President Obama is requiring taxpayers to pay off one quarter of the cost of the Volt in order to bring down the price and make it more attractive to buyers who, so far, don’t like it’s high cost and questionable features (like the heater that doesn’t work well).
The Volt still has poor sales, even with the bumped up rebate of $10,000, but it does lead in one area – its cost so far outweigh the economic benefits that it would take 26.6 years to break even. Since Volts have no chance of lasting 26.6 years, even if they don’t go on fire, you will never break even.
Another great Obama investment with taxpayer money! I know it’s not Solyndra or GSA, but do you mind your tax money going to support this bomb?
The only car that does worse in this category is the Ford Fiesta which takes 26.8 years.
Two hybrids, the Prius and Lincoln MKZ and the diesel-powered Volkswagen Jetta TDI will take under 2 years to break even, worth the clean energy gain for most.
Those numbers were compiled by Truecar.com for the NY Times. Those figures are computed on the high cost of gas and the numbers would only come down to six years for a return if gas goes up to $8 a gallon.
I hope President Obama isn’t reading this because then he will do all he can to raise gas prices to $10 a gallon, if only to make the Volt attractive to some buyers.
The electric car is not ready for market but the hybrid is still a good choice.
Read here: NY Times