Monday, August 27, 2012

Sigh: GM idles Volt production -- again

The hits just keep on coming for GM, what with advertisements so misleading they've been banned, lawsuits for channel-stuffing, 500,000 recalls for, uhm, vehicles that catch fire, the fact that it still owes taxpayers more than $35 billion, its thousands of excess workers around the world, its need for a bigger credit line to pay off pension obligations, rapid-fire management turnover or a hemorrhaging stock price.

As Tyler Durden observes, "color us surprised:"

GM is set to idle the plant where it assembles the Chevy Volt for four weeks - starting next month. GM will close its Detroit-Hamtramck plant from Sept 17 to Oct 15 with its 1500 staff being made aware by union reps at the end of last week. The knock-on effect is relatively obvious as the illustrious government-owned auto manufacturer notified suppliers last week and while a GM spokesperson would not confirm the planned shutdown, we couldn't help but raise an eyebrow at the comment that "we continue to match supply and demand" as we note this is the second time this year that GM has throttled back on Volt production.

The Detroit-Hamtramck plant was idled from March 19 until April 16 amid swollen Volt inventories.

And don't even get me started about the Dealergate Scandal (during which the Obama administration closed dealerships based upon political motivations), a scandal later confirmed by "Auto Czar" and Obama crony Steve Rattner.

Chart: Yahoo! Finance.


The MUSEman said...

Motor-generator hybrids - Weren't popular in 1898, and, apparently, still aren't now.


Pity GM's stopping Volt production just before football season: Guess people will just have to revert back to "traditional" tailgate barbecues! LOL

Thanks for reading!

Reaganite Independent said...

Plug-in p.o.s.