November 16, 2016 - By Ruchi Gupta · 0 Comments
General Motors Company (NYSE:GM) 2017 Chevy Bolt beats Tesla Motors Inc (NASDAQ:TSLA) Tesla Model S after Motor Trend had named it Car of the Year ahead of the Los Angeles (LA) Auto Show.
For a vehicle to win the coveted title, Motor Trend provides that it must be all-new. If it is part of an existing lineup, it must be completely overhauled with interesting features.
The 2017 Chevy Bolt beats Tesla Model S because it had showcased a powerful performance during the tests conducted by Motor Trend to select the winner. Fully charged, the electric vehicle (EV) was able to complete a 238-mile range.
Not only had its superior capabilities led the 2017 Chevy Bolt to claim the title but also its cost-efficient price tag of $29,995. It costs more than 50% cheaper than the base version of the Tesla Model S, which only boasts with a 210-mile range. However, the 2017 Chevy Bolt only has an output of 200 hp and a torque of 266 lb.-ft. while the Tesla Model S has an output of 315 hp and a torque of 325 lb.-ft.
According to Chris Theodore, one of Motor Trend’s guest judges, customers can also get the 2017 Chevy Bolt, which prides with far better handling and range, for just half the price of Bayerische Motoren Werke AG (ETR:BMW) (BMW) i3.
“Chevrolet has made affordable long-range electric transportation available to the masses,” elaborated Mark Rechtin, Motor Trend Executive Editor.
Being hailed as the Car of the Year by Motor Trend is an important feat for any carmaker. Because of the magazine’s influence in the automotive industry and its growing subscription base, the recognition automatically puts the 2017 Chevy Bolt in the forefront. It is likely that many customers will be lured to buy the 2017 Chevy Bolt, especially with a reasonable price tag attached to it.
As the 2017 Chevy Bolt beats Tesla Model S, Elon Musk, Tesla Motors CEO, has nonetheless been named as Person of the Year.
On Tuesday, GM has gained 0.45%, closing at $33.43; and Tesla Motors has surged 1.28%, closing at $183.77.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.
By Ruchi Gupta