Leroy N. Soetoro
2012-09-12 07:53:29 UTC
The bottom line: They're losing money on every single vehicle and lying
about it.
http://content.usatoday.com/communities/driveon/post/2012/09/10/chevrolet-
volt/70000080/1#.UE53ybJlSIw
General Motors is dismissing a media report describing the Chevrolet Volt,
it's extended-range electric car, as a major money loser. Those reports,
the automakers says in a statement, are "grossly wrong."
Reuters estimates that GM is losing as much as $49,000 on every Volt.
That's $10,000 more than the extended-range electric car's sales price.
But the automaker said the wire service's calculations ignored that
development costs are typically spread out among all vehicles sold over
the course of the model's lifetime.
GM has acknowledged it's losing money on the Volt, but won't say how much.
But GM argued that its investment will pay off over time as Volt sales
accelerate and the cost of the extended-range electric/generator
powertrain comes down and is offered in other models over time.
The car, which can travel up to 38 miles on a battery charge before a
gasoline-powered generator kicks in, has missed GM's original sales
targets for 2012. It sells for $39,995 as its base price. Sales are
picking up after some dealers started offering a cheap lease, California
certified that single drivers can drive the Volt in carpool lanes.
Chevrolet sold 2,831 Volts last month, its strongest month since its
launch.
Reuters wrote that "the loss per vehicle will shrink as more are built and
sold."
"Every investment in technology that GM makes is designed to have a payoff
for our customers, to meet future regulatory requirements and add to the
bottom line," GM said in a statement. "The Volt is no different, even if
it takes longer to become profitable."
It's the latest in a series of publicity challenges for the Volt, which
conservatives have criticized as the Obama-mobile, despite the fact that
it was in the works years before Barack Obama considered running for the
White House. The car was first introduced as a concept vehicle in January
2007, two years before Obama took office, and was first sold in fall 2010.
Sales of gasoline-electric hybrids that don't need to be recharged have
risen 65% this year through August to 278,680, led by Toyota's family of
Prius models, which accounted for 57% of that market segment.
--
Obama's black racist USAG appointee.
Eric Holder, racist black United States Attorney General drops voter
intimidation charges against the Black Panthers, "You are about to be
ruled by the black man, cracker!"
Eric Holder, prejudiced black United States Attorney General settles the
hate crime debate, "Whites Not Protected by Hate Crime Laws."
Nancy Pelosi, Democrat criminal, accessory before and after the fact, to
former House Ways and Means Committee Chairman Charles B. Rangel of New
York's million dollar tax evasion.
Barack Obama and Eric Holder, committed treason by knowingly and
deliberately arming enemies of the United States of America through
Operation Fast and Furious. Complicit in the murder of Federal employees
during the execution of their duties.
--- Posted via news://freenews.netfront.net/ - Complaints to ***@netfront.net ---
about it.
http://content.usatoday.com/communities/driveon/post/2012/09/10/chevrolet-
volt/70000080/1#.UE53ybJlSIw
General Motors is dismissing a media report describing the Chevrolet Volt,
it's extended-range electric car, as a major money loser. Those reports,
the automakers says in a statement, are "grossly wrong."
Reuters estimates that GM is losing as much as $49,000 on every Volt.
That's $10,000 more than the extended-range electric car's sales price.
But the automaker said the wire service's calculations ignored that
development costs are typically spread out among all vehicles sold over
the course of the model's lifetime.
GM has acknowledged it's losing money on the Volt, but won't say how much.
But GM argued that its investment will pay off over time as Volt sales
accelerate and the cost of the extended-range electric/generator
powertrain comes down and is offered in other models over time.
The car, which can travel up to 38 miles on a battery charge before a
gasoline-powered generator kicks in, has missed GM's original sales
targets for 2012. It sells for $39,995 as its base price. Sales are
picking up after some dealers started offering a cheap lease, California
certified that single drivers can drive the Volt in carpool lanes.
Chevrolet sold 2,831 Volts last month, its strongest month since its
launch.
Reuters wrote that "the loss per vehicle will shrink as more are built and
sold."
"Every investment in technology that GM makes is designed to have a payoff
for our customers, to meet future regulatory requirements and add to the
bottom line," GM said in a statement. "The Volt is no different, even if
it takes longer to become profitable."
It's the latest in a series of publicity challenges for the Volt, which
conservatives have criticized as the Obama-mobile, despite the fact that
it was in the works years before Barack Obama considered running for the
White House. The car was first introduced as a concept vehicle in January
2007, two years before Obama took office, and was first sold in fall 2010.
Sales of gasoline-electric hybrids that don't need to be recharged have
risen 65% this year through August to 278,680, led by Toyota's family of
Prius models, which accounted for 57% of that market segment.
--
Obama's black racist USAG appointee.
Eric Holder, racist black United States Attorney General drops voter
intimidation charges against the Black Panthers, "You are about to be
ruled by the black man, cracker!"
Eric Holder, prejudiced black United States Attorney General settles the
hate crime debate, "Whites Not Protected by Hate Crime Laws."
Nancy Pelosi, Democrat criminal, accessory before and after the fact, to
former House Ways and Means Committee Chairman Charles B. Rangel of New
York's million dollar tax evasion.
Barack Obama and Eric Holder, committed treason by knowingly and
deliberately arming enemies of the United States of America through
Operation Fast and Furious. Complicit in the murder of Federal employees
during the execution of their duties.
--- Posted via news://freenews.netfront.net/ - Complaints to ***@netfront.net ---