A public analysis by James Hohman of the Mackinac Center for Public Policy reveals each Chevrolet Volt sold so far may have as much as $250,000 in state and federal incentives behind it.
That would make a total of $3 billion for all the Volts sold so far, making it the most government-supported car since East Germany’s Trabant. Hohman analyzed total state and federal assistance offered for the development and production of the Volt, including 18 government deals such as loans, rebates, grants and tax credits. He didn’t include in his analysis the fact that GM is currently 26-percent owned by the federal government. Hohman’s analysis includes government subsidies awarded not only for GM, but also for other companies supplying parts for the Volt.
“It just goes to show there are certain folks that will spend anything to get their vision of what people should do. It’s a glaring example of the failure of central planning trying to force citizens to purchase something they may not want. They should let the free market make those decisions,” Rochester Hills State Representative Tom McMillin was quoted as saying by Michigan Capitol Confidential.
“This might be the most government-supported car since the Trabant,” said analysis author James Hohman, referring to the car produced by the former Communist state of East Germany.