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Offline Cincinnatus

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« on: April 03, 2013, 03:03:44 PM »
Despite government and Obama cronies like GE purchases, Obama's pet white elephant has come to naught. No surprise there, of course, but the taxpayer's get stuck with the bill and Obama will suffer no negative consequences. In fact this story will probably not even receive much attention outside the business pages and in automotive circles.

The Chevy Volt has inarguably been the poster child for President Obama's push to electrify America's auto fleet. Billions of taxpayer dollars have been spent to produce and subsidize the plug-in electric car. For years we have heard about the supposedly amazing technology for the Volt which would lead America to energy independence, be a "game-changer" for General Motors and provide a multitude of new green jobs. Proclamations were made that supply for the wonder-car could not keep up with the demand. Well, March's sales figures are in and give further confirmation that the lofty claims were all lies.
 
March's sales for the Chevy Volt plunged over 35% from last year to a paltry 1,478 units. To put that in perspective, that's about one Volt sold every two months per dealership. The number is also down from an only slightly less paltry 1,626 sales in February. GM's excuses for the poor performance seem to be drying up as quickly as the demand for the Volt. During GM's sales conference call, management claimed that sales are "stable" and that they are "feeling good about the trend." Such dishonesty brings into question GM's credibility.
 
In the past, GM claimed that lack of supply was the reason for low Volt sales. In addition, GM indignantly blamed a Republican conspiracy to hurt Volt sales as a contributing factor to the dismal sales figures for the car. Regarding supply, a recent search on cars.com showed that 6,804 new Chevy Volts are available nationwide. That's about a five months supply! The problem is obviously a lack of demand as GM produced 2,722 Volts in March; over a thousand more than needed.
 
GM and the Obama Administration have done what they can to prop up sales of the Volt and give the false appearance of success. Lease terms were manipulated to manufacture demand, as GM even admitted. Crony Corporation General Electric (supplier of charging stations) agreed to purchase 15,000 of the vehicles. Localities, and even the military, used taxpayer dollars to purchase Volts. And worst of all, wealthy buyers of the Volt receive a federal tax credit of $7,500 each to purchase (or lease) the vehicles.
 
So, now we have one more indicator that the Chevy Volt hype has all been a farce. Yet there is still no admission nor is there any accountability for the hoax that cost taxpayers billions of dollars.

http://nlpc.org/stories/2013/04/03/chevy-volt-sales-plunge-%E2%80%93-obama%E2%80%99s-flagship-ev-failure
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams

Offline Rapunzel

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« Reply #1 on: April 03, 2013, 03:07:20 PM »
The Volt only sold because of all the subsidies that went with them. My friends in CA's son bought one. Nice looking car, but I know one of the reasons he bought it was all the kick-backs he received. 

So Volt is tanking, Fisker going BK......... and Obama keeps pushing the same old same old

Offline truth_seeker

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« Reply #2 on: April 03, 2013, 03:21:18 PM »
Prices are too high. Range on electric only too short.

So what you are left with is another hybrid option, and there are plenty of those far less expensive, yet with a record of sales and reliability.

In other words, a Volt competes with various versions of the Prius by Toyota, and comes up wanting.

GM has become very much a market follower, not leader. Toyota invested big money and a long time, selling hybrids at market prices.

GM thought with government help, they'd come into a mature market and peel off the premium price layer.

But my guess is that Toyota's own Lexus brand has earned that status, not GM.
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline Cincinnatus

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« Reply #3 on: April 03, 2013, 03:28:37 PM »
Your analysis may be spot on but the problem is not the failure of the Volt to sell but that the taxpayers are taking it on the chin (again) because it doesn't sell.

This was one of Obama's rewards to the UAW for their support plus his showcase, his automotive Solyndra, for green energy in auto production. Unfortunately this was on the taxpayer's dime, not his.

I couldn't care less about GM's fortunes but I do care, and very much, about how our taxes are spent so that Obama can feel he's doing good and, of course, reward his friends.
We shall never be abandoned by Heaven while we act worthy of its aid ~~ Samuel Adams

Offline truth_seeker

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« Reply #4 on: April 03, 2013, 04:35:20 PM »
Your analysis may be spot on but the problem is not the failure of the Volt to sell but that the taxpayers are taking it on the chin (again) because it doesn't sell.

This was one of Obama's rewards to the UAW for their support plus his showcase, his automotive Solyndra, for green energy in auto production. Unfortunately this was on the taxpayer's dime, not his.

I couldn't care less about GM's fortunes but I do care, and very much, about how our taxes are spent so that Obama can feel he's doing good and, of course, reward his friends.
What is done, is done. GM got subsidized. Defense contractors get subsidized. The FedGov has subsidized various businesses, much like a big venture capital firm, or a research and development effort.

So I'm not writing about it in terms of do I approve, or not. I'm writing about it in terms of the likelihood the citizen-investors stand to get something useful in the long run. I'm writing as a car enthusiast, and viewing market acceptance.

Here is some interesting information about the world of electric vehicles. Both electric only and electric plus gasoline. The Chevy Volt is just one of many.

You'll note Ford is betting on the viability of Plug-in as is Honda, Toyota, etc.
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline Rapunzel

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« Reply #5 on: April 03, 2013, 04:48:14 PM »
IMO the only truly viable way to go is natural gas.  That they are pushing electric at the same time they are shutting down coal in this country (coal powers most of our electric grid) is insanity - especially when natural gas is clean and plentiful.


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