Obama couldn’t have picked a more appropriate vehicle to be its semi-official car.
Via The Week:
“General Motors sold a record number of Chevrolet Volt sedans in August,” say Bernie Woodall, Paul Lienert, and Ben Klayman at Reuters. “But that probably isn’t a good thing for the automaker’s bottom line.” Even though the environmentally friendly Volt’s base price is about $40,000, says Reuters, production costs per vehicle run a stratospheric $89,000 — given the car’s pricey lithium-polymer batteries, hybrid gas-electric engine, and next-age electronics. That means GM is losing $49,000 for each Volt it sells. Worse: GM has been offering two-year leases for a mere $5,000 to get customers hooked, which is eating deeply into its profits.