Chevy runs deep – into your pockets -
After selling a meager 7671 Volts last year (weren’t we promised millions?). Obama is following up that failure by adding more of our tax dollars to the rebate by increasing it from $7500 to $10000. It worked so badly the first time, let’s do it again! This should be a symbol of our administration’s entire budget strategy.
There are other subsidies that were wasted on this car -
“Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it — a total of $3 billion altogether,” according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. This is not counting the cost of bailing out GM itself.
“This might be the most government-supported car since the Trabant,” said Hohman, referring to the car made by the former communist state of East Germany. Actually, the administration’s industrial policy of picking winners and losers with tax dollars is barely distinguishable from the command and control economies of the old Soviet bloc…Read here: Investors.com
GM keeps claiming that they are making huge profits. The only reason GM made money in North America is because the Tsunami in Japan slowed the Japanese car sales. GM is losing money elsewhere or on they are on their way down. Meanwhile GM has not paid us (the taxpayer) back and they are buying VERY expensive commercials.
Remember when they lied to us and said it was an all-electric car? It’s not, it’s a hybrid. It really should NOT be getting a rebate as an electric car.
Wouldn’t it be nice if they just let GM put out cars that people actually want? You can’t incentivize people to buy something they don’t want unless you give it away.
The Volt was the 2011 Motor Trend Car of the Year and it couldn’t even pass California emissions standards. It has burning battery problems and the heater is inadequate.
My articles about the Volt are not really about the Volt of course. Volts represent the government’s policy towards market manipulation. They won’t let the free market work.
I say go with the 1997 Buick Park Avenue (if you can find one after the clunker program). It seats six, the heater works, it has lots of trunk space, they are still on the road after 14 years plus they get a cool 30 mg on the highway. Also, they don’t burn up three weeks after a car crash test.
I would never buy an electric car. Obama stated that our electric costs were going to rise. Gas prices are going crazy. So why would you buy a Volt? You won’t beable to afford the electric or the gas!! It will be a very expensive white elephant in your garage!
I bought a 2011 Mustang V6. I love it and has good gas mileage. (21 round town/29 hwy). AND there was NO bailout!
Well you can certainly tell you are a lie spewing republican just like all the rest!! It is an ” electric” car insofar as u drive it until the battery goes dead and then it is gas. I see that your still upset about the fact that american money was used to save american jobs! I’d bet you shop at walmart and don’t even consider that they use chinese slave labour to make a profit but then again why would you money worshiping self centered people care. Yes the batteries catch fire after an accident – three weeks – but if your not going to follow instructions about diconnecting the battery I guess you would be the same person to smoke a cigarette at a gass spill. You aslso didn’t even get the 1997 park ave mileage correct and I know because I own two of them, they get 33 mpg and sometimes higher if the air is off. Try reality one day!
You obviously work for GM -UAW member. lol
The Volt is a hybrid, and a car no one wants, and we are pouring way too much money into it. If the 1997 gets 33mpg that supports my point even more Keith. Ours got 30mpg.
I do support the American worker and I sure didn’t want any of the workers to lose their jobs. But I believe that GM needed to go through a managed bankruptcy. Stiffing the investors and giving the union priority was not the right thing to do. It’s not the deal investors made.
When I see the UAW joining the crazy OWS in their nutty socialist rallies, I lose all sympathy. Sorry, but half the country agrees with me.
By the way, I go out of my way to buy U.S. made and it is getting harder. Chrysler is now an Italian company and GM makes many of their cars in other countries. I will buy U.S. when I can but it will be a Ford not GM. If GM wants to take the taxpayer money then they will have to deal with the criticism.