General Motors (GM -2.23%) has idled production of the Chevrolet Volt because it had difficulty finding people crazy enough to buy the hybrid electric vehicle.
For one thing, the four-door sedan is insanely expensive. With a sticker price of about $41,000, it is pricier than much nicer cars made by Audi, BMW and even GM's sister brand Cadillac.
The car isn't worth the money once the green aura is stripped from it. Reviewers at Edmunds.com and Car and Driver, who otherwise liked the car, both noted the Volt's small backseat and subpar gasoline mileage. Electric vehicles are not practical for many Americans because of the lack of public charging stations.
"Currently, 48 of 50 states have fewer than 10 charging stations, and even California's relative abundance of 422 pales in comparison to its roughly 10,400 gas stations," according to Car and Driver. "In other words, it's going to be some time before charging while at work or out on the town becomes the norm; for now, EVs' batteries will be replenished largely at home."
Consumer Reports had harsh words for the Volt, saying it would be a "tough sell" to average consumers -- even though Volt owners are eligible for a $7,500 tax break. Reports of Volts catching fire scared away consumers, too. Some bought the Toyota Prius, and others acquired more conventional vehicles like the Chevy Cruise, which gets better mileage than the Volt for about half the price.
The world's largest automaker is not ready to throw in the towel on the Volt yet. According to The Wall Street Journal, GM plans a new marketing campaign and will lower the monthly lease payment to $350 from $399. Again, this raises a question of value. Drivers can lease a Mercedes Benz C-Class Sedan, Cadillac CTS Coupe or BMW 128i for similar rates.
The Volt is a niche product that will appeal to consumers who want to show the world they are concerned about the environment and wealthy enough not to be concerned about the vehicle's economic impracticality. But that is a tiny universe. Perhaps future generations will look at the Volt as a watershed development in the auto industry that hastened the demise of the gasoline-powered engine. That day, though, won't be arriving for a while.
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http://money.msn.com/top-stocks/post.aspx?post=75d2f24e-7577-4895-a271-25aad397f529Will Obama be able to find one next year?