Chevy Volt Sales Plunge 32% in October
On Friday, General Motors reported its monthly sales figures for October. Overall the auto company said it sold 33,000 more cars this October, compared to the month last year. Overall sales increased just over 15%, beating Wall Street expectations. Tucked into its sales figures, however, was a staggering 32% drop in sales of the company's iconic Chevy Volt. The company sold just over 2,000 Volts in October. Last October, the company sold almost 3,000.
Overall, sales of the Volt are down 3% for the year so far. This comes as GM has increased its total car sales by just over 9% for the year. The Volt, which has played a central role in the company's rebranding since its government takeover, is badly trailing the rest of the automaker's fleet. The sales disappointment comes even as the company offers special leasing terms and zero-downpayment for the Volt.
Despite nearly constant media promotion, there simply is little mass market demand for electric vehicles. Even if a consumer were shopping for an electric vehicle as an extra car, several battery fires in Volt vehicles doesn't do much to recommend the car.
Consumers don't like their luxury or vanity products spontaneously combusting.