Just the latest “green” scheme of Obama’s to go belly-up.
This is the car that Obama had recently committed to subsidize with taxpayer dollars, to the tune of $10,000 per car.
Just last week Obama promised that he would soon buy one. This is yet more proof that there’s nothing Obama does better than make lousy bets with other people’s money and leave taxpayers holding the bag.
General Motors reached another Obama milestone when they announced late on a Friday afternoon that they were suspending production of the Obama-inspired Chevy Volt for five weeks due to lack of demand.
Presumably the Volt was an attempt by GM to help Obama with his pledge to put 1 million electric cars on the road in return for the tens of billions of dollars in forgivable “loans” that the company got from the Obama administration from the TARP bailout.
The hybrid gas-electric vehicle gets 25 miles on a full, overnight charge and costs around $40,000. To date, GM has sold around 10,000 vehicles. To put it in perspective, the Chevy Corvette has a sticker price of $49,600.
If the Volt’s not in the federal witness protection program, it ought to be.
“Sales also took a hit last fall when the National Highway Traffic Safety Administration opened a probe into why two Volts burst into flames days or weeks after severe NHTSA crash testing,” reports USA Today. Leaks from the cooling system were caused by shortages in the electrical system that prompted the fires. But the discovery came only after weeks of bad press for GM. Eventually the car company offered to buy back every single Volt for any consumer who was unhappy.
But lack of sales- and production- hasn’t stopped the government-owned car company from mapping out a marketing strategy that might have been fashioned by the marketing geniuses of the IRS and the United States Postal Service combined: “The Volt’s technology and its recent accolade from Consumer Reports make the Volt a marketing tool for Chevy,” said Alan Batey, vice president for Chevrolet U.S. sales, at the beginning of December according to Bloomberg. “This vehicle is about more than how many we sell,” Batey said. “This vehicle is a magnet around everything we are trying to do to showcase our brand.”
If that’s the case, it looks like a poor magnet and a poor tool. And taxpayers, who are still owed billions by the company, are about to get screwed even worse in the coming months.
Has anybody else noticed the disturbing correlation between Obama speaking for a product and that product failing miserably shortly thereafter? And they say this guy gives good speeches. Solyndra, Evergreen Solar, SpectraWatt — the list of failures touted by Obama goes on and on and on. Midas was to gold as Obama is to blood-red ink.
When Obama visits a factory, it becomes a “failure factory,” doomed to the scrap heap of defunct businesses. Obama is such a bad luck schleprock, that if Obama were to warn the CEO of a company of his visit, I recommend that the CEO have all employees stay home and that he put a sign on the lobby door that reads, “Factory Being Remodeled Until Nov 6, 2012…unless there is no God and we have to close for an additional four years!”
Sometimes, however, it doesn’t even take a visit from Obama, and all Obama has to do is mention a company by name to doom it. Obama’s State of the Union addresses or stump speeches have corporation marketing executives and shareholders shaking in their capitalist boots.
Companies are realizing that when Obama helps, it hurts. And getting “stimulus” from Obama is like possessing the Hope Diamond, where nothing comes of it but despair. GM is finding this out the hard way.