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Colorado buyers of Chevy Volt eligible for $13,500 in tax credits

Colorado residents who purchase or lease a new Chevrolet Volt are eligible for a state tax credit of up to $6,000 in addition to a federal tax credit of up to $7,500 for a total price reduction of as much as $13,500.

Colorado is one of a number of states that is offering a state tax credit in addition to the federal tax credit, which is subject to the customer’s eligibility. For example, Volt customers who purchase a low-emission model of the 2012 Chevrolet Volt, which is standard in California, will qualify for a $1,500 state rebate and will be eligible to drive solo in the state’s carpool lanes. A tool to determine specific state or local electric vehicle tax credits is available here.

The Volt has a total driving range of up to 379 miles, based on EPA estimates. For the first 35 miles, the Volt can drive gas and tailpipe-emissions free using a full charge of electricity stored in its 16-kWh lithium-ion battery. When the Volt’s battery runs low, a gas-powered engine/generator seamlessly operates to extend the driving range another 344 miles on a full tank. Volt owners have travelled more than 10 million miles since the vehicle launched late last year. Roughly two-thirds of those miles were powered by grid electricity, GM says.

Comments

HarveyD

This is one of the way to accelerate the sales of electrified vehicles. The total tax credits of $13.5K will pay for about 100% of the 16 Kwh battery pack and could be adjusted downward when the price of batteries goes down.

Colorado, with a mere $0.22/gal fuel tax could add another $0.085/gal to reach the national (States) average of $0.305/gal. That would pay for most of the program.

The Fed Fuel tax could also be adjusted by an equivalent amount from $0.184/gal to $0.269/gal (or more) to cover the electrified vehicles support program cost.

SJC

This could sell a more Volts compared to last year. Good for Colorado, they are truly putting their money on the line.

ToppaTom

Not so fast.

By my calculations, at this rate I will get $2000 more than the full price of the Volt by late 2013; mid 2014 at the latest.

kelly

GM will raise prices if EV sales significantly improve.

Lucas

This is bad news.

If taxpayers have to artificially prop up a Volt, in order to sell enough to break even, there is a very limited future for it.

Designing and building a big chunk of Iron was a BIG mistake. GM will never break even on this car. Surely someone in the auto building business can read the writing on the wall.

ToppaTom

The wall writing says; "Target governement handouts, never mind a viable product"

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