Tesla Motors, an electric car company located in California, ‘only’ lost $35 million in its 3rd quarter after burning $465 million of taxpayer funds issued by the Obama administration. This month taxpayers ‘only’ lost $9 billion dollars from Government Motors’ IPO, despite perfectly timed hype from Motor Trend naming the government-subsidized Chevy Volt as ‘Car of the Year’ – without a single Volt ever being sold – a vehicle the Obama administration is going to offer $7,500 worth of tax and ‘clean-car’ incentives to bribe consumer purchases.
Taxpayer-Funded Tesla failed for trying to sell its ‘earth-saving’ $92,000 EV that cost $140,000 to make. It is estimated, conservatively, the ‘$33,500′ Chevy Volt will cost $81,000 per unit to produce. Naturally, taxpayers will make up the difference…another affirmation our ‘democracy’ is cleverly being used as a smokescreen for those disseminating their socialist and communist agendas.
(Fox) President Barack Obama’s administration has bought almost a fourth of the Ford Motor Co. and General Motors Co. hybrid vehicles sold since he took office, accelerating federal purchases as consumer demand wanes.
The U.S. General Services Administration, which runs the government fleet, bought at least 14,584 hybrid vehicles in the past two fiscal years, or about 10 percent of 145,473 vehicles the agency purchased in that period, according to sales data obtained by Bloomberg under a Freedom of Information Act request. In fiscal 2008, hybrids accounted for less than 1 percent of government purchases, the data showed.
The government is boosting investment in a technology that has failed to win broad acceptance after more than a decade in the marketplace. Consumer sales of hybrids are headed for their third consecutive yearly decline. Government agencies and businesses have said they also will purchase all-electric models being introduced by automakers including GM.
“At some point, the reality is that for this technology to be accepted, it needs to be done without a government crutch,” said Jeff Schuster, director of forecasting at J.D. Power & Associates in Troy, Michigan.