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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...ax-credit-is-passed-chevy-volt-now-7500-less/

 

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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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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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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.
 

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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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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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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'.
 

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Im in your group!
dont count on it, i hope it does sell like crazy, but when the malibu cant get going in sales and on looks alone blows the competition out of the water, i just cant believe cust dont care about american cars. cross your fingers and hope it sells. we can only hope, but GM u screwed yourself and americans dont believe in u or your products---where the nationalism
 

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The natural gas honda civic is in short supply. You need to hire someone to install the "phil" system which is expensive. With a chevy volt all you do is plug it into the wall.
 

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Still expensive even with tax credit

I agree the tax credit helps, but at $40K the car is still too expensive to compete with hybrids like the Prius and the new Insight.

Honestly this frustrates me a lot - don't get me wrong hybrids are ok, but I'd rather avoid the pump altogether. But the cost of purchasing the Volt really can't be made back in a reasonable amount of time.

I did a very simple consumer cost analysis with what little information is available, based mainly on wanting a Volt myself. The numbers are interesting, for anyone interested:

GM Volt - Do the numbers really add up?
 
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