2/07/2012

Well, we can see who is benefiting from all those government subsidies for the Chevy Volt: The Wealthy

From AOL Autos:

In order for the Chevy Volt to really be a success, the car needs to be affordable for the masses.

But for now, the car is mostly the province of the wealthy. General Motors, which makes the Volt, said Monday that the average income of Volt buyers is a whopping $175,000 a year. That rarefied space is usually reserved for buyers of German luxury cars.

"The Volt appeals to an affluent, progressive demographic," says Bill Visnic, senior editor for Edmunds.com "It's rare. It's hard to get one. ... It's the same reason that people buy the really rare exotic cars: Because other people can't have one."

GM hopes that the battery technology offered in the Chevy Volt catches on with the public so much that it can scale up production, making hundreds of thousands and driving down the cost of the expensive lithium-ion batteries. The batteries drive the Volt to be a $39,145 to $42,085 car before a $7,500 tax credit, so lower battery costs would make the car a bit more affordable. . . .

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