The Car for Idiots strikes again, this time going down in flames… twice,
Chevrolet Volt Bursts in Flames. Twice
Strangely enough though, sources say that after the initial fire broke and was put out, the Volt caught fire again, this time, apparently, from where the battery is located.
The mystery is deepened by the fact that before the first fire, the Volt was plugged in, recharging over night (as was the Samurai); in the second fire, however, the plug-in hybrid (what was left of it) was not connected to a power source.
It’s not enough that the steering wheel falls off, it also self-combusts.
Ah, for the days when Ralph Nader was talking about vehicles “unsafe at any speed.” Now we have progressed to just plain unsafe.
Publius Forum has the The GM WeeKann, soon to be unveiled.
Meanwhile, the government is having a fire sale on GM,
U.S. Hurries to Sell GM Stake
A sale within the next several months would almost certainly mean U.S. taxpayers will take a loss on their $50 billion rescue of the Detroit auto maker in 2009.
To break even, the U.S. Treasury would need to sell its remaining stake—about 500 million shares—at $53 apiece. GM closed off 27 cents a share at $29.97 in 4 p.m. trading Monday on the New York Stock Exchange, hitting a new low since its $33-a-share November initial public offering.
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At Monday’s price, and taking into account shares sold during the IPO, taxpayers would lose more than $11 billion on the rescue if the government dumped the rest of its stake now.
h/t Steve
