Congress ought to deduct these losses from Barack’s pension.
Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. GM on Monday issued a statement disputing the estimates.
Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.
It didn’t actually save GM. It prevented GM from going through the normal bankruptcy process, which saved the current union contracts. Otherwise those contracts would have to be renegotiated had GM went through bankruptcy. So in essence, it was a back door bailout for the UAW.
No matter how you try to explain it to your union friends though, you’ll be labeled a union basher :rolleyes:
Oh and if you have a 401k that invested in them, you lost money as a shareholder. I wonder how many pension funds were invested them as well? Which makes it pretty ironic when the unions bash the shareholders thinking they’re all thise evil, rich, fat cats.
GM has nothing to offer that will make up for stealing from me via taxes. Unless they want to sell me a ZR1 for $35,000, in which case I might reconsider!
Very good point! I may even one day purchase a Chrysler product, given they’re a successful company.
When you look at all the products GM sells though…come on. An F150 Ecoboost puts out 380 HP and 425 ft/lbs with 19/22 per gallon fuel economy. GM puts down 315 HP and 335 ft/lbs, 14/21 per gallon fuel economy and you pay more for the truck…don’t mean to delve too deep in to truck tech but trucks are easy to compare and demonstrate the problem very effectively…the truck market in the US is massive and GM has completely lost hold of it…it’s just one more reason they’re doomed to fail. The sad part is that they’re failing AGAIN…this time hopefully we won’t have to pay for it.
Chrysler still builds most of their stuff here, but Fiat owns some 60% of the company and Sergio Marchionne is the CEO.
They have an agreement where most of the small cars are going to be heavily influenced by Fiat, but the larger stuff is all Chrysler. Ram and Jeep have almost complete autonomy
Welcome to the new auto industry where they can make cars which lose money but the losses are absorbed by the tax payer. Just like every other government agency. Report a loss? Thats ok we just subsidize it with tax money…
