50 replies to this topic

[Hum]

General Motors is taking a $49,000 bath on each Chevy Volt it sells, according to a report.

Citing data provided by consulting firm Munro & Associates, Reuters estimates that each one of the ballyhooed pug-in hybrid vehicles is currently costing upward of $89,000 to produce. With a sticker price of just less than $40,000, that makes for a sticker price disaster.

GM denied the estimate, calling it “grossly wrong, in part because the reporters allocated product development costs across the number of Volts sold instead of allocating across the lifetime volume of the program.”

But Sandy Munro told FoxNews.com that he stands behind the number, though he added that it was calculated based on industry standards without any specific inside information about the Volt program.

GM has never released exact numbers on development and production costs for the Volt, in part because many of the components used to make it are shared with other vehicles, including its platform and internal combustion engine. Nevertheless, even before it went into production the automaker admitted that the first generation of the car was not likely to turn a profit.

GM's response to the Reuters article further states that “every investment in technology that GM makes is designed to have a payoff for our customers, to meet future regulatory requirements and add to the bottom line. The Volt is no different, even if it takes longer to become profitable.”

full story

[Nerd Rage]

Bailout money hard at work

[nominak]

They're not losing $49,000 on each volt.

http://jalopnik.com/...-with-each-volt

[+Blank]

Nerd Rage, on 10 September 2012 - 23:42, said:

Bailout money hard at work

yeah lets pretend its even related.

So basically Foxnews is telling GM that they're losing money, while GM says they're wrong?
Nice story.

nominak, on 12 September 2012 - 09:43, said:

They're not losing $49,000 on each volt.

http://jalopnik.com/...-with-each-volt

Quote

Reuters realized this as well, after other sites caught the bad math, because it appears that the original story may have been edited to temper the original claims.

and yet foxnews is still running with it. It's that "arithmetic" challenge again.

[hamslammer]

Hum, on 10 September 2012 - 23:41, said:

General Motors is taking a $49,000 bath on each Chevy Volt it sells, according to a report.

Citing data provided by consulting firm Munro & Associates, Reuters estimates that each one of the ballyhooed pug-in hybrid vehicles is currently costing upward of $89,000 to produce. With a sticker price of just less than $40,000, that makes for a sticker price disaster.

GM denied the estimate, calling it “grossly wrong, in part because the reporters allocated product development costs across the number of Volts sold instead of allocating across the lifetime volume of the program.”

But Sandy Munro told FoxNews.com that he stands behind the number, though he added that it was calculated based on industry standards without any specific inside information about the Volt program.

GM has never released exact numbers on development and production costs for the Volt, in part because many of the components used to make it are shared with other vehicles, including its platform and internal combustion engine. Nevertheless, even before it went into production the automaker admitted that the first generation of the car was not likely to turn a profit.

GM's response to the Reuters article further states that “every investment in technology that GM makes is designed to have a payoff for our customers, to meet future regulatory requirements and add to the bottom line. The Volt is no different, even if it takes longer to become profitable.”

full story

The sad part is that the American taxpayer is paying for this disaster caused by the Obama regime. I'll be elated to see him go this November.

[+jamieakers]

hamslammer, on 12 September 2012 - 10:24, said:

The sad part is that the American taxpayer is paying for this disaster caused by the Obama regime. I'll be elated to see him go this November.

With people like you voting it's no wonder the USA is in the trouble that they are.

[+Blank]

hamslammer, on 12 September 2012 - 10:24, said:

The sad part is that the American taxpayer is paying for this disaster caused by the Obama regime. I'll be elated to see him go this November.

Actually, unlike the Bush debt, OBama didn't give money to these companies, he gave them loans, which are almost paid back. The government is MAKING money off the loans. You fail.

[Beyond Godlike]

muggerfugger, on 12 September 2012 - 10:31, said:

Actually, unlike the Bush debt, OBama didn't give money to these companies, he gave them loans, which are almost paid back. The government is MAKING money off the loans. You fail.

Hahha, and theyll say "according to the liberal media only"..cause we know Fox denies facts and gets away with it.

[ahhell]

nominak, on 12 September 2012 - 09:43, said:

They're not losing $49,000 on each volt.

http://jalopnik.com/...-with-each-volt

LOL. What ****ty site. They even have a typo in the URL. I wouldn't believe anything that those jackasses say.

[rhianntp]

of course they can afford to make products they lose money on..you and I paid for it....this fraud is going down in a landslide.. MOST Americans understand our ecomomic system better than those in power right now...

[+Blank]

rhianntp, on 12 September 2012 - 10:41, said:

of course they can afford to make products they lose money on..you and I paid for it....this fraud is going down in a landslide.. MOST Americans understand our ecomomic system better than those in power right now...

Nice at you to ignore all the facts, and all the other posts
Ignorance at its finest.

[streetw0lf]

Remember, Bush gave Free grants to the banks with no strings attached, 800 billion or so. They're the folks that then used part of it to pay outrageous bonuses for running the business in the ground. They could do anything they want with it and never give a penny back.

The auto bailout as mentioned was a loan that is almost paid back with interest. Ford was the only major car manufacturer that didn't accept any money from the Feds.

I realize Republicans and Obama haters don't believe in 'fact checking' but here you have the facts.

[threetonesun]

Maths! Never trust a journalist with them.

[Big b0b]

lots of obama lovers in here I see...

[Growled]

I can't believe GM is losing that much money per car. Not unless they are getting a huge kickback from the government.