Mar 19, 2012 0
General Motors suspends Volt production
As widely expected, GM is suspending the production of the Volt for five weeks as reported here : General Motors suspends Volt production.
General Motors Co. is suspending production of its Chevrolet Volt electric car for five weeks amid disappointing sales.
A GM spokesman said Friday that the company will shut down production of the Volt from March 19 until April 23, idling 1,300 workers at the Detroit-Hamtramck assembly plant.
The Volt was rolled out with great fanfare in late 2010 but has since hit bumps in the road.
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GM sold 7,671 Volts last year, below its original goal of 10,000 cars. The company stopped publicly announcing sales targets last year. It sold 1,023 Volts in February and 603 in January.
"The fact that GM is now facing an oversupply of Volts suggests that consumer demand is just not that strong for these vehicles," said Lacey Plache, chief economist for auto information site Edmunds.com.
GM spokesman Chris Lee said the company was "taking a temporary shutdown" of the assembly line.
"We’re doing it to maintain our proper inventory levels as we align production with demand," he said.
Yup, align production with demand.
Now, here’s my good ol’ post about GM’s woes : Will GM go bankrupt again?