(Reuters) – General Motors Co sold a record number of Chevrolet Volt sedans in August — but that probably isn’t a good thing for the automaker’s bottom line.
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, according to estimates provided to Reuters by industry analysts and manufacturing experts.
Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. 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….
Breitbart has this update on Obama’s ambitious, tax payer funded, plan to put electric cars on the road:
In 2011, President Barack Obama set a goal of putting one million electric cars on American roads by 2015. Currently, there are just 30,000 electric cars on U.S. roads.
The abysmal numbers are even more surprising considering the government’s efforts to prop up “green car” manufacturing. Electric luxury car manufacturer Fisker, for example, was approved for a $529 million taxpayer-funded government loan; the federal government cut off the funds at $193 million after sales fell woefully short of required targets. The struggling electric car maker recently recalled 2,400 of its Karma vehicles when one caught fire due to problems with its cooling fan.
In June, a CBS News report calculated projected electric car sales by Mr. Obama’s 2015 date at 310,663. That figure, while still less than a third of Mr. Obama’s goal, may still be overly optimistic. Reuters says industry experts predict that less than 200,000 electric vehicles will be on U.S. roads by 2015.
Further exacerbating the challenge of meeting Mr. Obama’s goal is the fact that taxpayer-funded electric car battery companies continue to flounder. Last month, for example, struggling U.S. electric battery maker A123 Systems, which received a $249 million taxpayer-funded government loan, announced its plans to sell a controlling stake to Wanxiang, a Chinese company, for $450 million.
Similarly, lithium-ion battery manufacturer Ener1, Inc., which received a $118.5 million taxpayer-funded grant, filed for bankruptcy. And Aptera Motors has already folded.
“Here at this site, Solyndra expects to make enough solar panels each year to generate 500 megawatts of electricity. And over the lifetime of this expanded facility, that could be like replacing as many as eight coal-fired power plants.” ~ Barack Obama
From video description:
This is pretty lame. I wonder how many people think this power just comes out of the ground? Perhaps these greentards think this is magic solar power that is leached from the sun and stored in invisible floating Tesla flywheels. Bet that went right over most heads. Anyway this is a real problem for shoppers at WalGREENS. Weather they are asked or not they are subsidizing this climate hoax and paying for the fuel that is getting these FARCE-CARS from point “a” to point “b.”