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.