The Chevrolet VOLT may be the "crown jewel" of government intervention examples... of what not to do.
After tax payers have spent tens of millions on developing batteries that can only get a car 50 miles, hundreds of millions on hybrid incentives and billions on bailouts... the news gets worse for dying VOLT sales.
Early this month we hear that, "Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether" Now, the Volts that caught fire after government crash tests are trying to avoid the bad publicity of recalls
The Sacramento Bee - Eligible for the free repairs, announced Thursday, are 8,000 Volts on U.S. roads and another 4,400 still for sale. The cars are covered by a "customer satisfaction program" run by GM, which is similar to a safety recall but allows the carmaker to avoid the bad publicity and federal monitoring that come with a recall...GM has a huge incentive to fix the problem and protect the Volt's image. Although the car isn't a big seller - it's fallen short of sales goals - it burnishes GM's image as a greener, more innovative carmaker. Please read more at The Sacramento Bee
Haase Note:
Of the 8,000 sold... 6,500 Volt owners have requested the automaker buyback their car
After tax payers have spent tens of millions on developing batteries that can only get a car 50 miles, hundreds of millions on hybrid incentives and billions on bailouts... the news gets worse for dying VOLT sales.
Early this month we hear that, "Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether" Now, the Volts that caught fire after government crash tests are trying to avoid the bad publicity of recalls
The Sacramento Bee - Eligible for the free repairs, announced Thursday, are 8,000 Volts on U.S. roads and another 4,400 still for sale. The cars are covered by a "customer satisfaction program" run by GM, which is similar to a safety recall but allows the carmaker to avoid the bad publicity and federal monitoring that come with a recall...GM has a huge incentive to fix the problem and protect the Volt's image. Although the car isn't a big seller - it's fallen short of sales goals - it burnishes GM's image as a greener, more innovative carmaker. Please read more at The Sacramento Bee
Haase Note:
Of the 8,000 sold... 6,500 Volt owners have requested the automaker buyback their car
