GM Suspends Volt Production Citing Slow Sales
In April 2015, the GM announced that it will stop making the Chevrolet Volt for four weeks in June and July due to slow sales and to deal with the change to an all-new version of the gas-electric hybrid car. Despite the changes happening with the Volt, the Detroit-Hamtramck plant will stay open through the summer. The factory also is undergoing construction so it can build a new full-size Cadillac CT6 and the 2016 Volt starting late in the summer.
The Volt ran into problems when gas prices fell. People stopped buying electric and hybrid cars, causing inventory to build on several dealer lots. Through March, GM sold only 1,874 Volts, which is down 48 percent from a year ago. The company now has enough Volts to supply dealers for 210 days, according to Ward’s Automotive. A 60-day supply is optimal.
According to Michelle Malcho, a GM spokeswoman, the high inventory of Volts is a factor in the production cuts, but not the only one. The plant construction, engineering changes and pre-production plans for the new Volt and CT6 all were part of the decision, she said. This next-generation Volt will have a few different changes including more room inside, a sleeker look, and will be able to go up to 50 miles per charge. Pricing has not yet been released.
General Motors led global vehicle sales for 77 consecutive years from 1931 through 2007, which is longer than any other automaker. The company is currently among the world's largest automakers by vehicle unit sales. The company plans to build a fully electric car for the 2017 model year called the Bolt with a 200-mile range and a price of $37,500 before the tax credit.
Headquartered in Detroit, Michigan, General Motors Company is an American multinational corporation that designs, manufactures, markets and distributes vehicles and vehicle parts and sells financial services. General Motors produces vehicles in 37 countries under thirteen brands: Alpheon, Chevrolet, Buick, GMC, Cadillac, Holden, HSV, Opel, Vauxhall, Wuling, Baojun, Jie Fang, and UzDaewoo. General Motors acts in most countries outside the U.S. via wholly-owned subsidiaries, but operates in China through 10 joint ventures. Their popular subsidiary, OnStar, provides vehicle safety, security and information services.
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