General Motors will no longer distribute its Chevrolet Malibu sedan after this November.
Instead, the company is shifting to make more of its electric vehicle Chevrolet Bolt sedan. The Kansas City, Kansas, manufacturing plant will also pause production on its Cadillac XT4 in January 2025 to make room for the Bolt.
Chevrolet reported a 16% increase in sales for the first quarter. This last quarter was also the third consecutive record for Bolt EV and Bolt EUV. The 2023 Bolt was the cheapest EV of its kind on the market.
Last year, Chevrolet sold over 130,000 of its Malibu models. Meanwhile, over 23,000 Bolt models sold that same year.
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Across the United States, consumers bought 352,390 plug-in vehicles during the first quarter. GM accounted for 20,000 of those car sales.
Toyota seems to dominate the market after having sold 50% of EVs purchased in March. Some 36.6% of total sales for its first quarter were made up of EV models, which was a 74% increase. However, Ford lost $1.3 billion in its electric vehicle department during the first quarter of 2024, which is about $132,000 per vehicle it sold.
