Obama’s Edsel? His Electric Vehicle And Chevy Volt Promises Now Dismal Failures

Obama’s Edsel? His Electric Vehicle And Chevy Volt Promises Now Dismal Failures

 

Obama in 2011 said his actions would result in 1,000,000 electric cars being on the road as of last month.  How many are there today? Less than 287,000.  Being there already were many on the road when he said this in 2011, calling his results a dismal failure is fair.

Being it has been calculated that working Americans were forced to pay about $250,000 for each Chevy Volt made and the Volt buyers, who are relatively rich people, only paid $40,000, then the comparison to what has been referred to as worst car model failure ever, the Ford Edsel is unfair.  Unfair to the Edsel.

The Chevy Volt is clearly a far bigger failure than the Ford Edsel, in fact more than ten times of a worse failure.   As Obama made clear the Chevy Volt was his car, and he said it would be the car of tomorrow.  Tomorrow came and said Obama was full of it.

The Edsel http://en.wikipedia.org/wiki/Edsel averaged over 55,000 cars a year in its two full years of production and the government did not subsidize it at all.  Ford lost $350 million in 1960 dollars, or the equivalent of $2,800,000,000 in 2015 dollars, on the venture.  The Chevy Volt in 2014 sold less than 19,000 units, even though the price was reduced by $250,000 to $40,000 with all the government subsidies, or money coercively taken from people that did not buy it.

If Ford would have received $250,000 of subsides per Edsel (in 2015 dollars) it would have been the most popular car of all time, as customers would have been paid about $220,000 per Edsel they bought.  So anyone that bought five would have paid nothing and put $1.1 million in their bank account in 2015 dollars or $137,500 in 1960 dollars. 

This drives home that Obama’s Volt is by more than ten times the worst car model failure ever.  More info on this and a video follows:

Obama’s Prediction of a Million Electric Cars on Road By 2015 Not Even Close

In his 2011 State of the Union address, President Obama predicted that the U.S. would have “a million electric vehicles on the road by 2015.”

The president backed up his prediction with $2.4 billion in federal grants to companies producing lithium-ion batteries for plug-in cars.

But reality hasn’t even come close.

Despite massive federal spending on electric vehicles, which is expected to total $7.9 billion through 2019, there are currently just 286,390 plug-in vehicles on the nation’s roads today, according to the Electric Drive Transportation Association (EDTA).

That’s 72 percent lower than the million electric vehicles the president predicted four years ago. And with gasoline prices now averaging $2.06 per gallon, the lowest they’ve been since April 2009, that percentage is not likely to change any time soon.

Despite steep discounts, manufacturers’ rebates, federal and state tax credits, and even special utility rates in some areas, plug-in electric vehicles accounted for just 3.5 percent of the more than 16.4 million light vehicles sold in the U.S. in 2014, according to EDTA.

Most of the 118,773 plug-in electric vehicles sold in the U.S. last year were in California, which has one of the strictest emissions standards in the nation, but which also provides state rebates up to $2,500 for all-electric vehicles and $1,500 for gas/electric hybrids, EDTA reported.

With the exception of the all-electric Tesla Model S, which lost market share, total sales of electric plug-in vehicles increased 35 percent last year. But they were eclipsed tenfold by just the three top-selling combustible engine vehicles in America – all pickup trucks – which alone accounted for 1.7 million in sales in 2014.

Ford’s F-Series pickup retained its position as the most popular vehicle in America with 753,851 sold nationwide, according to national sales figures compiled by Good Car Bad Car. Chevrolet’s Silverado pickup came in second with 529,755 sold last year. The Dodge Ram pickup was third with 439,789 vehicles sold last year.

In contrast, the three top-selling electric plug-in models were the Nissan Leaf (30,200 sold), the Chevrolet Volt (18,805 sold) and the Toyota Prius HPV (13,264 sold). By this time, General Motors was supposed to be selling 120,000 Volts annually and Nissan 100,000 plug-in Leafs, according to a 2011 DOE report.

The higher initial cost of an all-electric vehicle is one reason they are so unattractive to consumers.

The Associated Press calculated that even with a 16 percent sticker price discount and a $7,500 federal tax credit, “it would take five years to pay off the difference in price” between an electric Ford Focus and the popular gas-powered model.

The other major obstacle is driving range. The all-electric Focus has a maximum driving range of just 76 miles on a full battery and few electric cars can go more than a hundred miles before needing to be recharged. Read More: http://www.cnsnews.com/news/article/barbara-hollingsworth/obama-s-prediction-million-electric-cars-road-2015-72

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