Link to Bloomberg here.
On top of other worries, GM has cut sales forecast for the Chevrolet Volt.
The Volt is not on pace to meet GM's goal of 60,000 cars globally/45,000 in the US.
Through May, GM has sold about 7,000 Volts in the US (how many were bought by dealers "to keep" and how many were bought by consumers was not broken down). [May, five months --> 7,000/5 --> 1,400/month. On an annualized basis: 17,000 Volts to be sold in US this year.]
New estimate: 35,000 to 40,000 globally.
GM continues to say that "politics is partly to blame for disappointing sales. The falling price of oil/gasoline could perhaps possibly maybe be contributing to disappointing sales. And, of course, the cost and perceived "bang for the dollar."
And Ford, delaying decision to close a factory or factories in Europe is now worried about losses in Europe tripling in 2Q12. Tripling. Europe is in deep trouble. Europe used to be a strong base for Ford.
