Posted on 03/06/2012 6:13:46 AM PST by SeekAndFind
President Obama boasted at a United Auto Workers conference last week that General Motors was back in business, producing cutting-edge vehicles like the plug-in electric Chevrolet Volt. He even promised to buy one when his time in office ends “five years from now.”
Whoops! Just three days later, GM announced that it would suspend Volt production for five weeks this spring, idling 1,300 workers at a Hamtramck, Mich., factory.
Alas, Obama’s endorsements notwithstanding, there’s not much of a market for this little bitty car, at least not at the price of almost $32,000 — after a $7,500 federal tax rebate.
GM fell 2,300 units short of its sales target (10,000) for 2011. It is not on pace to hit 2012’s goal of 45,000 units.
So much for Obama’s goal of 1 million all-electrics and plug-ins on the road by
A123 Systems, a maker of electric-car batteries that has received $374 million in state and federal loans, announced 125 layoffs last fall. The cause: problems at its main customer, Fisker Automotive, which builds expensive plug-in electric cars. Fisker got a half-billion in loans from the Energy Department, though the money was recently frozen because of the company’s failure to meet production targets.
These events confirm the wasteful folly of allocating capital according to the dictates of politicians, such as when Sen. Charles Schumer (D-N.Y.) declared in November 2008: “A business model based on gas — a gas-guzzling past — is unacceptable. We need a business model based on cars of the future, and we already know what that future is: the plug-in hybrid electric car.”
The electric vehicle flop also illuminates a point about science — or the politics of science.
(Excerpt) Read more at washingtonpost.com ...
The Union “workers” can live off their bonus checks, courtesy of the U.S. Taxpayer, and GM’s “announced” profits did not include a return of taxpayer money.
I have the answer for the Volt. Gull wing doors.
GM... just make the check out to “Cash”. You’re welcome.
In terms of styling alone, the car is a dud. They should have had ItalDesign work on it.
Ping.
And in other news:
http://www.greencarreports.com/news/1072600_indiana-think-electric-car-plant-stilled-owners-quiet-on-future
Ever heard of the “Think”, made in Elkhart IN? Pure electric car. On hold...
Liberals hate your freedom...freedom of the marketplace, freedom of choice, freedom to inform them that their ideas are mostly insane.
This quote was put in the article almost as an after thought. This is one of the biggest reason why you shouldn't buy one. Forget 5 years, try 3 years. Just wait until you see how little your $39,500 trade in is worth. You will be STUCK with it. Who would buy a USED volt? Nobody is buying the new ones.
Heretofore known as the Obamamobile.
I think electric will catch on and become very cheap.
I say that in the vein of a guy in the mid 19th century who sees an oil well and says, “I think we can power carriages with that stuff instead of horses some day.”
As with that 19th century man, “some day” is a ways off though...
They'll be lucky to sell it for scrap - then be left with ziltch after paying to dispose of the battery!
Gov't Motors vs Capitalism
I believe the 2012 target for the Volt is 25,000 not 45,000. Also keep an eye on the Mitsubishi EV that will be out by this fall. It’s base sticker price is below $22,000 and it gets 112MGPe. It only goes 64 miles on a charge and looks like a child’s toy, but for some urban drivers it may fill a niche.
RE: I believe the 2012 target for the Volt is 25,000 not 45,000
Well, it’s 2012 now. What’s the sticker price today?
Owning a the Volt is like owning a Edsel with chrome wheels.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
