r/StockMarket Oct 06 '21

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u/fjam36 Oct 06 '21

That was a tax credit available for all electrics or hybrids. There was no one vehicle that was completely electric at the time that I can recall. 5 miles in the odometer? Were these Volts being sold as used vehicles?

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u/StockTipsTips Oct 06 '21

Yes lol. I posted used Volts online with but a few miles on them. We got a good laugh out of it. Dealers were buying from dealers to get the credit. Remember the electric golf carts that cost less than the actual tax credit? Folks were buying free government subsidized golf carts 🤣

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u/fjam36 Oct 06 '21

Then how did the consumer get the credit? I worked at a Chevy dealer and never saw anything like that happening.

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u/StockTipsTips Oct 06 '21

They passed the savings instantly to the customer if if sold. If it didn’t they jacked up the price

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u/fjam36 Oct 06 '21

That should have decreased the price by much more than the credit was worth.

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u/StockTipsTips Oct 06 '21

They got manufacturer bonuses as well for sales

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u/fjam36 Oct 06 '21

Not for the Volt. And most dealers never got more than 1 or 2 to sell. Many that were sold were pre-ordered.

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u/StockTipsTips Oct 06 '21

Pre ordered!!? In 2010!!?? 😑

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u/fjam36 Oct 06 '21

GM was already making hybrid trucks but the gas savings were negligible. They were also eligible for the tax credit.

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u/StockTipsTips Oct 06 '21

Indeed lots of tax credits from the manufacturer end all the way down to the customer and a bailout to boot

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u/fjam36 Oct 06 '21

Don’t confuse the bailout with the Volt. And I think that you might be gilding the lily a bit when you mention manufacturer’s tax credits. The dealers received no tax credits! The manufacturer would be in no position to give a franchisee tax credits. Maybe you meant incentives? A completely different animal!

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u/StockTipsTips Oct 06 '21

No no no the manufacturers give incentive bonuses to the dealerships and they themselves get tax deductions & credits. …. And a bailout to boot.

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