Posted on 11/12/2015 7:32:17 AM PST by MichCapCon
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.
Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. 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.
The Volt subsidies flow through multiple companies involved in production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits (combination tax breaks and cash subsidies). These are among many of the subsidies and tax credits for the vehicle.
(Excerpt) Read more at michigancapitolconfidential.com ...
You cannot even be surprised at this.
They’re so popular I didn’t even know they were still making them. lol Have’nt seen one in years.
My neighbor has a 2012 Volt. He is asking 22,000. He will settle for 20,000. He paid 50,000 for it. With tax & lic, add another 5,000.
55000 in three years yields 20,000 back.
He could have leased a new Ferrari for 3 years, for the same dough : )
55000 in three years yields 20,000 back.
He could have leased a new Ferrari for 3 years, for the same dough : )
But what would his greenie friends say if they saw him driving a Ferrari? ...:^)
By comparison, Ford sells about 65,000 F-150 pickups every month.
There is no reliable monthly sales data for the Tesla, because the company refuses to release it.
Whoever said it is easy being a leftist wimp?
LOL!
Twenty grand for a used compact car!!??
I just looked up a top of the line, in excellent condition, 2012 Chevy Cruze - $14k.
I am curious to know whether or not your neighbor is a staunch Volt supporter, or if some realities have settled in and soured him.
BTW, a back of the envelope calculation of two charges per day, seven days a week, one being free at his place of work, the other at 12 cents per kwh, with $3 gas as an alternative yields a theoretical maximum fuel savings of $3,600 over three years. That might cover the extra property taxes and insurance rates he paid to own a car priced $20k more than a comparable Cruz...maybe.
It was money well spent as the Democrat Party got a cut of it.
“It was money well spent as the Democrat Party got a cut of it.”
It’s Solyndra with wheels!
Democrats hate loop holes for big businesses unless it fits their cause.
That’s like opening a restaurant.
If you want to lose money, buy a restaurant, or better yet open one. Cars won’t lose you as much as a restaurant, but you will eat well until you have to file BK : )
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