GM calls Reuters 'grossly wrong,' denies loss of $49k per Volt sold
Although a new report by Reuters contends that General Motors is losing as much as $49,000 on each Chevrolet Volt sold, the automaker has come out strongly against the publication’s assertion. According to GM, the Reuters article, which is based on interviews with industry and manufacturing experts, is “grossly wrong.”
Despite calling the piece “grossly wrong,” GM has previously acknowledged that it has lost money on the Volt. That being said, GM has maintained that its investment in the Volt will ultimately pay off as vehicle sales increase in the future.
“Every investment in technology that GM makes is designed to have a payoff for our customers, to meet future regulatory requirements and add to the bottom line,” said GM in a statement. “The Volt is no different, even if it takes longer to become profitable.”
As for the Volt's profitability, Reuters claims that the automaker is “still years away from making money on the Volt.” Reuters defends it argument by stating that the Volt will soon face solid competition from rivals like Ford and Honda. Ford’s upcoming Fusion Energi Plug-in Hyrbid is reported to get an impressive 100 MPGe. Details on the Honda Accord Plug-in Hybrid were announced last week.