This was a modest goal as 1 million cars is less than 1% of the 150 million automotive vehicles American own.
And he could not do that. After spending $50 billion to buy GM, and billions in subsidies, President Obama faces the embarrassment of GM suspending production of Chevy Volts for four weeks because only 1,784 were sold in the first three months of 2015.
That is 1/10,000th of the estimated 17.1 million cars and trucks that consumers are expected to buy this year.
Chevy Volt has cornered 0.0001% of the market. Put another way, 99.99% of the cars and trucks purchased in the United States are not Chevy Volts.
From the Associated Press:
General Motors will stop making the Chevrolet Volt for four weeks in June and July due to slow sales and to deal with the change to an all-new version of the gas-electric hybrid car.
The company says the Detroit-Hamtramck plant that makes the Volt and four other cars will probably stay open through the summer despite plans for the Volt. The factory also is undergoing construction so it can build a new full-size Cadillac CT6 and the 2016 Volt starting late in the summer.
Sales of electric and hybrid cars have slowed this year, largely due to low gasoline prices. The national average for a gallon of regular gas was about $2.40 US on Thursday, 35 per cent lower than last year's peak of $3.70.
The cheap gas has really hurt Volt sales and caused inventory to build on dealer lots. Through March, GM sold only 1,874 Volts, down 48 per cent from a year ago. The company now has enough Volts to supply dealers for 210 days, according to Ward's Automotive. A 60-day supply is optimal.Where have I heard that before?
In 2012, Awr Hawkins wrote:
GM loses up to $49,000 on every Volt it builds; it has sold only 13,500 Volts this year, 33.75% of its 40,000 goal; and the assembly plant that makes Volts will be closed for four weeks beginning September 17 due to low sales.
GM’s initial investment in the Volt was over $1 billion, and since its release, the company has spent even more trying to re-engineer the vehicle for a flaw which has led to it catching fire when charging overnight.That turned out to be the heyday of the Chevy Volt as sales are 48% below their level a year ago.
This begs the question, if no one wants these beasts, why is the federal government blowing billions building them, especially when they catch fire like that?
Say what you want about the Ford Pinto, but it was a good car that held its own for 10 years from 1971 to 1980 without bumming billions of dollars from taxpayers. In fact, Ford sold more than 3 million Pintos in a 10-year period.
The billions blown on Obama's wacky "green" ideas would have better used to pay down the national debt, which continues to consume future tax revenues. We need a constitutional amendment to ban all corporate subsidies. We need to prevent another incompetent from doing this to us again.