Dealers are giving big discounts on the Volt and selling them for 25% off sticker. They are moving closer to what they are actually worth. Another 25% discount should do it.
GM is losing thousands on the sale of every Volt. This is what happens when the government owns you – you have to make cars very few people want.
GM’s future electric vehicle development has been given to China. Our government claims that we are not giving them the technology which is probably true. Why would they want the technology for a car that goes on fire?
GM wants the government to sell their remaining stake of 26.5% in the company but they won’t because they’d lose too much before an election. GM feels the stigma of being “Government Motors” is holding them back. I’m sure it is. I won’t buy a government motors car!
GM never paid back the money they owed us. The portion they did pay off came out of another government fund – it was a shell game.
This past month they actually sold 2800 Volts which was a record but it was because of the discounts.
The huge demand (yes, I’m being facetious) has not renewed production which has been temporarily shut down.
The workers get 90% of their salary when production is shut down. GM must really not want to make Volts.
I think it’s reasonable to say that they are not flying off the lots.
Read more at the Washington Times