For two years, the Chevrolet Equinox EV has caused a lot of ink to flow. It draws crowds for several reasons, but everyone was talking about the advertised price for the entry-level version. The manufacturer had announced an initial price of $37,699, including transport and preparation costs, a strategy described as very aggressive. However, as we approach the marketing of the first copies of the model, this attractive price has been removed from the manufacturer’s Canadian website.
This withdrawal suggests two possible avenues. The first is an increase in the floor price for this new vehicle. At $37,699 in its 1LT version basic, including transport and preparation costs, the Equinox EV was shaping up to be the cheapest electric vehicle on the market. In an inflationary context, where each manufacturer is revising its price structure upwards, it would not be surprising if Chevrolet decided to revise the announced price upwards. Consumers could, however, be disappointed with the new price of the vehicle, they who had undoubtedly been interested by the aggressive price of the model, which defied all competition.
The other possible avenue is the disappearance of the base 1LT version. We reported to you, a little over two months ago, that the base version of the Chevrolet Blazer EV would ultimately never be sold here, contrary to what the manufacturer initially claimed. Will the Equinox EV 1LT suffer the same fate? According to our estimates, it is unlikely that this basic version will be eliminated completely, given its attractive power. In addition, it is still displayed on the manufacturer’s Canadian website.
What to expect?
As of this writing, GM Canada has not responded to our requests for information regarding this possible price change. This 1LT version should arrive on our roads next spring, as the manufacturer has suggested for several months now. This official arrival would take place a few months after the marketing of the first Chevrolet Equinox EV, in the 2RS version, which should begin in the fall of 2023.
However, according to information reported by Electrek, and revealed by GM on the occasion of the unveiling of the report for the third quarter of 2023, production of the Chevrolet Equinox EV, Chevrolet Silverado EV and GMC Sierra EV would be postponed “by a few months”. This would aim to protect the sale price, but also to ensure better profitability for the company. Even if nothing is confirmed by the manufacturer, it is a safe bet that the dates announced for the marketing of the different versions will not be respected. Delays should therefore be expected.
The Chevrolet Equinox EV will be assembled in Mexico at the Ramos Arizpe plant.
Our opinion
There is nothing surprising in this news of modification of the price list nor in the manufacturing time of the models. GM has mastered the art of publicizing an idea and creating excitement, leaving consumers waiting afterwards. This is particularly the case of the Chevrolet Equinox EV, but also of the Chevrolet Blazer EV. Same story for the Cadillac Lyriq, few examples of which are available in Canada despite being launched more than a year ago in the United States.
GM appears to be facing a challenge of maximizing profitability, in a context where the development and manufacturing of electric vehicles is expensive. The balance between this issue and the affordability of models seems difficult to find in a changing industry. GM must be careful not to offend consumers who were initially attracted by an attractive price, but who would be left behind during the transaction.
