To better appreciate the scale of the bailout, it is instructive to divide the taxpayer's contribution of $79 billion by the number of vehicles [GM and Chrysler] sell. If the two sell 7.36 million vehicles during 2009 and 2010, the subsidy represents $10,700 per vehicle. That (plus interest forgone) would be the direct taxpayer burden (a) were no further subsidy granted and (b) the firms do not survive beyond 2010.Even if they knocked 10 grand off the price I wouldn't buy one.
Monday, November 16, 2009
You've Already Paid for 1/3rd of Every New GM and Chrysler Car
That's based on this analysis:
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From what I have seen so far of most of the new cars they are producing a lot of JUNK. I am sure I won't be spending any of my money buying one of them, at least not for quite a while.
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