The Obamamobile loses $49K per vehicle, yet another example how Obama just does not get it.
Take a good look at what Barack Obama touts as the future of car travel. General Motors Chevy Volt loses on average $49,000 per every Volt that they build. WOW, there’s a business plan, create a product that cost nearly $50K more than what you get back in return. What fool thinks this stuff up? No wonder as Weasel Zippers states, the Chevy Volt, the official car of the Obama administration. As the Lonely Conservative opines, Obama has been talking up the takeover of SM as one of his signature achievements. Imagine that, Obama praising a company that loses $49,000 per vehicle. This sounds much like his stimulus plan. Obama and the Chevy Volt, perfect together.
General Motors Co sold a record number of Chevrolet Volt sedans in August — but that probably isn’t a good thing for the automaker’s bottom line.
Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. GM on Monday issued a statement disputing the estimates.
Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.
And while the loss per vehicle will shrink as more are built and sold, GM is still years away from making money on the Volt, which will soon face new competitors from Ford, Honda and others.
GM’s basic problem is that “the Volt is over-engineered and over-priced,” said Dennis Virag, president of the Michigan-based Automotive Consulting Group.
GM Pulls Plug on Volt and Suspends Production, Lays off 1300 Workers … Just Days Earlier Obama Just Praised Volt
GM pulls the plug on the Chevy Volt and lays off 1300 workers … Welcome to Obama Motors.
More bad news for the Barack Obama endorsed Volt. All Obama’s horses and all Obama’s stimulus money cannot save the failed sales if the Volt. General Motors announced that the company was suspending production of the Chevy Volt and 1,300 workers would be laid off. After all, should the American tax payers have paid more than $10,000 subsidies per vehicle?
Fool Moment of the Week: Obama praises Volt … days before GM lays off workers and suspends Volt production
General Motors has told 1,300 employees at its Detroit Hamtramck that they will be temporarily laid off for five weeks as the company halts production of the Chevrolet Volt and its European counterpart, the Opel Ampera.
“Even with sales up in February over January, we are still seeking to align our production with demand,” said GM spokesman Chris Lee.
Lee said employees were told Thursday that production would put on hold from March 19 to April 23.
How comical, President Barack Obama just endorsed GM’s (Government Motors) struggling Chevrolet Volt, saying he plans to buy the extended-range electric vehicle upon leaving office in five years. With ignorant, mistimed and clueless comments like this, Obama just might be buying a Volt in one year. Once again we are witness to the Barack Obama kiss of death. Yet another failed green company/product courtesy of Obama.
“Five years from now when I’m not president anymore, I’ll buy one and drive it myself,” Obama said to applause during a speech Tuesday to 1,600 workers and retirees from the United Auto Workers union. “Yes, that’s right.”
Recalling that event, Obama forgot he had actually driven the Volt, saying that the “Secret Service wouldn’t let me drive it. But I liked sitting in it. It was nice.I’ll bet it drives real good.”
GM had hoped to sell 45,000 Chevy Volts in America this year,; however, according to reports they had only sold about 1,626 over the first two months of 2012. A whopping 603 Volts in January 2012. Maybe GM and Obama can still market the Volt to aliens.
But of course the lagging Volt sales have nothing to do with the fact that there is little to no interest in electric cars, Michelle Malkin.com has the real culprit who is to blame. GM of course blames the media. Really?
GM, Government Motors sold just 603 GM Volts in January. Are you serious? The pathetic 603 sales as caused GM to abandoned its sales target of 45,000 for 2012. YA THINK!!! GM might also want to fire the idiot who ever thought that 45K was even a viable target. As it is, GM only sold about 7,700 in 2011, far below it’s target of 10,000. What else would we expect from an Obama bailed out “green” car program?
General Motors extended-range electric Chevrolet Volt had its worst sales month since August, as negative publicity over fire risks hurt vehicles sales in January.
GM sold just 603 Volts – above its sales in January 2011, but far below GM’s best-ever sales month in December, when GM sold 1,529 Volts.
Last week, GM North America President Mark Reuss said sales of the Volt have been hurt by bad publicity.
Reuss said bad publicity from the government’s investigation into fire risks of post-crash Volts is “definitely a component” of the decline in sales.
Bad PR? Seriously? That tends to happen when cars catch on fire and you recall them. Let’s face it, there is no demand for this pricey car.
More from Powerline on the “Revolting” Volt. Nice.
Its not easy being green, especially when it catches on fire. Yet another resounding failure of the Barack Obama, government owned, green agenda … GM is buying back Chevrolet Volts. What else could we expect from an Obama endorsed product?
General Motors will buy Chevrolet Volts back from any owner who is afraid the electric cars will catch fire, the company’s CEO said Thursday.
In an exclusive interview with The Associated Press, CEO Dan Akerson insisted that the cars are safe, but said the company will purchase the Volts because it wants to keep customers happy. Three fires have broken out in Volts after side-impact crash tests done by the federal government.
Akerson said that if necessary, GM will recall the more than 6,000 Volts now on the road in the U.S. and repair them once the company and federal safety regulators figure out what caused the fires.
If its not bad enough that the Government had to bail out GM, now we are bailing out Volt owners who made the choice to buy these cars.