- Apr 6, 2009
Money-losing Chevy Volt will stay alive even if it can't "pay the rent"
The Chevy Jolt
General Motors doesn't have any money to play around with these days, but new CEO Fritz Henderson is willing to let at least one vehicle program's fiduciary requirements slide. Even though Henderson said recently that all GM models will need to "pay the rent," the money-losing Chevrolet Volt program will not be held to that standard. Apparently, the Volt is kind of like that really cool, constantly broke college roommate that never got kicked out because he had the best music.
No one at GM ever said that the first-gen Volts would make money, but Troy Clarke, president of GM's North American operations, recently told Automotive News (subs req'd) that the second-generation vehicles might also be a red entry on the books. Of course, "as we get a chance to change the generations of technology, we'll lose less and less," he said, adding that, "It's not our intention to lose money forever." Well, that's something.
Tony Posawatz Bob Lutz Bob Boniface Bob Boniface Frank Weber Frank Weber Tony Posawatz Andrew Farah Andrew Farah
[Source: Automotive News (subs req'd)]