January 5th, 2012:
I found a report done by an analyst covering the auto industry and the report is about what we US tax payers have paid for.
In new analysis from the Mackinac Center, James Hohman discusses how $3 billion in federal and state funding for General Motors’ Chevy Volt, the much acclaimed “green,” plug-in, hybrid electric vehicle, is costing taxpayers $250,000 per car. As noted by Hohman, the Volt “might be the most government-supported car since the Trabant,” the car produced by the former Communist country of East Germany.http://www.michigancapitolconfidential.com/16192
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.
It’s unlikely that all the companies involved in Volt production will ever receive all the $3 billion in incentives, Hohman said, because many of them are linked to meeting various employment and other milestones. But the analysis looks at the total value that has been offered to the Volt in different aspects of production—from the assembly line to the dealerships to the battery manufacturers. Some tax credits and subsidies are offered for periods up to 20 years, though most have a much shorter time frame.
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.
The $3 billion total subsidy figure includes $690.4 million offered by the state of Michigan and $2.3 billion in federal money. That’s enough to purchase 75,222 Volts with a sticker price of $39,828.
Funny how Obama and company have you paying for vehicles that don't even exist. You are subsidizing the same company that put you on buses instead of trains. They did that by giving board seats at GM to counsel members of major cities like LA and San Diego.
My Bit on Buick
If you do decide to buy a new automobile, I hope it's a decision that you have thought about for a while. Just as you may want to think about how short amount of time a few months would be to custom order it direct from the factory. For one thing, you'll save around $1,000.oo alone for not paying the advertising fees,
on the car lot will have attached to it.
Those advertising dollars are why to don't see me or my truck on TV.
And - Oprah never gave way 250 cars; General Motors did.
Those Pesky Germans
July 14, 2008
Oct. 21,'08: I found this thread over at CR4, a place where engineers hang out. I have to say I agree with these guys for the most part. The interesting thing about it is that it clears up a lot of mis-conceptions about the Hydrogen Car. They know of the problems associated with it. Like one thing I didn't realize is the thay tend to leak
the hysrogen. So the storage tank may not stay as full as you left it for one thing. And another thing is that the energy needed to make the hydrogen, can end up polluting more than a car driven on Natural Gas.
There is a post mentioning the percentage factors of the different pollutants that are emitted from Gas, Diesel, -verses- Natural gas.
Check it out
Where Are Al@ CR4 Globalspecl the HydroGen Cars
By the way, I read today Oct. 21 in the WSJ that people in Thailand are scarffing up car that run on natural gas. (Brazil and Pakistan are right behind.) Funny thing about all this is even though Honda offers a natural gas Civic in the US, they only manage to sell a few thousand of then each year.
Get this natural gas prices on the stock market are 47% below their July peak.
And what is it with this: Barrels of oil where up to about $140 per barrel at one point and I saw the price of diesel at $5.30 per gallon. But now that a barrel of oil is running about $70.00 I only see Diesel at $4.69 per gallon. Gee I would think it would drop to around the $2.50-$3.00 rang wouldn't you.
But no way; OPEC is just going to cut production to make it go back up.
See more about this:
@ BBC Oil at 16 month low.
And for those who think we should become independent upon oil from other counties. You don't know what you are talking about, because I did the math. If the US used only US oil, the US would run out of oil in less than three years. So I say buy it up from other countries, as much as we can get at no matter what the price, because in a long run, who ever has oil in the end wins. We
shouldn't even be burning petroleum in are vehicles and we should be saving the oil for plastics and rubber.
What gets me is: Australia doesn't have any oil, however they have natural gas, yet they pay a premium for gas and diesel. But the real troubling thing about it is that they are building ships with big tanks to ship natural gas to other countries. I gotta tell you that there is something wrong with that.
Another thing that is happening, is that Officials from Russia, Iran and Quatar are meeting to discuss establishing an OPEC-style cartel for natural gas. The US as well as energy importing nations in Europe are a little nervous about that idea because the three counties own about 60% of the natural gas reserves. The EU depends heavily on Russian natural gas. Critics on the proposal say "energy supplies have to be sold in a free market."
Smells like trouble to me.
Hybrid tax credit shock
Girls of the Day
Its only Junk
Have you bought a
The truth be told, they can sell you a lemon and treat it as if they leased it to you for $.25 per mile and they will drag the whole process out until the last few days before it goes to a court, (at which they would have to label it as a lemon unless they take it to a state where there is no lemon law.)
And when they finally buy it back (before the court hearing,) they won't even have to label it as a lemon when they put it back on the same car lot you bought it from.
I guess I should post another segment from my book about how that game plays out.
It's as if the auto makers had their hands in on the legislation written into the lemon laws.
Still, the $15.00 it cost to register the van for the lemon law was the best $15.00 I ever spent.
My bit on Belinda Stronach and the Magna International Inc.
heher father Frank Stronach
(from Austria) founded in Canada.
(April 11, 2007)
Girls of the Day
The Other Systems Available
January 4, 2008: I rans across some stuff on Yahoo/Forbes: which
I think is a bunch of hog wash. It's about the five most over priced cars. All it talks about is incentives, and to me, it feels like a ploy just to get a person to go out there thinking they have some advantage car shopping from reading it.
If you want to waste you time reading something drop by the Yahoo/Forbes.com site. (I just had to laugh.)
You may be wondering what I think of all this. Well I never thought Daimler should have been buying Chrysler in the first place. Chrysler was a company which had more employees that Daimler and Chrysler was making more profit per employee.
Therefore Chrysler was the bigger of the two and some how the CEO sold out the company (with $700 million in severance pay.) And any change in the auto industry can only be considered good, because what it has been, is bad.
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Its only Junk