‘This might be the most government-supported car since the Trabant,’ says analyst.
James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy, looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle, says Gantert. “His analysis included 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government.
“GM has estimated they’ve sold 6,000 Volts so far. That would mean each of the 6,000 Volts sold would be subsidized between $50,000 and $250,000, depending on how many government subsidy milestones are realized.
“It’s a glaring example of the failure of central planning trying to force citizens to purchase something they may not want,” said State Representative Tom McMillin, R-Rochester Hills. “They should let the free market make those decisions.”
“This might be the most government-supported car since the Trabant,” said Hohman, referring to the car produced by the former Communist state of East Germany.
According to GM CEO Dan Akerson, the average Volt owner makes $170,000 per year.
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