SWOT Analysis Of Chevy Bolt

SWOT Analysis

Strengths

The company has more than 19,000 dealerships distributed over 125 countries, an infrastructure that its competitor does not have. It has 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.

Weaknesses

The interior is less attractive, hence causing potential customers to turn away. 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.

Opportunities

There is a shift to products that are environmentally friendly, which increases the market base for electric cars. The electric market is expanding, and Bolt attracts more customers because of lower prices and longer ranges. The company uses advanced technology that is constantly updated and above its competitors.

Threats

The 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 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’ Notes

Customers expect more value from Chevy Bolt, which puts it above its competitors. Good expectations from the customers, such as more value for money, lower cost of the product, shorter charge time, and increased number of customers, will benefit the company through revenue from sales.