Thursday, April 9, 2015

GM suspends Chevy Volt production as sales tank...

Obama's favorite car is turning out to be a huge white elephant for GM. 
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.

No comments: