Volt Losing Money for GM

I previous wrote about the problems with the Volt car produced by General Motors. A report just released by a private firm states that it cost the company $89,000 to make the car but they sell it for slightly under $40,000. That is a loss of $49,000 per car.

The Volt car has to be placed in the Obama Hall of Fame of bad investments and wasted taxpayers’ money. Yet GM projects that the Volt will turn a profit in three years. Hmmm, will the car be around in three years?

Any rational person would challenge and question taxpayers’ money being spent on a losing project. Yet the Obama Administration defends its bad economic investment in the Volt like they defended the Solyndra investment.

To continue to produce a car that doesn’t sell well and cost more than it sells for is just bad business. This is partly why the nation is heading for a financial cliff.


About camden41

Retired public school administrator Retired history professor: Taught Western Civilization, American Civil War, United States History, Economic History, Ancient & Medieval Foundations, American History Since 1945
This entry was posted in Uncategorized and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s