GM is pushing all its chips in behind the Chevy Vault in order to stave off complete irrelevancy and extinction. GM officials and pundits say the Vault would be worth the sticker price even if the cost of gasoline returns to $4 per gallon. Also, GM said government tax credits of up $7,500 would make this deal one worth investigating at the very least. The sporty-looking sedan is expected to command $40,000 in the marketplace, which is steep for many people, especially African Americans who are seeing their middle-class standings weaken with every day the economic downturn continues.
Furthermore, the unveiling of the Vault, tentatively scheduled for a late 2010 release, would be a roundhouse swing back at arch-nemesis Toyota, which recently overtook GM for title of the world’s largest automobile manufacturer. GM’s shrinking market share, and the subsequent elimination of high-paying, blue-collar jobs by the scores, was a direct and devastating blow to the African American community, particularly in Detroit and the rest of the Midwest.
GM, and the other members of the Big Three — Ford and Chrysler — were the biggest contributors to the expansion of the black middle class than any other industry in the world. At its peak, one in every eight American jobs was in the automotive sector, so the entire nation’s fortunes were intertwined with the Big Three, GM in particular. The success of the Vault would undoubtedly save and or create high-paying domestic jobs.
The Chevy Vault would be the first-ever vehicle to get triple digits in fuel efficiency. The Chevy Vault would also, if their 230-mpg claim holds up, get four times higher fuel efficiency than the popular Toyota Prius, now deemed the most fuel-efficient car sold in the United States. –terry shropshire
