Chevy Volt

Ask GM Bondholders and Delphi Retirees About Obama's 'Economic Patriotism'

Obama debate photoPresident Obama called for a "new economic patriotism" during last night's presidential debate. Well, hold on to your wallets as this new buzz phrase seems to be a euphemism for "wealth redistribution." Just ask old General Motors bondholders or non-unionized Delphi retirees about how Obama's so-called "shared sacrifices" are more about cronyism than patriotism.

Embassies Facing Security Cuts Waste Money on Chevy Volts

Volt and Embassy officialThe U.S. military's newspaper, Stars & Stripes, recently reported that the Pentagon is buying Chevy Volts in a 1,500 electric-vehicle purchase, as part of the Defense Department's "green initiatives," which seek to reduce the country's dependence on foreign energy sources.

A recent Congressional Budget Office study challenged the assumption that electric vehicles have any impact on such dependence, prompting the question of why the government is spending money this way. Against the backdrop of the attack on our embassy in Benghazi, and looming embassy security cuts due to sequestration, it appears politics and ideology are trumping common sense.

Taxpayer-Funded EV Company Abandons IPO It Thought Would Save It

Frito Lay Electric TruckThe failing British electric vehicle company that pretended to become an American one in order to save its U.K. investors has scrapped its planned initial public offering that it hoped would save it in Kansas City.

Smith Electric Vehicles, recipient of $32 million in taxpayer stimulus, had reportedly fantasized it would raise $76 million (down from $125 million) via an IPO by selling roughly 4 ½ million shares at $16 to $18 each. CEO Bryan Hansel bowed to reality Thursday night and rescinded those plans.

Government Stimulus Can't Overcome 100 Years of EV Battery Shortcomings

Nissan logoIt’s the battery.

Contrary to the excuses that Nissan has supplied about the loss of capacity for owners of the all-electric Leaf in the desert Southwest – especially super-hot Phoenix – a tightly-controlled test of a dozen of the vehicles showed that all of them experienced reduced range. Even a month-old Leaf could not recharge to 100 percent.

General Motors Makes Obama an Offer He Can’t Accept

Here we go again. Déjà vu all over again as General Motors spreads rumors that they are tired of being Government Motors and they are so cash rich that they offered to buy Treasury's taxpayer-funded stake in the company. In typical deceptive GM fashion, sources were not named and spokesman Jim Cain refused to confirm the rumors. This is not the first time GM played the rumor game, as I previously wrote about over a year ago.

GM Admits There's No Market for Chevy Volt - Updated

Volt and AkersonA Reuters' article earlier this week created quite a buzz when it suggested that General Motors was losing $49,000 on every Chevy Volt sold. While many continue to debate just how much money GM loses on the politically-motivated car, a more important story on the Volt was reported by Automotive.com last week which explained the increase in August sales numbers for the vehicle. The piece exposes how GM (along with taxpayers) is heavily subsidizing leases and even gets an embarrassing admission from GM on the struggling Volt that, "The whole idea is we're creating a market." And this blockbuster, "There is no plug-in market."

VIDEO: Obama's Ridiculous Fuel Economy Standards

NLPC Associate Fellow Mark Modica is interviewed on 9/5/12 about new vehicular fuel economy standards on the Fox Business Network. Host is Gerri Willis. Here is a transcript:

GM (Again) Halts Chevy Volt Production

USA Today reports that General Motors will be, once again, temporarily halting production of the Chevy Volt. According to GM, the halt is not due to low sales of the Volt. The article quotes a Chevy spokesman as saying, "We are not idling the plant due to poor Volt sales. We're gearing up for production of the new Impala."

Why Can't Akerson Come Clean on Chevy Volt Fiasco?

Akerson and Volt photoSome truths are so obvious that they cannot be denied. But that doesn't stop General Motors and politically-motivated cheerleaders for the Chevy Volt from trying. In the case of the Volt, the truth is that this car has been a dismal failure when considering the amount of hype and taxpayer money that has been spent to produce the supposed green wonder-car. Let's review just how wrong GM CEO, Dan Akerson, has been regarding sales projections for the Volt and how he refuses to take accountability for GM's blunders. 

New Fisker Fire, While Taxpayers Cover Utility Bills for Empty Plant

Fisker logoAnother government-funded electric vehicle has burned.

This time it’s the second fire in a Fisker Karma, which received $193 million out of a $529 million award from a Department of Energy loan guarantee before the cabinet agency cut the company off for failure to meet still-undisclosed milestones. This blaze (video), according to a report on the automotive Web site Jalopnik, occurred in a Woodside, Calif. parking lot while its owner was inside a store shopping for groceries.

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