Cobalts: Can’t get enough

By Don Shilling

Dealers say it’s difficult to keep them on lots

Two local dealers scrambled to find Cobalts as their stock dropped to fewer than 10.

The third shift at the Lordstown car plant can’t come soon enough for Chevrolet dealers.

“Cobalts are drying up across the nation,” said Mike Hudock, general manager of Stadium GM Superstore in Salem.

The Cobalt just posted its best May sales yet. So many buyers are after the fuel-efficient small car that the supply at dealers nationwide had slipped to 27 days as of June 1, compared with the industry norm of 60 days.

Sales have been so hot this month that the nationwide average has probably dipped below 20 days, Hudock said.

General Motors announced Monday that it was adding 1,400 workers to the Lordstown plant in order to boost production of the car. A midnight shift will be added Aug. 4.

Locally, dealers are reporting an extremely low supply, and two said they are scrambling to get more.

Hudock had fewer than five Cobalts on his lot Tuesday, but he normally has nearly 70. He was trying to find other dealers willing to sell him extra Cobalts, but hasn’t had any luck.

“Everybody is trying to do the same thing,” he said.

He would have to pay a premium to buy a car from another dealer, but he said he would be willing to do that. His last shipment of 2008 Cobalts is expected to come from the Lordstown plant sometime this month. He has more than 20 cars on order.

Production of the 2009 Cobalt is to begin in July, so dealers are expecting to receive those no later than August.

Barry Gonis, general manager of Spitzer Chevrolet in North Jackson, said his stock of Cobalts dropped to seven Monday. He normally has 40 in stock.

“That was all we sold. It’s Cobalt, Cobalt, Cobalt,” he said.

With his stock close to depleted, Gonis brought in five Cobalts from other Spitzer dealerships. Plus, he has 26 Cobalts on order from the plant.

Mark Fabian, sales manager of Greenwood Chevrolet in Austintown, said his Cobalt inventory was down to about 60. Normally, he has more than 100.

The dealership sold 50 Cobalts in May, but he expects sales to reach between 80 and 100 this month.

Sales are rising this month because GM has increased the incentives on the Cobalt, dealership officials said. Car buyers can choose between a $2,000 rebate or zero percent financing for 60 months.

“I didn’t expect the offer to be that good this month,” Fabian said.

Gonis noted that GM could decide that the car will sell well enough with fewer incentives. “I’m a little nervous about it. I’m telling customers that come in, ‘Let’s take advantage of this now,’” he said.

The Cobalt previously had a $1,000 rebate.

shilling@vindy.com