Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Volt Could Spark GM Bailout

Electric car may be speedy route to green image—and help

By Rob Quinn,  Newser Staff

Posted Jul 2, 2008 8:32 AM CDT
Email

(Newser) – GM is about as likely to turn a profit with the Chevy Volt as the Edsel is to make a comeback, Holman W. Jenkins Jr. writes in the Wall Street Journal. But the ailing automaker may be aiming to improve its image rather than sell cars. With the automaker's image suitably greened, a federal bailout may become more politically acceptable, Jenkins suggests.

With serious usability issues and a price tag of around $45,000, Jenkins writes, the Volt could serve as a third car for an affluent family, but little more, Jenkins writes. GM's share price, meanwhile, is at a half-century low. Rather than gamble that a revolution in consumer behavior will boost electric cars, GM instead is "betting the Volt will trigger a change in Washington's taste for bailing out a domestic carmaker," states Jenkins.

The electric powered Chevy Volt concept car is displayed at the New York International Auto Show in New York, Wednesday, April 4, 2007. The show opens to the public on April 6, 2007.
The electric powered Chevy Volt concept car is displayed at the New York International Auto Show in New York, Wednesday, April 4, 2007. The show opens to the public on April 6, 2007.   (AP Photo/Seth Wenig)
Bob Boniface, GM Director of E-Flex Systems Design, addresses the crowd at a press briefing for the Volt's visit to South Florida on Thursday, October 18 at the Raleigh Hotel in Miami Beach.
Bob Boniface, GM Director of E-Flex Systems Design, addresses the crowd at a press briefing for the Volt's visit to South Florida on Thursday, October 18 at the Raleigh Hotel in Miami Beach.   (AP Photo)
The Chevy Volt is on display during the Chevrolet news conference at the New York International Auto Show Wednesday, March 19, 2008.
The Chevy Volt is on display during the Chevrolet news conference at the New York International Auto Show Wednesday, March 19, 2008.   (AP Photo/Mary Altaffer)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

GM share price keeps tumbling
CNN

Compact cars start to look a better bet
MotorTrend

 
General Motors • automaker • electric cars • auto industry • Rick Wagoner • Chevrolet Volt

More Newser Stories

Automakers Pushing 'Connected' Cars

GM Reclaims World's No.1 Spot

GM Ready to Fix Your Volt

Bentley Planning $140K SUV

Tsunami Survivors: Nissan Leaf Batteries
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne