Volt Tax Credit goes through

[Mr. Wyndham]

Two things:

#1; this is somewhat of a silver-lining to the "bailout plan". But there'll be no political discussion in here.
and
#2; Remember the fuss Toyota made about the Volt possibly getting a bigger tax credit than the Prius? Well....Toyota can stuff it where the sun don't shine!!!

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 signed into law.

The now passed by the House and 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.

The credit will be applied to the first 250,000 plug-in cars sold in the US and will be phased out to 50% for the following two quarters, and 25% for the two quarters after that before ending. The total cost of the credits will be $758 million.

OK maybe its all money Uncle Sam really doesn’t have, but the odds look better now for GM and the Volt to thrive. And your Volt just got significantly cheaper.

Long live the USA, GM, and the Chevy Volt.

See Section 30 D. of the Bill
http://gm-volt.com/2008/10/03/along-...now-7500-less/

:flag2:

[Kyle2k]

Originally Posted by Dragoneye

#2; Remember the fuss Toyota made about the Volt possibly getting a bigger tax credit than the Prius? Well....Toyota can stuff it where the sun don't shine!!!


:flag2:

Tooo bad for yooouu Toyota! hahahahahah

[TAG UR IT]

and we were just talking about the volt today and how badly GM needed it. This is excellent news! It's beginning to look like an even brighter future for the volt (and our wallets)!!!!

[FenwickHockey65]

SUCKS TO BE TOYOTA.

So a Volt will run $40k, minus $7500, $32,500.

In 2003, our Envoy was priced at around $32,000. With GMS, GM Card, and customer loyalty, we got it for just $22k.

If everything works out right...we'll be able to get a Volt for just $22k...very intriguing.

[DGthe3]

Wonder what the Canadian tax credit will be? No way to predict till after our election.

[patriotpa]

Too bad it doesn't look like the prototype...Now it looks like all the other econoboxes.

[nester7929]

Excellent! That 35k price tag just turned into a 27.5k price tag! This will do wonders for GM; a car that makes more than 100mpg and costs less than 30 grand. The Volt may very well save the auto industry. Plus, the more people that drive Volts, the more our consumption goes down and the lower fuel prices will go.

A chicken in every pot and a Volt in every driveway. And a Camaro.

[TheCaptain]

Originally Posted by DGthe3

Wonder what the Canadian tax credit will be? No way to predict till after our election.

I was thinking and hoping for something along the same lines.

[The_Blur]

This makes me very happy.

[Jak]

Yeah, but how can I afford the Camaro and the Volt???

[FenwickHockey65]

Originally Posted by Jak

Yeah, but how can I afford the Camaro and the Volt???

That's my current dilemma. :(

Either buy a Volt and use no gas...or buy a Camaro and go fast.

Either way I'll still beat imports. Prius still uses gas, ricered civics have nothing up against a Camaro.