The Bolt is Back, Confidence Rising

Show Notes with links:

• After announcing that the Chevy Bolt would be discontinued back in April, General Motors has surprised the industry with plans for a next-generation Bolt. The new model will utilize GM's Ultium battery platform, heralding a promising future for the company's electric vehicle line-up.
• Yesterday, CEO, Mary Barra touted the success of the Bolt saying, "Our customers love today's Bolt. It has been delivering record sales and some of the highest customer satisfaction and loyalty scores in the industry. It's also an important source of conquest sales for the company and for Chevrolet.
• She also announced that the new Bolt would be produced on an accelerated timeline and that the speed and financial efficiency of producing a new Bolt as opposed to and all-new program would be great
• This is a very capital-efficient, quick way to build on the strong consumer response we have to the Bolt and get an affordable vehicle out into the marketplace," Barra said. "Frankly, I'm super excited about it.

• A job market that is continuing to stay strong and slowing inflation are contributing to the highest consumer confidence in over 2 years.
• The Conference Board's Consumer Confidence Index for July hit 117, the highest level in two years, according to new data released Tuesday morning.
• Just 9.7% of the respondents to the Conference Board's survey said jobs were 'hard to get,' lower than 12.6% in June.
• "The data today continue to show that the Fed's job is very tough," Jefferies US economist Thomas Simons wrote Tuesday. He added, "There are storm clouds on the horizon, but until the consumer sees a material decline in labor market conditions it seems that they are going to remain optimistic."

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