Volt: Why We're Broke in Exactly One Word

The Chevy Volt might just be the Deal of the Century. No, really:

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.

Who else will sell you a $173,500 car for just $33,500? Only Government Motors, that’s who! Such a deal — it’s like getting Mercedes SL55 AMG for the price of a fully-equipped Camry! Only, instead of getting a luxurious and high-performance convertible with a hand-built V-8 engine generating 493 horsepower and 516 pound-feet of torque, you get a dinky little piece of crap that does 0-to-60 downhill, perhaps. Shoot, I guess at that price you’re not even getting a reliable midsize family sedan with a V-6 and all the options.

This might be the reason Government Motors has sold only 3,200 of the misbegotten things.