Buckwheat's "Green Energy" push is a joke. We will never get our money back on the bailout of GM. Romney is right. GM should have gone through a "Managed" Bankruptcy to have been made whole.
Yet they still keep "Kicking the can". :roll:
Yet they still keep "Kicking the can". :roll:
GM Should Shut Down Volt Production Until Car Makes A Profit
IBD | 09/11/2012
Reuters reports that General Motors "is still losing as much as $49,000 on each Volt it builds." This is no shocker, but it should be an alarm to voters who think this president deserves another term.
A little more than two weeks ago, the Obama administration released rules mandating a near-doubling of gas mileage standards for cars sold in the U.S. The mandate will not be met at no expense.
The industry can't magically build fleets that average 54.5 miles per gallon by 2025 without steep cost increases just because politicians and bureaucrats demand that it does.
If automakers are to comply with the more restrictive rules, they will have no choice but to build more electric cars, such as the Chevrolet Volt, a plug-in hybrid that gets 60 miles a gallon.
While that might satisfy the environmentalist lobby and most Democrats, it isn't practical.
If GM is losing nearly $50,000 on each Volt it makes, how much will all the carmakers be required to lose when Volt-like cars have to be the main models in their fleets in order to obey strict, new mileage standards?
Or, more appropriately, how much will taxpayers be forced to lose to subsidize the administration's unwise but politically correct fuel economy rules?
And cost isn't the only problem. The public doesn't like today's high-mileage "green" cars.
Yes, the Toyota Prius sells well. It's an easily identifiable car that's ideal for those who want to advertise that they've gone green and therefore are morally superior to the rest of us.
But other green cars don't sell so well. Reuters notes that "Nissan, Honda and Mitsubishi have been struggling to sell their electric and hybrid vehicles."
Put the Volt on that list.
(Excerpt) Read more at news.investors.com ...