Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

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Thread: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

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    GMI Contributor Premium Member Ming's Avatar
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    Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Along With Wall Street Bailout, Plug-in Car Tax Credit is Passed: Chevy Volt Now $7500 Less
    October 3rd, 2008
    www.gm-volt.com

    GM and the Chevy Volt turned up three “7s” on the Congressional slot machine. First, automakers got the $25 billion in low interest government loans. Second the Wall Street bailout will likely help the beleaguered auto industry. Third, plug-in tax credits have now been passed by both the House and the Senate.

    The now passed by the House 263 to 171, and certain to be signed by Bush $700 Billion Wall Street bailout bill had a few congressional “sweeteners” in it to help get it passed after failing for the first time in the House earlier in the week.

    Sweetest for future Volt buyers is what’s called the Transportation and Domestic Fuel Security Provision.

    This provision provides a tax credit for buyers of plug-in electric vehicles. It provides a base of $2500 plus an additional $417 per kwh for batteries greater than 4 kwh. For the Chevy Volt, that works out to $7500 per car, a number GM had lobbied for.

    SOURCE: http://gm-volt.com/2008/10/03/along-...now-7500-less/


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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    The silver lining for a laissez faire, GM fan!

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Way cool. So now it could be as inexpensive as a Prius, perhaps undercut the PHEV Prius a tad? That would be too cool. The Volt goes 33 miles farther in battery mode and have it be cheaper....that would kill the Prius and make Toyota cry. A lot. Wicked cool.
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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    I'm in the minority of GM fans who believes that the Volt will easily sell on its merits alone.

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    2.8 Liter Turbocharged V6 TimR's Avatar
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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Good stuff.

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    If the foreign Prius got a $2,500 tax credit, the American Volt, which has technology to practically eliminate gasoline consumption for many consumers, should get a $7,500 tax credit.
    Last edited by ericmvest; 10-03-2008 at 02:44 PM.

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by tgagneguam View Post
    I'm in the minority of GM fans who believes that the Volt will easily sell on its merits alone.
    Im in your group!

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    GMI Contributor Premium Member zete's Avatar
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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    This is fantastic. And though I'm not an American, this is excellent news in terms of national security for the US. Plug-ins, especially cars like the Volt with range extenders, are the future and will -- over time -- help remove the need for foreign oil. If GM -- and others, eventually -- can provide cars to the American public that can eliminate the need for 80% of the fuel currently required, it will ensure the US cannot be held ransom to foreign interests. Furthermore, it will remove billions of dollars from being sent abroad for oil.

    The other beauty is that, over time, the US can slowly come to rely on domestic and Canadian oil thereby making it "self sufficient" from a North American point of view.

    $7500 for an ultimate goal of oil independence is cheap. They should offer this incentive forever, or at least until the vast majority of cars are plug-ins and capable of at least 40 miles on electric only.

    Remember, every barrel not imported is $100 (or so) that stays in the US for some other purpose.

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by TimR View Post
    Good stuff.
    Not as good as what we had, or could've had.

    Best: Volt 7500 / Prius PHEV 0

    2ND BEST: Volt 5000 / Prius PHEV 0

    What we got: Volt 7500 / Prius PHEV 2500

    Toyota muscled the bill.
    "From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they're about to do it again."
    "The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
    "If America is circling the drain, Goldman Sachs has found a way to be that drain — " Matt Taibbi

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Sweet!

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    This is fantastic news. Now I might consider it as my next car. That or the Cruze, which ever I like.


    BTW, any word on what the Volt will start at?
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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by AMERICA 123 View Post
    Not as good as what we had, or could've had.

    Best: Volt 7500 / Prius PHEV 0

    2ND BEST: Volt 5000 / Prius PHEV 0

    What we got: Volt 7500 / Prius PHEV 2500

    Toyota muscled the bill.
    But doesn't this give $2500 (or more) to the forthcoming plug-in Vue and other plug-ins from GM?

    I think it's good all around.

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by Ming View Post
    I've never seen this angle of the Volt... I LOVE the sharp crease of the rear bumper at the corner! Very slick! I'm sure it's for aerodynamics, but it looks good too!
    Automotive stories and pictures for the rest of us:

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by Koasterking View Post


    BTW, any word on what the Volt will start at?
    Yeah, now that Congress has approved this, the price GM receives for sure just topped $40,000.00

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    Re: Along With Wall Street Bailout, Plug-in Car $7500 Tax Credit is Passed

    Quote Originally Posted by zete View Post
    But doesn't this give $2500 (or more) to the forthcoming plug-in Vue and other plug-ins from GM?

    I think it's good all around.
    Perhaps.

    I quit following it with all the other.

    Basically the impression I retain is there was quite a bit of jockeying around between 4 - 6/8 kw for the 'start point'.
    "From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they're about to do it again."
    "The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
    "If America is circling the drain, Goldman Sachs has found a way to be that drain — " Matt Taibbi

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