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.