WHAT: GM has started taking orders for the Chevy Volt, its $41,000 hybrid electric car that costs more than a loaded Cadillac and only goes 40 miles between recharges. Each Volt comes with a $7,500 U.S. government rebate and may qualify for a $3,000 rebate in California. But, it will still lose money.
DISBELIEF: When GM marketing chief Joel Ewanick unveiled the high price, he said the Volt was “starting the world on a different path.” Humorists asked if that expensive path is a “Road to Serfdom.” They called the car the “Voltswagen” — a “people’s car” powered by people’s taxes.
WHY IT’S OUTRAGEOUS: The Volt is pure politics. It seats only four, with a battery that sits in the middle of the passengers. It has poor chances of competing successfully in the market and would not even exist without massive government subsidies.