Chevy Volt Battery Investigation Scares Away Plenty of Buyers in January (GM)
Up)
General Motors Co. (NYSE: GM) shares are hanging in positive territory Wednesday following a hiccup on January sales numbers issued earlier. One key point stands out...
Though GM reported Chevy sales fell just 1.2 percent for January, the Chevy Volt saw a major drop in demand over the period. Possibly stemming from the battery fire uncovering by the NHTSA, deliveries dropped about 61 percent from 1,529 in December to just 603 units in January.
The U.S. ended its probe into the Volt battery issue earlier in January, saying no issues were found in the Volt or other electric vehicles that poses a safety issue on the road.
Shares of GM have been flat since the statement and are up 1.1 percent Wednesday. For more on GMs January sales, click here.
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Though GM reported Chevy sales fell just 1.2 percent for January, the Chevy Volt saw a major drop in demand over the period. Possibly stemming from the battery fire uncovering by the NHTSA, deliveries dropped about 61 percent from 1,529 in December to just 603 units in January.
The U.S. ended its probe into the Volt battery issue earlier in January, saying no issues were found in the Volt or other electric vehicles that poses a safety issue on the road.
Shares of GM have been flat since the statement and are up 1.1 percent Wednesday. For more on GMs January sales, click here.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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