Read here. Why is GM producing an ultra-expensive electric vehicle (an engineering marvel) that lacks a big market and is essentially a sales flop? Did we say massive taxpayer subsidies that guarantee profits for GM, yet?
Thanks, Obama! Just what the average American needs during an economic depression - a green "Edsel" by GM.
"This is so obvious that you’d think it might have also occurred to the people running GM. It probably did – but the reason it doesn’t matter to them is that the Volt (like the Tesla) is a taxpayer-funded money machine for GM. Even if they never sell enough cars to make an honest profit, there’s already been a huge profit to GM in the form of massive federal subsidies and of course, the massive bailout of GM itself back in 2008...Why not throw money at the electric car boondoggle? After all, it’s not GM’s money...we have a billion-dollar electric car boondoggle. And not only won’t they (GM and Tesla) take the hint and quit, they’ll keep at it – demanding more tax dollars, more subsidies, more rebates to “encourage” sales of these otherwise unsalable electric Edsels."
Previous electric-auto postings.
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