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The end for the Volt?
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Written on: 07 November 2008 [19:52]
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ecoadmin
Administrator
registered since: 20.07.2007
Posts: 517
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DETROIT (Reuters) – General Motors Corp and Ford Motor Co reported far deeper-than-expected quarterly losses on Friday, and said their rate of cash burn was accelerating, as an extended slump in car sales raised questions about the future of the U.S. auto industry. Both companies said they would take aggressive steps to cut their costs even further, after the world's No. 1 automaker, Toyota Motor Corp of Japan, slashed its profit forecast for the year. GM shares tumbled 12 percent as it and Ford said they collectively burned through $14.6 billion in cash in the quarter as they run up bills related to restructuring actions and face a deepening global financial crisis. Chrysler LLC is also burning through cash quickly, sources said. Complete article: http://news.yahoo.com/s/nm/20081107/ts_nm/us_autos Will this be the end of the Volt project? The only way out of this mess is to go leaner in production and come up with innovative, fuel-efficient cars, in other words: VOLT! Good luck. ecocarforum.com - Green Car Network
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