Editor’s note: John Ransom, against the advice of those close to him, saw fit to escape for a brief vacation. As you are reading this, John is trying his best to enjoy a cruise on the now infamous Carnival Cruise Lines. Below is what can best be described as a “Best of” article. (Although, that description is only being used for the sake of brevity.)
Once our illustrious Townhall Finance Editor has his cruise ship towed into the harbor, he will be back with fresh content and mildly intriguing articles. In the meantime, check out our other top-notch contributors such as Daniel J Mitchell, Mike Shedlock, or – if you can bear it – feel free to read my commentary. Thanks for reading! And let not your heart be troubled, John will be back shortly. (We wouldn’t allow him to leave for any extended period of time.)
- Michael Schaus, Associate Editor for Townhall Finance
The good news for GM these days is that no one has been consumed in a fiery death due to engine compartment fires since the Chevy Volt was discovered to spontaneous combust after accidents shortly after production began.
The bad news for the company is that while Chevy Volt sales in June set a record, prior to June their sales for 2013 sucked despite general auto sales setting post-crash records.
“With signs that sales of its Chevrolet Volt battery car could be coming unplugged,” reported NBC News in June, “General Motors is offering potential buyers as much as $5,000 in incentives – making it the latest maker to try to cut prices in a bid to boost lagging demand for electric vehicles.”
In June the company reported 2,698 Volts sold thanks to those drastic discounts by GM. In fact, all battery-powered cars have seen deep price cuts due to disappointing sales.
“For the first five months of this year,” said NBC News, “GM has sold only 7,157 of what it prefers to call an extended-range electric vehicle, or E-REV. May sales, in particular, fell 4.3 percent, to 1,607. By comparison, the overall U.S. automotive market was up 8.2 percent for the month. According to a report by Inside EVs, Chevy dealers have more than 9,000 Volts clogging inventories, vehicles they need to clear out before the 2014 models start rolling in.”
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for November 21st, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 17th, 2014 | John Ransom