Aug 21, 2011

Chevy VOLT sales die... after costing tax payers million$

While Chevy VOLT sales continue to die (MSNBC) with bleak sales forecast (YAHOO)... tax payers are stuck with the bill.
The Chevy Volt has only sold about 3,200 units thus far...Nevertheless, Government Motors is ramping up for more Volt production.  According to Yahoo Auto news, GM is forecasting “sales of around 16,000 for the year as a whole, with 40,000 sold by 2012.

The problem is said to be the price of the Volt, which is a massive understatement, because everyone buying a Volt is understating the price.  No one purchasing a Volt has the faintest clue what it really costs, because of all the taxpayer subsidies plowed into production, and hefty rebates offered at the point of sale.  $400 million in federal subsidies were extracted from the taxpayer to fund Volt production, and buyers have enjoyed a $7500 federal tax credit.

That means each of the 3200 Volts sold thus far has rolled out of the lot with $132,500 in taxpayer subsidies stuffed in the glove compartment.  They sticker at $41,000, so that means each Volt sold thus far actually costs $173,500, with only $33,500 paid by the actual purchaser.