General Motors Company (GM): Is The Automaker Still Taking Taxpayers for a Ride

The already heavily subsidized Volt starts at less than $40,000 before a $7,500 tax credit kicks in. Last year the Congressional Budget Office estimated that the government’s efforts to foist electric vehicles on a public that doesn’t really want them will cost taxpayers $7.5 billion through 2019, including grants of $2.4 billion to lithium-ion-battery makers (you know, like bankrupt A123 Systems and Ener1). So how GM will be able to take that much cost out of building the Volt without eliminating any of its features is anyone’s guess.

Despite generous rebates, ridiculously low leasing offers, and using fleet sales to juice monthly sales numbers the Volt remains rather unpopular among the car-buying public. In the meantime, though, taxpayers can enjoy the ride General Motors Company (NYSE:GM) is taking them on.

The article GM Still Taking Taxpayers for a Ride originally appeared on Fool.com and is written by Rich Duprey.

Motley Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends General Motors and Tesla Motors. The Motley Fool owns shares of Tesla Motors.

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