.

In the US, Ford was the second best-selling EV brand (excluding combined Hyundai and Kia sales) through the first five months of 2024. The Mustang Mach-E is the third top-selling electric car behind Tesla’s Model Y and Model 3.

Meanwhile, the F-150 Lightning is still America’s best-selling electric pickup. However, Tesla Cybertruck sales are climbing while new EV trucks are hitting the market.

Ford-F-150-Lightning — 2024 Ford F-150 Lightning Flash (Source: Ford)

Earlier this month, Ford cut Mustang Mach-E lease prices by up to 400% to maintain momentum.

If you’re in the market for a new EV, now may be the perfect time to start shopping at some of the lowest prices yet. You can use our links to find deals on Ford’s electric vehicles at a dealer near you.

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Environment

Here’s how big of a difference tires can make on Tesla Model 3

Published

6 hours ago

June 26, 2024

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Here's how big of a difference tires can make on Tesla Model 3

A fascinating new test highlights the impressive difference EV-specific tires can make on the efficiency of a Tesla Model 3 – though it would also apply to other vehicles.

Electric vehicles have had an interesting impact on the tire industry. Like many other aspects of cars, electric vehicles have pushed tires toward efficiency optimizations.

Several tire manufacturers have been releasing tires optimized for the weight and efficiency needs of electric cars.

Tire Rack, an online tire retailer, has decided to put those tires to the test in a Tesla Model 3 on a 100-mile loop.

The results were really interesting as they highlight how big of a difference on efficiency tires can make.

Here are the results:

Hankook iON evo AS: 263 Wh/mile
Goodyear EcoReady: 269 Wh/mile
Continental ProContact RX (T1): 272 Wh/mile
Goodyear ElectricDrive 2: 274 Wh/mile
Yokohama ADVAN Sport EV A/S: 274 Wh/mile
Pirelli P Zero (PZ4): 274 Wh/mile
Bridgestone Turanza EV: 276 Wh/mile
Michelin Pilot Sports 4S: 290 Wh/mile
Michelin Pilot Sports All Season 4: 292 Wh/mile

They were all tested on the Model 3 with 18″ wheels except for the EcoReady, which was tested on 19″ and certainly negatively affected the results.

Regardless, this shows a 29 Wh per mile difference in efficiency between the most efficient and less efficient EV-optimised tires. That’s very interesting.

However, efficiency is not everything. Tires are also about performance, safety and longevity.

Tire Rack also tested them on the track, both dry and wet, and did some stopping tests.

Here our the rankings based on the track results (score out of 10):