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DETROIT — General Motors said Friday that it is boosting production capacity for its new Chevrolet Volt due to strong public interest in the electric car that goes on sale this year, reported The Associated Press.
GM will now have a production capacity of 45,000 vehicles in 2012, up from previous plans for 30,000 vehicles.
The automaker made the announcement as President Barack Obama toured the Volt production facility in Detroit. The federal government sank $50 billion into GM as part of the broader rescue of the auto industry, giving taxpayers a majority stake in the nation's largest auto company.
The Volt, priced at $41,000, can go 340 miles on a single battery charge, according to GM. The vehicle is powered purely by the battery in the first 40 miles, and then uses a small tank of gasoline to create an additional charge for the remaining 300 miles.
Chevrolet dealers began taking orders this week for the 2011 model.
GM recently raised the number of launch markets for the Volt from three to seven.
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
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Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
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Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
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Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
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Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
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China easily reigns in the segment, but European countries’ adoption rates are growing. The U.S., probably due to market size, has the second biggest EV fleet.
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The full-size pickup segment, which has been dominant in the U.S., ended 11 consecutive weeks of gains with a slight dip last week.
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Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.
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Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
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Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.
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