SWOT Analysis of Chevy Bolt

Published: 2021-07-06 06:26:27
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Category: Business and Finance

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SWOT analysisStrengthsWeaknessesReasonably pricedFast accelerationSpacious cabinLonger rangeService centers are moreLack of cushions on the seatsThe car experience bumpy ride on un-tarmacked roadLack of built in navigationLow interior qualityStrengthsThe company has more than 19,000 dealerships distributed over 125 countries, an infrastructure that its competitor does not have. There is a long range of 238 miles which is twice that of its competitors. The battery is put under the floorboards to give room for the more spacious cabin. The car has fast acceleration like other cars. The car has a reasonable price of around 37,000 USD.WeaknessesThe interior is less attractive hence turning away potential customers. The touchscreen lacks built-in navigation thus the drivers use their phones for navigation. There is bumpy right on rough roads hence presenting a problem in rural America having bumpy roads. The seats lack cushions thus most people who want a car for a longer ride do not prefer purchasing the car.OpportunitiesThreatsAdvanced technologyChanging lifestylesElectric market expansionEco friendly carsReduce fuel price due to price fluctuationUnstable charging infrastructurecompetitorsOpportunitiesThere is a shift to products that are environmentally friendly which makes the market base for electric cars to increase. The electric market is expanding, and Bolt attracts more customers because of lower price and longer range. The company uses advanced technology which is constantly updated and above the competitors.ThreatsThe weak charging infrastructure reduces the trust that most potential customers have in the car. Most people are afraid of issues of charge during travel. The market has established competitors such as Tesla. The Tesla Model 3 offers a faster charge time and longer range. The prices of fuel continuously fluctuate thus when fuel price goes down, the interest in buying electric cars reduces.Positioning• The recent information shows that Chevy Bolt will be in the position of “expect more” value.• It allows the differentiation from the competitors because of the expected product’s features of more miles per charge, lower cost, shorter charge time and more value for the environment.• The marketing of Chevy Bolt will focus on proving to the customers that it is more than an average car because of its benefits such as giving customers value for their money, offering more miles per charge and being environmentally friendly.Readers’ notesThe customers are expecting more value from the Chevy bolt which makes it be above the competitors. The good expectation from the customers such as more value for money, lower cost of the product and shorter charge time increases the number of customers thus the company benefits through revenue from sales.

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