March 6, 2012
Best Car of the Year!
Why, it's the Chevy Volt of course! It's won several prestigious awards. It's just that nobody wants to buy it... Joann Muller at Forbes, delivers the bad news. But she is painfully even-handed in her appraisal.
Critics quickly jumped on that news as evidence that the Volt is a wasteful folly and the federal government shouldn't be meddling in the auto industry. Never mind that the Volt was conceived long before GM's 2009 taxpayer-financed bankruptcy. As investors with a 32% stake in the world's largest carmaker, taxpayers ought to be pleased by GM's uncharacteristic discipline in matching its vehicle production to real demand. Instead of overproducing Volts, and then heavily discounting them to get people to buy, GM is protecting its investment.
Bursting with pride, Joann, I'm bursting with pride! But...
The Volt's hefty pricetag, $41,000, no doubt scared away some buyers. Even with a $7,500 federal tax credit, it's a lot to pay for a four-seat Chevrolet. The lease price isn't bad at all -- $350 a month, with $2,500 down -- but consumers have somehow missed that marketing pitch, and that's GM's fault. There have been other issues, too: a government investigation into post-crash test fires (much ado about nothing) and the challenge of making people understand the Volt's unique gas-and-electric technology.
You see, ThreeSourcers, you don't have to pony up 40K and wait for your tax refund -- you can lease a volt for $350 a month with $2500 down!
Those critics. What a bunch of losers, eh?