GM has marketed the Chevy Volt as not a green car, but focused mostly on the technological aspects of it with a bit on the electric aspect. There is not a very large market for electric cars, especially for when selling to the average car consumer, so they had to essentially sell the idea that people want an electric car, and then sell them on the Volt. It was billed as the newest, most technologically advanced car in the market that has less of an impact on the environment without having to drastically change your way of life.
GM was hoping for sales of 45,000 to 60,000 for the Volt in 2012, and while it was at 16,000 sales though September, there has been a steady increase in sales since the beginning of 2012. Currently the Volt is the leader in the plug-in car market, with the recently released Prius plug-in model, has 2012 sales of 7,734 in just 15 states, closing the gap the more that they expand their launch. As for other competitors, the Nissan Leaf is the next closest with 2012 sales of 5,200, and all other competitors, Honda Insight, Mitsubishi i-MiEV, well behind the top three. While the gas-electric car market is growing, it still makes up a very small portion of total car sales, which makes it a very competitive market.
GM, which was founded in 1908, employs 202,000 people in 158 countries on six continents. The original GM Corporation filed for bankruptcy on June 1, 2009 and on July 10, 2009 with help from the U.S. Government the GM Company was created. They took the strongest assets of the original GM and got rid of the brands that were not profitable. From June of 2009 until September or 2012, GM was forced to close down 1,500 dealerships which lead to 63,000 job losses, and since then have only been able to gain back 4,500 jobs. Due to the government bailout, the U.S. Government now owns a 26% stake in GM (50,000,000 shares), but the approx. $22 that the shares are trading at now would only be enough to cover half...
Please join StudyMode to read the full document