GM called ‘grossly wrong’ the media report which described the Chevrolet Volt as a major money loser.
Reuters published a report in which it estimated that GM loses as much as $49, 000 per each Volt it manufactures, but GM said that the calculations made did not take into account that development costs are divided among all cars sold over the course of the model’s lifetime.
GM confirmed the fact that it is losing money on the Volt, but refused to declare how much. The automaker is still confident that the investment made now will pay off in the near future as Volt sales begin to accelerate and the price of the extended-range electric/generator powertrain begins to decrease. Although GM didn’t manage to reach its 2012 sales target, sees sales recovering after some dealers started offering a cheap lease. In August the Volt sold 2,831 units, the best month since its launch.
“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,” GM said in a statement. “The Volt is no different, even if it takes longer to become profitable.”