GM (GM) Says It Isn't Losing $49K Per Volt Sold; Costs Spread Across Lifetime of Volume
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General Motors (NYSE: GM) is balking at earlier reports that it is losing about $49,000 on each Chevy Volt electric vehicle sold.
Reuters noted earlier that Volt production costs about $89,000 per vehicle. Given $40,000 price tag, GM is said to lose $49,000 on each unit sold, Reuters said earlier.
According to Reuters, GM says development costs are across lifetime volume not the current number sold.
Shares are 0.4 percent lower Monday, popping up slightly on the headlines.
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Reuters noted earlier that Volt production costs about $89,000 per vehicle. Given $40,000 price tag, GM is said to lose $49,000 on each unit sold, Reuters said earlier.
According to Reuters, GM says development costs are across lifetime volume not the current number sold.
Shares are 0.4 percent lower Monday, popping up slightly on the headlines.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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