You need to create migration first, something like mix ecto.gen.migration cars_add_sold_column
This will generate a migration file, in which you need to adjust the change function to your needs. It should contain something like add :sold, :boolean, default: true
You cannot set default values directly from the CLI. You can find detailed documentation on the available options here: mix phx.gen.schema — Phoenix v1.6.5
Generally the CLI is not meant to be a tool to generate all the code you might possibly need, but only to create common boilerplate according matching the structure phoenix guides explain. There will always be modifications left to do by hand after using the generators. I even think they loose their usefulness completely when a project grows as strict structure gets harder to maintain.