Chevy Volt Costing Taxpayers Up to $250K Per Vehicle

[Blue Goose]

Sooooo, saving GM was a good idea, huh?

 

[Blue Goose]

GM: Still $42B in the Hole

Despite President Barack Obama’s stories about a resurgent GM ready to repay its bailout tab, the automaker and its former bank still owe taxpayers nearly $42 billion, according to an inspector general’s report.

GM owes $27 billion on the nearly $50 billion it received from the auto bailout and Ally Bank, the company’s lending arm, owes $14.7 billion of the $17.2 billion taxpayer-funded bailout it received.

 

[Blue Goose]

GM Ramps Up Risky Subprime Auto Loans To Drive Sales

President Obama has touted General Motors (GM) as a successful example of his administration's policies. Yet GM's recovery is built, at least in part, on the increasing use of subprime loans.

The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.

Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant role in GM's growth .

The automaker is relying increasingly on subprime loans, 10-Q financial reports shows.

Potential borrowers of car loans are rated on FICO scores that range from 300 to 850. Anything under 660 is generally deemed subprime.

GM Financial auto loans to customers with FICO scores below 660 rose from 87% of total loans in Q4 2010 to 93% in Q1 2012.

 

[DNFXDLI]

Obama is gonna sugar coat and say anything to make that sack of sh*t company sound good...and this latest pile of crap won't be an issue because if it goes to hell in a handbasket, they will get another gov't bailout.

 

[Blue Goose]

Hey Duncan, back up a couple of posts and check out that video......you'll chit a brick!

 

[DNFXDLI]

Aaaaarrrrggggghhhhh

 

[O'Rattlecan]

Hahaha!!!! They used to call this fascism.

Ryan

 

[taxreliever]

Obama is gonna sugar coat and say anything to make that sack of sh*t company sound good...and this latest pile of crap won't be an issue because if it goes to hell in a handbasket, they will get another gov't bailout.

Aaaaarrrrggggghhhhh

I'm glad we never really have to guess what you're feeling inside emotionally. Tell us how you really feel!

Got this also:

You have included 27 images in your message. You are limited to using 25 images so please go back and correct the problem and then continue again.

Images include use of smilies, the vB code

 

[fatherdoug]

I bet Duncan has quite a headache after all the headbanging!

 

[Blue Goose]

Taxpayers Help Fund Chevy Volt Village!

'700-acre planned community'...

Just the Facts:

OnStar, General Motors and the 2012 Chevrolet Volt have become official partners of Pecan Street Inc., where residents in a Texas community have agreed to be part of a clean-energy smart grid test for sustainable living.

GM calls it the greatest concentration of Chevrolet Volts in the world.

"This partnership provides us with a unique opportunity to observe charging details with many real customers in a concentrated setting," said Nick Pudar, an OnStar vice president, in a statement.

Aaaaaand, 'pure gold' from the comments section:

67vetteowner says:

11:08 AM, 08/01/2012

Notice, they offered everybody a $15,000 discount on the cars and half the people chose not to take them. This is just an excuse with more government money (grants) to help GM sell Volts that they can not get rid of.

LOL, if it was not so sad, that the govt is giving people tax money to buy their cars and still can not get rid of them. Maybe they should offer $50,000 to everybody who purchases a $45,000 Volt..

burple says:

10:55 AM, 08/01/2012

All you "enviro mental wackos" remember this.
MY SS CHEVELLE, BURNS ALL THE FUEL, YER LITTLE yo'bama car, SAVES !
Besides. Who wants a coal powered car, anyway ??

 

[Blue Goose]

Government Motors Spends $600M on UK Soccer Promo

General Motors plans to shell out as much as $600 million to sponsor a European soccer team despite owing $27 billion to American taxpayers.

GM’s Chevrolet logo will appear front and center on the jerseys of soccer powerhouse Manchester United, as part of one of the largest sponsorship deals in U.S. history. GM will pay $60 million per year for the logo—nearly double the $31 million European insurance company Aon paid—despite plummeting sales and massive liabilities.

 

[DNFXDLI]

I'm getting very close to using the hate word when that company comes up.

 

[O'Rattlecan]

They have to do something with all those cars they manufactured but can't sell!!! What better than a hippie commune in the middle of Texas?

Ryan

 

[Fellro]

Saw one on the road here, a long ways from most anywhere... Just a little town out away from everything. Thought it pretty useless for transport out here...

 

[taxreliever]

Pretty incredible.......this company continues to spiral out of control in dumb moves.

 

[Blue Goose]

GM to close Volt plant four weeks

* Halt to run from mid-September to mid-October -sources

* To be second time this year plant has stopped making Volts

* GM confirms the idling, declines to specify how long

 

[Blue Goose]

Obama's One Million Electric Car Goal: Three Percent Complete

In 2011, President Barack Obama set a goal of putting one million electric cars on American roads by 2015. Currently, there are just 30,000 electric cars on U.S. roads.

Reuters says industry experts predict that less than 200,000 electric vehicles will be on U.S. roads by 2015.

Further exacerbating the challenge of meeting Mr. Obama's goal is the fact that taxpayer-funded electric car battery companies continue to flounder. Last month, for example, struggling U.S. electric battery maker A123 Systems, which received a $249 million taxpayer-funded government loan, announced its plans to sell a controlling stake to Wanxiang, a Chinese company, for $450 million.

 

[DNFXDLI]

 

[Blue Goose]

REPORT: GOV'T MOTORS LOSES $49,000 ON EACH CHEVY VOLT...

(Reuters) - General Motors Co sold a record number of Chevrolet Volt sedans in August — but that probably isn't a good thing for the automaker's bottom line.

Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts.

 

[O'Rattlecan]

Haha, I knew you'd have this thread updated when I saw that story on Drudge.



Ryan