Chevy Volt Costs Taxpayers Hundreds of Thousands of Dollars Per Car

By Seton Motley
GM sells 1760 Volts in June, double from 2011

Wow. Huge number.

The Press also fails to put this pathetic tally in perspective.

The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery. Which makes it $17,000, rather than the Volt’s $41,000.

Chevy in June sold 18,983 Cruzes - more than ten times the number of Volts. And that’s down 1/3 from last June’s 24,648.

But that feeble Volt tally has the Press all revved up.

According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped.

Get that? GM makes “little or no profit” on the Volt.

Add $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt.

Speaking of those “tax breaks for purchasers and other consumer incentives” - as of November of last year that tally all by itself was $250,000 per Volt sold.

And that excruciating pain is ongoing. Again, a Volt sold makes GM no money - but costs We the Taxpayers a $7,500 bribe - I mean “incentive.” Oh - and President Obama wants to jack that bribe to $10,000 per.

I guess it’s good news after all that Volt sales remain so anemic.

And with GM’s new 60-day return policy, it looks like you can buy a Volt and cash the $7,500 bribe check. Then return the Volt - and keep the $7,500 bribe cash. How’s that for Taxpayer coin stewardship?

Keep all of this outrageousness in mind when next the Jurassic Press joins with the Obama Administration in celebrating the Chevy Volt.

http://newsbusters.org/blogs/seton-...es-gm-no-money-costs-taxpayers-hundreds-thous

 

You've got it all wrong pspr. This is an investment made out of necessity to save the poow yittle planet. If we won't 'conform' on our own I guess Congress will just have to pass a bill making it mandatory to drive a 'green' auto, or pay a penalty. then our Chief Justice can call it a tax and declare it Constitutional.

Mittens is a truly terrible campaigner, he should be out there comparing his primo investment record at Bain to Solyndra and the Chevy Volt. that should pretty clearly define the difference between the two candidates, at least when it comes to the value of opm. i think everyone would respect that.. well except those living off of federal handouts.

 

I keep wondering why Obama has all this support - then I remember that 49% don't have any tax liability and like it that way.

 

I mentioned recently that my current gf is an Obama supporter and has already been brainwashed to hate Romney like he was the anti-Christ.

She agrees the country is screwed. She agrees that the economy is heading downward. She simply refuses to see that Obama is at fault and blames it all on... yep... George W. Bush. She thinks my move for the exits is unpatriotic.

She isn't degreed but she is pretty damned smart in the common sense department. Hearing her say Obama is a great president is depressing and I have almost no hope for this country. I'll vote ABO but I have serious doubts about the election outcome. The masses hate republicans and isn't much that can be done about it.

I know, some will say I should dump her but you can't go around choosing friends and women based on politics, right?

The Volt is a monument to poor engineering, dishonest marketing and inept government intervention. Those who buy a Volt are stupid and liberal if those are even distinct attributes.

 

You know what your are going to have to do about your GF, don't you! That's not a question.