General Motors is losing as much as $49,000 for every Chevrolet Volt that it sells, according to industry analysts. Incentives to drive customers into showrooms have made it tougher for the auto maker to turn a profit on the plug-in hybrid, which was released to great fanfare two years ago, Reuters reported on Monday. "The Volt is over-engineered and over-priced," said Dennis Virag, president of the Michigan-based Automotive Consulting Group. The cost of production, which can reach $89,000 per car, is difficult to offset due to its low sales and cheap leasing options designed to bring customers into Chevy showrooms. "I don't see how General Motors will ever get its money back on that vehicle," another analyst said. GM acknowledges that the Volt continues to lose money but insists that the car will eventually turn a profit. The auto industry more broadly has had a hard time selling its hybrids, despite the comeback that helped Ford to add another 1,200 jobs at a Detroit plant, according to The Associated Press.
