Chevy production lines sit idle in anticipation of auto workers returning to work. The Coronavirus (COVID-19) pandemic has wreaked havoc in the auto industry, and major manufacturers are anxious to get the lines moving again. There’s still no end in sight as plans for future models continue to get pushed back.
Q1 sales were rough across the board, with consumers staying home and out of the dealership sales offices. General Motors reported that the entire Chevrolet product line experienced a discouraging decrease of 3.8 percent for the first quarter of 2020.
They did have two shining stars in their lineup that showed a remarkable increase for Q1, though. Both of the vehicles were electric cars, signifying that the competitive EV market might finally be giving Chevrolet the recognition they deserve.
The 2020 Chevy Bolt experiences an increase in Q1 sales
The Chevy Bolt, classified as a midsize all-electric vehicle, also experienced an increase in U.S. sales for the first quarter of 2020. The Q1 sales for 2019 were 4,316 compared to the Q1 2020 sales of 5,874 units, reflecting a 36.1 percent increase overall.
Analysts credit this impressive increase in U.S. sales with lucrative incentives, discounts, and rebates. These reported sales figures make the 2020 Chevy Bolt one of the most popular electric vehicles in the United States. Although to be fair, the Bolt still has a long way to go to catch the ever-popular Tesla Model 3.
How the 2020 Chevrolet Bolt became one of the most popular EVs
General Motors made the 2020 Chevy Bolt too good to pass up for consumers. In March 2020, the automotive giant offered a $10,000 discount on the purchase of a new Chevy Bolt. They also offered leases that started at less than $200 a month.
March also signaled the end of the $1,875 Electric Vehicle Tax Credit that was being offered to new buyers. Beginning in April, the tax credit disappeared, and consumers could no longer take advantage of the huge savings. This may have piqued buyers’ interest to purchase the Bolt before the federal incentive went away.
The future of Chevy electric cars
It’s yet to be seen what will happen in Q2 2020. The COVID-19 situation has left the auto industry with a lot of unknowns. But, what is certain is that when the production lines start rolling again, Chevrolet will be focusing their attention on their lucrative EV line.
General Motors recently announced it will be delaying the launch of the comfort and technology refresh for the Bolt, which was expected later this year. A GM spokesperson confirmed the refresh will now arrive in 2021 as the 2022 model. The all-new Bolt EV electric crossover is still on schedule to be released in 2021.
General Motors held an “EV Day” in early March to reveal plans for 10 new EV models that will be brought to the design table in the next few years. Aside from the best-selling Chevy Bolt, most of the new EV vehicles are going to be larger automobiles.
The Hummer, Cadillac, and Buick lines all have EV models coming soon. There’s even an all-electric pickup truck in the works for the 2024 model year. Once factories reopen and auto workers can return to the line, the future for Chevrolet EV looks bright.