Hey Obama....hows that great electric car selling...the Volt you dolt.
Does General Motors' (GM) five-week production suspension of the Chevrolet Volt because of oversupply cast doubt on whether electric cars can sell in volume at current prices? The analysts at Edmunds.com think so.
"The oversupply of Volts suggests that consumer demand is just not that strong for these vehicles," says Lacey Plache, Edmunds chief economist. Plache notes that high price is a drawback. "The price premium on the Volt just doesn't make economic sense for the average consumer when there are so many fuel-efficient gasoline cars available, typically for thousands of dollars less."
GM says its temporary Volt shutdown and idling of 1,300 workers is necessary to get its inventory levels in line. The company sold 7,671 Volts last year -- well short of its 10,000 target. And selling 1,626 in the first two months this year is far below the pace needed to hits its original 2012 sales goal of 45,000
How they all selling....?