Tuesday, July 18, 2017

GM Bolt Bulging Inventory -- 105-Day Supply -- FBN -- July 18, 2017

GM extends Bolt shutdown -- Fox Business News.

Since no one trusts Fox, let's see what Reuters has to say:
  • GM's vehicle inventory hit a 10-year high
  • 105-day supply
  • this is after GM told investors in April that expected inventories would decline to a 90-day supply by the end of June, ans would fall to 70 days by the end of the year
  • GM has extended the shutdown of Bolt manufacturing at its Michigan factory
  • [GM said Bolt was being hurt by its Sonic sales -- FBN]
  •  Chevrolet Sonic small car at the Orion plan: sales are down nearly 37 percent for the year to date 
  • and here it is, at Reuters
    • A spokesman for the company said the shutdown at Orion was "due solely to softening sales of the Sonic" model, adding that its production plan for the Bolt for this year was unchanged. 
  • at one dealer in Rhode Island: more than 200 Bolts in inventory ranging from $36,000 to $41,000
Wow, $40,000 for a compact?

With gasoline at $1.99/gallon?

Is this the real problem: potential EV buyers are waiting for the new Tesla at about the same price? EV sales tracked here.


Up another 14% ($25) today in a falling market. 


Off the radar scope, the current allied military push on the ISIS capital of Raqqa (Raqqah). Iraqi news service reported a week or so ago that the allies had re-taken Mosul, the most important city held by ISIS at the time.

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