Beginning March 13th, Government Motors will halt the production of Chevy Volts and the European Opel Ampera for five week – 1300 employees will be temporarily laid off.
The good news: Obama plans to buy a Volt when he leaves office. That’s another sale GM can count on in January 2012. GM spokesman Chris Lee said: “We’re going to build to market demand.” LOL Obviously should have thought about that earlier.
In January, the GM vice-chairman, Steve Girsky, said the company would wait until June to decide whether to cut back on production of the Volt if sales remained subdued.
Edmunds.com senior analyst Michelle Krebs had a more historical take on the car. “The Chevrolet Volt has had a very rocky go of it, from the very beginning of the launch when confusion emerged about what it was – an EV or a hybrid – to the latest episode with Volts catching fire after NHTSA testing,” he said.
“This period of high gas prices should have given sales of the Volt and other hybrids and electric cars a lift. Instead, there’s a wide selection of 30mpg and even 40mpg cars that don’t carry the hefty premium of vehicles like the Volt so the Volt, Nissan Leaf and others are up against stiff competition.”
The decision to cut Volt production is unlikely to dent GM’s overall US sales, which have been growing steadily since the firm emerged from bankruptcy in 2009. Source: The Guardian
GM still owes American taxpayers $25 BILLION in TARP Funds, so when Obama tells you they have paid back their debt to the people, he’s lying. While sales may be up, so are inventories at dealerships across the country. GM is up to their old tricks. How many thousands of shareholder lost everything they had with no chance of recovery? The answer is many. Their lives will never be the same. I can’t wait to see who GM donates to in this election cycle, and oh yes, they are back to donating.