GM losing as much as $49,000 per Volt sold

NBC News ^ | September 10, 2012

[presidio9]

General Motors 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.

[tumblindice]

“too big to fail”

http://ycharts.com/companies/TM/market_cap

Toyota: 129 billion

http://ycharts.com/companies/GM/enterprise_value

GM: 39 billion

I don’t know if the 39 billion figure include their debt—not just to the government but pension obligations owed to their retirees. I believe Apple is worth more than GM.

Generous Motors is basically a pension fund that turns out some cars that don’t sell very well.
Why should they worry—like the rest of us, excepting California—about failing if they know the rest of us will step in and bail them out ... again?

[Ryan_Rubio_2016]

the billions wasted on the volt coild of gone to much better use. GM should of brought back the Camaro generations of the late 70’s and 80’s. Just like what they did with bringing back the 69 camaro.There was a time in the 80’s when one of the most stolen vehicle was a 1984 Camaro.The 1985(and onward) IROC-Z was a badass car! If Chevy could bring back the 1984/85 and 79/80/81 Camaro back,they would MAKE A PROFIT! Instead they wasted Billions on the Volt! I have always wanted a new IROC-Z !!! and to think they were only a mere $15,000.00 in 1985.

[Slings and Arrows]

Please tell me you can photoshop the Dukakis tank helmet on this picture of Barry in a shiny new Volt

I have no photoshop skills whatsoever, but I know a few people who do.

[presidio9]

I have no photoshop skills whatsoever, but I know a few people who do.

Geeze, is there anything you ARE good at?

[grundle]

This is a huge “success” for Obama, who defines that word based on how much money the government spends.

[mylife]

NBC is reporting this?
Holy Cow!

[2ndDivisionVet]

Everything we do presently, whether it be welfare, food stamps, billion dollar bombers, 3 meals a day for “poor” kids in schools, six figure salaries for almost all bureaucrats above the entry-level, etc. are unsustainable. That includes the current level of ostentatious living for the president, vice president, cabinet, supreme court justices and congress. If you had an inkling of how they live you’d probably agree with me. We cannot go on like this. We can safeguard them without anywhere near our present spending. For instance, why does Michelle Obama need a high-paid staff of almost 30 people? Throughout history, most first ladies had NONE at all. Jackie Kennedy paid her social secretary out of her own pocket, IIRC. Mr. Lincoln ran the entire Civil War with two clerks, also paid for by him. Did Nancy Pelosi need better transport than President Reagan had?

[garjog]

" GM is still losing as much as $49,000 on each Volt it build"

But at least the planet is being saved.

[BipolarBob]

Bankrupting America one subsidy at a time.

[presidio9]

We can safeguard them without anywhere near our present spending. For instance, why does Michelle Obama need a high-paid staff of almost 30 people? Throughout history, most first ladies had NONE at all. Jackie Kennedy paid her social secretary out of her own pocket, IIRC. Mr. Lincoln ran the entire Civil War with two clerks, also paid for by him. Did Nancy Pelosi need better transport than President Reagan had?

You are making zero sense here. Zero.

Mrs. Obama's "staff" is not her security detail, President Licoln WAS assassinated, and Nancy Pelosi does not work in the White House. If you have a point to make, you'll have to try a bit harder than that.

[Rembrandt]

This is an NBC story. There are also probably other reasons to disregard the story.

[MarkL]

They’re losing $49,000 on every volt sold, but they’re making it up in volume...

Mark

[Hotlanta Mike]

The Democrats’ GM Fiction

http://www.nationalreview.com/articles/316379/democrats-gm-fiction-editors#

[presidio9]

RTFT

Fourth time I heard that joke today, and it’s still feaking hilarious.

[musicman]

[MarkL]

Yep. They're losing $49K on one car, but multiply that by 100,000 and you get...PROFIT!

When the government and UAW broke the law and stole GM from the bond holders, not only did they get rid of the CEO, they got rid of the entire accounting department, and replaced them with the Underpants Gnomes!

Mark

[mylife]

The comments at the Original article are dispiriting.

This country has lost it’s collective mind.

[presidio9]

[GeronL]

Your right Ford and Nissan are better options.

what is a CODA?

[MarkL]

The “Volt,” is a government product, with no economic goal in mind.

It is a perfect example of "central planning," one of the core tenets of both socialism and communism.

It means you have people who don't have the faintest idea of what they're doing designing products and implementing production levels of those products without taking into consideration what the consumer wants or needs, i.e. ignoring the idea of markets. They believe they know what the wants and needs of the public are. More to the point, they have a specific goal in mind before they begin, and then build the product to meet the goal, markets be damned.

Mark