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Incorrect calculations by journalists are responsible for rumours that General Motors was losing almost $50,000 for each Volt sold, says former GM executive Bob Lutz.
Firing back at the reports within a Reuters article, Lutz called the loss estimate as "preposterous''. He should know. Lutz was the guy who led the electric Volt's program.
The range-extender electric sedan is due here in November as the Holden Volt. Lutz, answering Reuters reports in his column in Forbes magazine, says costs were "very roughly'' equal to the price of the car - that is, $US37,000.
He says that Reuters only used figures based on the number of cars sold to date - not amortising the figures over the expected life of the model.
GM last month sold a record 2831 Volts, beating the prior record of 2289 cars in March. In the year to date, GM has sold 13,497 Volts, more than four times the sales of the same period in 2011. Holden will start selling the Volt in November for about $60,000.
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