General Motors' (NYSE:GM) Chevy Volt was widely hailed by green-car enthusiasts when it debuted a few years ago -- but it was panned by critics of GM's 2009 "bailout", who saw the Volt program as an expensive boondoggle catering to political interests.
The Volt has never sold in the numbers that GM expected. Yet owners love the car -- the Volt has one of the highest owner-satisfaction ratings of any vehicle.Still, GM has long hoped for wider sales -- and is now taking drastic steps, with a $5,000 price cut for the 2014 version of the Volt.
Does that mean GM is getting desperate, or is some other motivation at work? In this video, Fool.com contributor John Rosevear looks at the likely story behind the Volt's price cut -- and explains why it probably has a lot more to do with Toyota (NYSE:TM) than with politics.