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Thursday, January 05, 2012
General Motors: Worst Car Stock of 2011; Chevy Volt a ‘Worst Product Flop of 2011′
“And GM and its Obama Administration-Democrat backers ludicrously tell We the Shareholders that all of this failure is a‘success.’
“Well, GM was last year the worst car stock of all – and the Chevy Volt was an award-winning flop.; So the market ain’t buying it. And neither are We the People.”
-------------- Seton Motley is the President of Less Government and he contributes to numerous sites and blogs.
ARRA News Service Editor: Here’s an idea: let’s keep the government – and above the crappy administration – out of the business of picking winners and losers in the private sector. Tags: bailout, bailouts, Big Labor, Congress, crony capitalism, crony socialism, Economics, energy, Environment, Federal Spending, General Motors, Chevy Volt, government motors, stock, Healthcare, News, Obama, Regulation, TARP, Technology, unemployment, Unions, Seton Motley, Less GovernmentTo share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
From Yahoo! Finance’s list of the ‘Worst Product Flops of 2011” [Emphasis mine]: . . .
3. Volt Company: General Motors
GM (GM) was originally so excited about the Volt that the company had announced in January it was speeding up its roll-out by six months. But by November the excitement had fizzled out. Larry Nitz, GM’s executive director for vehicle electrification told Reuters, “It’s naive to think that the world is going to switch tomorrow to EVs [electric vehicles].” Indeed, sales for the vehicle have been consistently low. Only 125 models were sold in July 2011. This was after GM spokeswoman Michelle Bunker was quoted as saying that the Volt was “virtually sold out” due to its popularity — a statement later shown to be misguided. Adding insult to injury, Chevy Volts are under investigation for fires involving the cars’ lithium-ion batteries. For concerned Volt owners, GM has offered free loaner cars.
How are the mighty fallen. Remember the rosy predictions back when the Obama administration was pouring millions of taxpayer dollars into developing the Volt? It was going to be the car that would change the world
General Motors Co. is touting the 230 mpg figure following early tests that used draft guidelines from the Environmental Protection Agency for calculating the mileage of extended-range electric vehicles.
The EPA guidelines, developed with help from automakers, figure that cars such as the Volt will travel more on straight electricity in the city than on the highway. If drivers operate the Volt for less than 40 miles, in theory they could do so without using a drop of gasoline.
Well THAT didn’t happen. So, to summarize, not only did the Chevy volt fall far below fuel economy predictions and sales projections, the car also catches on fire.
What would anyone expect? It is, after all, Government-Motors now. It even operates and performs the same as.......LOL.....I've been a Ford man ever since BooBoo and the Unions became majority stock-holders.
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3 Comments:
You’d think that $230,000 in taxpayer funds per car would at least buy us a decent vehicle . . .
From Yahoo! Finance’s list of the ‘Worst Product Flops of 2011” [Emphasis mine]: . . .
3. Volt
Company: General Motors
GM (GM) was originally so excited about the Volt that the company had announced in January it was speeding up its roll-out by six months. But by November the excitement had fizzled out. Larry Nitz, GM’s executive director for vehicle electrification told Reuters, “It’s naive to think that the world is going to switch tomorrow to EVs [electric vehicles].” Indeed, sales for the vehicle have been consistently low. Only 125 models were sold in July 2011. This was after GM spokeswoman Michelle Bunker was quoted as saying that the Volt was “virtually sold out” due to its popularity — a statement later shown to be misguided. Adding insult to injury, Chevy Volts are under investigation for fires involving the cars’ lithium-ion batteries. For concerned Volt owners, GM has offered free loaner cars.
How are the mighty fallen. Remember the rosy predictions back when the Obama administration was pouring millions of taxpayer dollars into developing the Volt? It was going to be the car that would change the world
In August 2009, the Huffington Post gleefully reported:
General Motors Co. is touting the 230 mpg figure following early tests that used draft guidelines from the Environmental Protection Agency for calculating the mileage of extended-range electric vehicles.
The EPA guidelines, developed with help from automakers, figure that cars such as the Volt will travel more on straight electricity in the city than on the highway. If drivers operate the Volt for less than 40 miles, in theory they could do so without using a drop of gasoline.
Well THAT didn’t happen. So, to summarize, not only did the Chevy volt fall far below fuel economy predictions and sales projections, the car also catches on fire.
Imagine that ! So much for the great governmental bail out!
What would anyone expect? It is, after all, Government-Motors now. It even operates and performs the same as.......LOL.....I've been a Ford man ever since BooBoo and the Unions became majority stock-holders.
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