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How real is the Chevy Bolt EV and will it really cost $30,000?

"This is us bragging that we can do this kind of car." That's how Michael Simcoe, GM's executive director for NA exteriors, described the Chevy Bolt EV concept, which made a surprise appearance at the Detroit Auto Show today. While there was talk of a 2017 production debut, this is for sure a concept vehicle. But that means the ideas behind the vehicle are perhaps more important than the details. For example, no one is talking about what size battery might appear in a production Bolt, but Simcoe would talk about how rapid progress in battery improvements made it possible for GM to make the bold Bolt declaration that promises 200 miles and a price tag of around $30,000 (after incentives). But if the Bolt makes it to market, it won't be until 2017 (as rumored) or later, is it really fair to promote the car as being available with a federal tax credit? For one thing, credits for plug-in vehicles may change in the next few years, but if the laws stay the same, each manufacturer is limited to 200,000 vehicles before the credits start to decline. GM is justifiably proud that it's sold over 70,000 Volts thus far, but with a new model coming out later this year and a few years to go until the Bolt potentially arrives, GM could be pushing right up against that 200,000 limit when the Bolt goes on sale. But Volt executive chief engineer Pam Fletcher told AutoblogGreen that, "We're just trying to take some of the confusion out." "Think about talking to the average consumer," she said. "First, going through the explanation of how the federal tax credit was set up, how it's being used and so on. [In the industry, we] have the luxury of understanding the nuances of that regulation, but right now people who aren't in the marketplace, they don't have the luxury of all that. It's already hard to communicate the details so we gave them data in a way that is what they're used to seeing." There was one question that drove the two-year Bolt gestation and design period, Simcoe said: What does a better battery offer a vehicle designer? "We've got a number of spaces we play in for powertrain technology and obviously electrification is one of them," he said. "With Volt 1 and then the Spark EV, with that development and batteries getting better for us, we started doing some practical packaging to deliver a vehicle which was not the traditional aero form which you see around electric vehicles.

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Opel CEO talks new EV, will likely be fresh face for Chevy, too

The rumored demise of the Opel Ampera has been confirmed, but there's good news, too. Opel CEO Karl-Thomas Neumann has been busy Tweeting information about the brand's next plug-in vehicle, admitting that the Ampera is on the way out but that plug-in vehicles are here to stay. His Tweets, in full, read: After the eventual run-out of the current generation Ampera, we'll introduce a successor product in the electric vehicle segment. Our next electric vehicle will be part of our massive product offensive – with 27 new vehicles in the 2014-2018 time frame. We see eMobility as important part of the mobility of tomorrow and we will continue to drive down costs & deliver affordability. As we learned earlier this week, the Ampera will not be refreshed when the current Chevy Volt is updated, most likely because of slow sales. Opel sold just 332 Amperas in the first five months of 2014. For now, General Motors is still building Amperas in Michigan for export to Europe. So, what might this new EV mean for the General Motors plug-in fleet? Official spokespeople are being quiet, but we think it's safe to say the new EV Neumann is talking about is not simply a rebadged Chevy Spark EV. This is the first official word about an entirely new EV, and we expect it will come to both the Chevrolet and Opel brands.