GM stopping Chevy Volt production for 4 weeks, sales slow, 1500 workers affected

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"The Volt...can go 38 miles on battery power before needing a recharge from its gasoline engine."

8/27/12, "GM stopping Chevy Volt production for 4 weeks," green.autoblog.com

"This is not the first time General Motors has idled Chevrolet Volt production (see here and here) but it is perhaps the most unexpected. According to Automotive News, the Volt's Detroit-Hamtramck plant will be shut down for four weeks – from September 17 until October 15 – starting next month. This will affect about 1,500 workers.

With this news, it seems that GM must be sitting on more Volt inventory than we suspected. Earlier this year, the plant was shut down because GM had a 150-day supply of Volts, but sales have been good this summer. Still, AN says, as of August 1, GM had an 84-day supply. Another clue that there are more Volts around than people want, some Volt lease deals have surfaced recently that are considered underpriced. A spokesman told AN that, "We don't comment on production schedules. We continue to match supply and demand.""

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8/28/12, "GM Said to Halt Chevrolet Volt Production for Four Weeks," Bloomberg

"Sales of the plug-in hybrid sedan haven’t met Chief Executive Officer Dan Akerson’s projections this year. Through July, GM sold 10,666 Volts in the U.S., according to researcher Autodata Corp. Akerson had aimed for sales of 60,000 globally, of which 45,000 would be delivered in the U.S. In June he said sales would probably total 35,000 to 40,000."...

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8/27/12, "GM suspending Chevy Volt output, retooling for Impala," USA Today, Healey


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