Remember when Barack Obama turned up to celebrate Chevy’s Car of the Future? After using taxpayer money to bail out GM, Obama couldn’t wait to become the celebrity endorser of the new, innovative electric boondoggle-mobiles known as the Volt and the Cruze.
In addition to posing behind the wheel of the Volt, Barry even autographed one of the newly created vehicles with the inscription “The Car of the Future! – Barack Obama.”
He was so proud of his foray into automotive manufacturing, wasn’t he? In fact, he bragged that as soon as he left office, he was going to buy one.
Yeah. He didn’t.
Problem is, he wasn’t alone. Apparently nobody was particularly interested in Obama’s Car of the Future.
And as a result, Chevrolet announced that in 2019, they will no longer be manufacturing this modern-day Edsel.
In fact, Chevy should have named these Obama-promoted electric cars “The Legacy.” Because, much like the rest of Obama’s so-called “legacy,” it will disappear as if it was never here.
Now, anybody who actually understands the Free Market Economy would know that this boondoggle wasn’t going to work.
The Federal Government using subsidies to prop up a private sector business always fails because subsidies cannot alter the reality of supply and demand.
At the end of the day, folks don’t buy things they don’t want — no matter how much Barack Obama promotes it using our tax dollars.
So in a way, as terrible as it is that GM may end up laying people off because of this, it is hardly surprising.
As John Carney at Breitbart
Both cars reflected the policies of the Obama administration but never really caught on with the car-buying public. They initially enjoyed a brief bout of enthusiasm from consumers but this was short-lived. Particularly after the price of oil fell dramatically, American consumers moved on to larger vehicles such as SUVs.
The failure of both the Volt and the Cruze is instructive. The Volt was a very high-priced car that was heavily subsidized by government policies, both federal and state, favoring electric vehicles. Many thought its high-price tag doomed it, especially since the gas-powered Cruze was a very similar car at a lower price point. But neither achieved the expected sales. These were cars Americans did not want.
So in addition to be a crappy commander-in-chief, a terrible President and an ignoramus when it comes to health care, Barack Obama also proved that he is no Lee Iacocca.
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