The $7,500 tax credit as it stands now will last until 200,000 units have been sold which includes Prius’ and Leaf's.
They may try to make it up in sales of other vehicles but from reports of the amount of loss that was reported around the first of the year per unit they'll have a rough time.
If they can't boost the sales numbers of Volts by a huge amount next year I believe it will be eliminated until they come up with better technology. I also believe the sales will not increase next year the amount needed to save it, it's just too expensive to compete with the other electrics right now.
I too believe Volt sales will continue to be low. Allegedly the plant was closed for a portion of June, to gear up for the 2012 offering in all 50 states...and I imagine there will be some initial buyers in each state, and the numbers will temporarily jump.
Unfortunately, I think GM will persist with this at least until Obama is gone. I project that the Volt program will last 5 years, and GM will finally pull the plug, after the public has had time to discover a) how crappy the batteries get over time, b) how terrible the re-sale value on these turkeys is (despite current projections....seriously, if a third of the car’s value is tied up in batteries, how can it hold its value equally when compared to a traditional car?).
I also think the offering in all 50 states is going to demonstrate some of its flaws very clearly. Any temperature extreme, or road slope extreme, and it doesn’t do very well.
Sadly, however, GM is playing with house money in alot of ways, and they will persist, IMHO...even if it means doing something as dumb as callng for increased gas taxes...which they have already done.