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Chevy Forced To Extend Shutdown Of Bolt Plant After Realizing That Literally No One Wants A Bolt

Chevy Forced To Extend Shutdown Of Bolt Plant After Realizing That Literally No One Wants A Bolt

General Motors launched it's much-hyped, all electric Chevy Bolt at the end of 2016.  The Bolt was expected to make a splash as it was the first electric car in the U.S. market to offer 200 miles of driving range at an affordable price starting around $35,000.  The only problem is that pretty much no one seems to want one.

Unfortunately, that lack of demand is about to earn a bunch of UAW workers at GM's Orion, Michigan plant an extended summer vacation.

Beginning Of The End? Auto OEMs Miss March Sales 'Bigly' As Stocks Tumble

Beginning Of The End? Auto OEMs Miss March Sales 'Bigly' As Stocks Tumble

Despite continued heavy incentive spending, every auto OEM, with the exception of Nissan, missed their sales forecasts for the month of March.  The "D3" were the biggest losers of the month with GM sales up 1.6% YoY vs. estimates of +7.0% while Ford sales dropped -7.2% and Fiat Chrysler declined -5.0%.  Car sales were even worse with industry volumes down 10.6% overall versus light truck sales that were up 5.2% according to Autodata.

US Auto Dealers Forced To Rent First "Overflow Lots" In 37 Years Amid Inventory Glut

US Auto Dealers Forced To Rent First "Overflow Lots" In 37 Years Amid Inventory Glut

Yesterday we noted that GM launched an aggressive incentive program in the month of February to clear out some of its pickup truck inventory.  In fact, incentives on the company's Silverado were up 56% YoY to $6,996, while discounts on the Sierra were up 82% to $5,315 (see "GM Pickup Incentives Surge Over 80% As Auto Bubble Continues To Show Signs Of An Imminent Bust"). 

GM Lied To The Public And To Trump About Where Chevrolet Cruze Sedans Sold In The USA Are Assembled

GM Lied To The Public And To Trump About Where Chevrolet Cruze Sedans Sold In The USA Are Assembled

Submitted via Duane of Free Market Shooter

On Tuesday, president-elect Trump tweeted about General Motors, stating the GM was building its Chevrolet Cruze in Mexico, importing them to the US tax-free, and selling them at US car dealers:

 

GM Responds To Trump: You're Wrong

In a terse and non-deferential response to president-elect Trump's tweet, GM has responded with a statement which can be summarized in two words: "you're wrong."

Following Trump's tweet...