Chevy Volt costing taxpayers up to $250K apiece

Chevy Volt costing taxpayers up to $250K apiece

‘This might be the most government-supported car since the Trabant,’ says analyst.

“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,” says journalist Tom Gantert.

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.

See entire article:
http://www.michigancapitolconfidential.com/16192

Thanks to Benjamin Napier for this link

 

 

 

 

 

 

 

 


7 thoughts on “Chevy Volt costing taxpayers up to $250K apiece”

  1. The $250,000 figure has been completely debunked – they are massively subsidized, but no where NEAR $250,000 per vehicle. This figure was “derived” by assuming the 6,000 volts sold last year would absorb all the subsidies. This is silly; and ONLY makes sense if NO MORE Volts are made and sold.

    http://green.autoblog.com/2011/12/26/bad-math-makes-claim-that-each-volt-cost-taxpayers-250-000-go-v/

    http://www.thestreet.com/story/11354404/1/setting-it-straight-chevy-volt-vs-the-government.html

    • No more volts should be made or sold.
      Whether the subsidy is $250,000 or not, the government shouldn’t try to ram this boondoggle down the throats of the electorate. Ultimately, how much fossil fuel needs to be burned to generate the electricity for these things? Why should my tax dollars go to support someone else’s feel-good, green technology, especially when the typical buyer is earning in or near the upper 1 percent? Complete nonsense and utter stupidity.

  2. Also the major buyers of this turkey are government municipalities that bought the cars with our tax dollars through Obama’s misguided stimulus plan.

  3. It was designed to fail.
    How can you sell 21st century computerized car with 19th century batteries.
    Absolutely ridiculous!

  4. The Chevy Volt is a huge money sink. Regardless of the amount subsidized that fact remains that it is a flop. Through November, 6,142 Volts were sold. If 26 percent were purchased for the Federal Governments fleet then that’s 1597 being bought by the FED. The EPA official all-electric range is 35 miles. It gets 44 mpg in gasoline-only mode. They would have done better to save the batteries and make a gasoline only car. 44 mpg isn’t bad and without the batteries it would have less weight and have even better fuel economy.
    Also, electric vehicles are never going to be the main from of transportation if the current administration insists on undermining our coal power plants.
    See: http://www.moneynews.com/Markets/US-Coal-Plant-Pollution/2011/12/23/id/422014 and http://www.nypost.com/p/news/opinion/opedcolumnists/obama_war_on_coal_zVrf0OxP4RcUfmymSsDcOJ
    We would have to build more Nuclear plants if electric cars were the main stay just to charge them. The windmills just can’t handle it folks.
    So the greens electric car dream is really just that a dream.

  5. I agree you, Jay Curtis – but the $250,000 amount is BOGUS – it serves NO purpose other feeding than FALSE HYSTERIA.

    No manufacturer of ANYTHING should ever get tax payer money, NEVER!!! But, to basically make up numbers ($250,000) is a farce. The TRUTH would be MORE damaging.

Comments are closed.