Watching Phil LeBlow providing Ford with a reacharound this morning reminded us of total farce that is both the forest and the trees of the US auto industry. We have discussed the FUBAR channel-stuffing and the subprime-lending SNAFU but now, as Reuters reports, we see the ugly truth about GM's little baby "the Volt is over-engineered and over-priced". 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.
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Furthermore, 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.
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4 comments:
Let me see now , I think it should say "the government or We People" lose $49,000 on every Volt since the government owns them.
So, then, therefore, every Malibu, Impala, or whatever must be priced at a rate to make up the difference in order to make a profit. So, when I elect not to buy a Volt, I am buying one anyway. Maybe that's why GM stock is in the tank, and I, as a taxpayer bailout "volunteer" is holding this bag of $h!t.
Good! You couldn't give me one.
GM = Government Motors
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