U.S. government will buy $7,500 of your Chevy Volt
No one has been happy to see the price point of the Chevrolet Volt continue to rise. Initially engineers were pleased to hear that I'd pay as much as $30,000 for the car. Now GM is projecting a cost closer to $40k.
That might all change thanks to a bill passed Friday (amid a bunch of other good news for car companies). The Bill gives a tax credit to buyers of plug-in vehicles. Each plug-in automatically gets a $2,500 cut, then you get an additional $417 per kwh for batteries greater than 4 kwh. That works out to $7,500 per Volt, which could push the base price below $30k.
The tax credit will only apply to the first 250,000 plug-ins sold, and will be phased out over the course of the following fiscal year. In the end, it will cost the federal government about $750 million.
So get ready to buy your plug-ins folks! The price just dropped more than the cost of my current car!
Via GM-Volt
