The Rising Influence of Rising Affluence

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Fearing battery fires after recalls, people are selling their Chevy Bolt EVs back to GM

https://www.cnn.com/2021/09/18/cars/chevrolet-bolt-buybacks/index.html

In a process that took weeks to finally work out, Schoenfeld sold his Chevrolet Bolt EV back to GM for a price that was at about $10,000 more than he would have gotten simply by trading the car in to a dealer, he said, though he declined to provide specific numbers.

It's a solution that many Bolt owners are resorting to, according to numerous social media reports and CNN Business interviews.

Several people said they are asking for buybacks because they purchased the car expecting it to be able to go a certain distance between charges, up to 259 miles for the most recent models.

In announcing the most recent recalls, GM recommended people not charge the battery to more 90% of its capacity. They also recommended that people not drain the battery to less than about 70 miles of range. That effectively reduced the driving range of even the longest-range models to about 163 miles, according to EPA estimates. In real-world driving, Chevrolet Bolts, like other vehicles, electric or not, often don't achieve their EPA-estimated range.

"After every use, after I come home in the evening, I have get up in the middle of the night to unplug the car," said Schoenfeld

.