GM Inside News Forum banner
1 - 2 of 2 Posts

Premium Member
8,870 Posts
Discussion Starter · #1 ·
Car & Driver
October 5, 2021

The ongoing cost of the recall that affects every single Chevrolet Bolt EV ever made is, according to some reports, around $1.8 billion. The main driver for the eye-popping number is the fact that GM's solution to the recall is to replace at least some battery modules in all 110,000 Bolts that were sold in the U.S. The scale of this program has led some Chevy dealers to assume the automaker will implement a buyback program for the faulty EVs rather than pony up to replace the batteries.

"[GM is] already going to pay half the value of the car with the new battery. Buybacks will be way cheaper for them," an anonymous dealer told InsideEVs. There are other signs that the recall isn't dampening the value of these electric vehicles, which are still under temporary safety suggestions from GM and the National Highway Traffic Safety Administration (NHTSA) not to overcharge or overdischarge the battery. Manheim Auctions, InsideEVs notes, is forecasting that a 2021 Chevy Bolt will only lose around $100 in value over the next 12 months. The result? Dealers are buying up lots and lots of Bolt EVs from customers looking to sell.

But a buyback—a massive buyback, at least—is not in the official plans.

"We haven't changed our plan, which is to replace all battery modules in the 2017–2019 model year vehicle population and replace defective modules in the 2020–2022 model years," a GM spokesperson told Car and Driver. "We continue to consider buyback requests on a case-by-case basis."

1 - 2 of 2 Posts