Posts Tagged ‘Chevy Volt’

3rd January
written by Sean Noble






Just read the lede of this story:

Each Chevy Volt plug-in hybrid sold so far has cost taxpayers far more than the $7,500 federal tax credit for which each Volt buyer qualifies.

But factor in all state and federal assistance offered for development and production — to not just General (Government) Motors but its Volt-parts suppliers — and a real shock is delivered:

Each Volt sold could cost taxpayers up to $250,000 — or $3 billion total.

This new analysis by James Hohman, assistant director of fiscal policy at Michigan’s Mackinac Center for Public Policy, pegs total per-Volt subsidies at $50,000 minimum. Whether that number skyrockets to $250,000 depends on whether targets needed for some subsidies to kick in are ever reached.

This is among the most clear examples of government “incentives” gone wild.   Taxpayers are out $250,000 PER for a car that consumers pay about $30,000 to drive off the lot.

Talk about a get away car.