ALG Sets Bolt EV's Residual Value
Photo of 2017 Chevrolet Bolt EV by Paul Clinton.
The 2017 Chevrolet Bolt EV should retain as much as 39% of its value after three years of retail leasing, which is significantly better than other mainstream competitors, according to ALG.
The forecast comes as Chevrolet has begun rolling out the vehicle for sale that should reduce range anxiety among buyers with its 248-mile range and $30,000 price after a federal incentive.
"While seemingly low, this is still considerably stronger than the other mainstream EVs currently on the market such as the Nissan Leaf, Kia Soul EV, VW e-Golf, and Mitsubishi i-MiEV," said Patrick Min, a senior project manager with ALG.
Retention rates for the other models have been set at 34% for the Volkswagen e-Golf, 26% for the Kia Soul EV, 25% for the BMW i3, 18% for the Nissan Leaf, and 17% for the Mitsubishi i-MiEV.
The residual values of battery-electric vehicles can be affected by something known as residual subvention, which are grants from the automaker to incentivize purchasing and leasing.
"This is what helps achieve targeted/competitive monthly payments for the lease program. These lease program residuals are often adjusted through incentive support," Min added.
The forecast sets values based on three years of retail leasing with 15,000 miles per year. It's meant to represent the open auction resale price after three years.