$GM flooded the Tampa/Dallas NFL game last night with the new under-stated $30k Chevy Equinox EV.
This ad, ran over and over, and when my wife saw it, she punched me and said, “Had that been available when I bought my Prius hybrid, I would have bought the Chevy.”
I believe Chevy will have a huge hit with this one:
Jalopnik headline: 2024 Chevy Equinox EV Starts at $30,000, Offers Up to 300 Miles of Range The Equinox EV joins GM’s all-electric Silverado and Blazer as the automaker broadens its battery-powered portfolio.
General Motors is going big on electric vehicles, and the automaker’s latest battery-powered offering aims straight at the compact crossover segment. This is the production-ready Equinox EV, which Chevy promises will start at $30,000 — making it the most affordable electric vehicle in its class. And if you’re willing to spend a little more, you could get an upgraded version that promises a full 300 miles of battery range.
Chevy says the internal-combustion-powered Equinox has been the brand’s second most popular product, only beaten by the Silverado full-size pickup truck. So the all-electric version of the crossover had big shoes to fill.
I believe Chevy will have a huge hit with this one>/I>
Maybe so!
Lots of sales. But a loss on each one. Tesla’s costs are way lower than GM (based on design advantages, manufacturing advantages and sales/distribution advantages) and even they would not make money at $30k. This will bleed GM. At least to the extent they make them. So far, they’ve kept production of everything EV low, perhaps to gain experience while keeping the bleed low.
Rob Former RB and BL Home Fool, Supernova Portfolio Contributor & Maintenance Fool He is no fool who gives what he cannot keep to gain what he cannot lose.
“The whole secret of investment is to find places where it’s safe and wise to non-diversify. It’s just that simple. Diversification is for the know-nothing investor; it’s not for the professional.” Charlie Munger
I’m of the mind Chevy can observe and test the many different paths to monthly subscriber income, ala, $TSLA, $NIO, $VWAFY etc, thus, margins on the service end make the actual hardware a “giveaway” which earns its keep later. Think satellite radio when every new Ford or GM product had a Sirius satellite radio or XM radio, installed by the sat radio OEMs - whether the new car buyer chose to turn on the hardware or just use it for a decoration to impress.
Also, I want to see how all car companies respond to both Tesla and VW owning major hunks of America’s growing charger infrastructure.
Smear on some robotaxi income (partnered with GM’s autonomous driving, Cruise™ initiative, which is already making revenue in geo-fenced areas) and one can maybe see how Chevy will sell their cars to Cruise to help manipulate “demand” and “supply”.
Please add contra-points or new thoughts to this thread.
A $30k EV which can go 300 Miles on one charge, sounds like a perfect suburban car for soccer moms, professionals in the arts, etc.
Seriously, taxi companies which employ meat puppets now could more than breakeven on these Chevy Equinoxes.
I once ran the biggest taxi company in all of the Florida Keys. Our biggest cost was insurance, next was maintenance, and then so on and so forth.
Here’s a stat: on a normal 12-hour shift, our taxis would touch 150 to 200 miles per shift. I only saw a few 12-hour shift cars ever hit 220+ miles in a shift, and those were like on emergency runs to Miami.
If Chevy could make a replaceable battery for their EVs, this would most definitely make “inventory” charging a thing of the past.
Just thinking outside the box for now. But yeah, Chevy is going to sell loads of this Equinox EV as long as not many of them catch fire and burn down someone’s house.
Add Cruise, and $GM can enter new revenue paths which were once the domain of old line taxi companies or current ride-hail companies from Silicon Valley.