General Motors Co., which loses money on every Chevrolet Volt it sells, wants to cut as much as $10,000 per car from the model’s production cost to make the next generation of the plug-in hybrid affordable and profitable, Chief Executive Officer Dan Akerson said.
Sheila Cockrel remembers one early sign of Detroit’s decline: The retailer J.L. Hudson’s turned off the lights on floor after empty floor as shoppers abandoned the world’s tallest department store for new suburban malls.
Part of $142 million in U.S. Energy Department grant money given to a South Korean battery maker paid Michigan factory workers as they spent hours playing board games and watching movies, according to an agency report.
General Motors Co.’s Chevrolet Volt missed its U.S. sales target of 10,000 cars in 2011, the company said. Chevy dealers sold 1,529 of the plug-in hybrids last month, leaving the brand 2,329 shy of its goal.