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Demand Shrinking for Subsidized Electric Cars

Posted by Steve Markowitz on September 25, 2012

This story was sent in by reader Left-Coast Henry, who happens to be on the Right side of Conservative/Libertarian politics.

Aol Autos posted the ongoing saga of the US government’s failed intervention into the automobile market.  Here are some related occurrences of this week published in the article:

  • The Congressional Budget Office (CBO) concluded that the governmental rebates (including for example $7,500 for each Chevy Volt sold) and other subsidies of electric cars were wasted since those who purchase electric vehicles would have done so without the subsidies.  According to the CBO, by the year 2019 these costs will exceed $7.5 billion.
  • Toyota announced it has eliminated plan plans to market an all-electric car because of lack of demand.
  • Tesla decreased this year’s revenue projections because of production problems with its Model S.
  • Consumer Reports just reported that the Fisker Karma is “plagued with flaws.”
  • 2012 Nissan Leaf sales are down over 31% compared to the same period in 2011.

Politicians on both sides of the political aisle, but especially those on the Left, use redistribution of the People’s assets through taxation to further their pet projects.  This grotesque abomination of the Constitution includes crony capitalism such as the green energy field.  The only way to put an end to this corruptive practice is to limit the amount of money going to Washington and eliminate Washington’s ability to deficit spend.

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