Next-generation Bolt to be exclusively offered in European Union markets, reflecting the growing SUV trend in the automotive industry
In a move that signals a shift in the automotive market, General Motors (GM) has announced its decision to focus on SUVs and the introduction of the Bolt EUV, a larger and more expensive variant of the popular Chevrolet Bolt EV.
The Bolt EUV, taller and larger than its predecessor, is set to leverage the best attributes of the Bolt EV. This new vehicle, based on GM's new Ultium platform, is expected to save billions in capital and engineering expenses, as the company decides not to produce the Bolt EV.
The Bolt EV, currently experiencing its best year of sales ever, has been a popular choice among consumers. However, with the US vehicle market dominated by SUVs, the absence of the Bolt EV leaves a gap in the market for customers seeking smaller vehicles or alternatives to SUVs.
The Bolt EV, at 163 inches in length, is dwarfed by the upcoming Equinox EV, which is 190 inches long and has an identical cargo space. While the Equinox EV will be the focus for customers who do not want an SUV, only the Bolt EUV version will be produced.
The recent focus on SUVs by automakers, including GM, has contributed to the dominance of SUVs in the US market. This trend has resulted in higher pedestrian deaths and worse emissions, a concern that the recent EPA regulations aim to address. The regulations propose to narrow the numerical stringency difference between the car and truck curves, indicating an attempt to correct the error that has led to the SUV dominance in the market.
The Inflation Reduction Act includes tax credits for EVs, but these are capped at $55,000 for cars and $80,000 for SUVs and trucks. This cap could potentially disadvantage consumers seeking the more affordable Bolt EV, as the recent Bolt EUV ad claims it is the most affordable EV in America, but the Bolt EV is actually $1,300 cheaper.
GM's decision to focus on SUVs and the elimination of the Bolt EV has raised concerns among some consumers and industry experts. A slide shared by the company shows that America's largest manufacturer only offers SUVs, with the exception of the Bolt EV hatchback. Critics argue that this decision ignores 30% of its customers who prefer car-like EVs.
Despite these concerns, the Bolt EUV and the Equinox EV are expected to be key players in the rapidly evolving electric vehicle market. With the Bolt EUV's affordable price point and the Equinox EV's larger size, GM is positioning itself to cater to a wide range of consumers in the SUV-dominated market.
