Some motorists paid only $5K to drive around in a new $80K Volt for two years
(Becket Adams) General Motors posts a $49,000 loss for each new Volt plug-in hybrid it produces, Reuters reports.
You know what this means, right? It mean that for each new Chevy Volt, the taxpayer bailed out company loses what the average American makes in a year.
And on top of that, rock bottom lease offers made during the summer may have inflated the above number. According to the report, some motorists paid only $5K to drive around in a new $80K Volt for two years. Oh, yeah, and Volt production has been put on hold at GM’s Detroit-Hamtramck plant.
What we’re trying to say is that it will be a very, very long time (if ever) before GM makes a profit on the Volt.
The problem with the car is that “the Volt is over-engineered and over-priced,” according to Dennis Virag, president of the Michigan-based Automotive Consulting Group.
Read more: The Blaze