Chevrolet Offers Bolt Owners Money If They Waive the Right to Sue
With the Chevrolet Bolt gradually losing its competitive edge as more all-electric vehicles take the field, and the car on the hook for a high-profile recall relating to battery fires, General Motors opted to reduce its price by six grand this year in a bid to make the 2023 model year more appetizing to consumers. Prior to the Biden administration pushing to renew EV tax credits as part of the "Inflation Reduction Act of 2022" (basically a tweaked version of Build Back Better), GM had little hope of its vehicles benefiting from continued government incentives that it had already exceeded its sales quota for and needed a remedy. However the sudden price cut didn't sit well with customers who had just purchased a Bolt EV (or EUV) at the earlier price point, so the automaker attempted to cut them a semi-Faustian bargain.
Introduced in July, the assumption was that GM would offer simple cash rebates to last year's customers as a way to say it was sorry. But Bolt owners have started leaking to the press that the deal also includes a contract where beneficiaries would have to waive their right to sue General Motors (or any other involved company) in the event that the Bolt catches fire.
According to Jalopnik, those attempting to take advantage of the offer found themselves confronting a step in the process where they had to submit their Vehicle Identification Number (VIN) and were then required to agree to "forever waive and release all claims, damages, or causes of action" before continuing. So, if the car experiences a bout of thermal runaway and burns down your garage or some other catastrophic issue takes place, GM is legally protected.
"By nonetheless agreeing to this Release, I — both on my own behalf and on behalf of my heirs, agents, servants, beneficiaries, legal representatives, assigns, wards, executors, successors, and administrators — forever waive and release all claims, damages, or causes of action, either known or unknown, regardless of the legal or equitable theory, that I may have now or in the future arising out of or in any way relating to my Bolt vehicle(s), the battery defect, or the battery recalls, and including any claims or rights that I may have in connection with the class action, including any right to participate as a class member," explains the texts. "This release is in favor of and includes General Motors Company, General Motors LLC, General Motors Holdings LLC, LG Chem, Ltd., LG Energy Solution, Ltd., LG Energy Solution Michigan Inc., LG Electronics, Inc., and LG Electronics USA, Inc. as well as all of their respective officers, directors, agents, employees, servants, subsidiaries, affiliated companies, subsidiaries, parent companies, insurers, authorized dealers, suppliers, divisions, predecessors, successors, heirs, and assigns."
Jalopnik has a transcript of the entire agreement if you're interested, but the above basically tells you everything you need to know. Buy taking GM's money now, you're effectively making it and the battery supplier exempt from any legal action you might take later. That'd be a little more palatable if the automaker hadn't framed this in a way to appease owners that felt a little hoodwinked after Bolt prices came down by $6,000.
GM has extended the "deal" to vehicles from the 2020-2022 model years that were purchased last year. Leased models are not eligible and there appear to be some restrictions regarding trim levels, based on leaked dealer memos.
[Image: Tricky_Shark/Shutterstock]
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A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.
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We saved a company that cannot save itself!
16 out of 140,000 referred to the specific incidence of Bolt fires. Thanks for simplifying the math for people who aren't as smart as you think you are. And if you don't own one why do you care?