It’s already been pointed out that GM is losing almost $50,000 per car on the Chevy Volt (see here also) . Now the Congressional Budget Office (CBO) has put out a rather damning report on electric cars in general. I’m not against the idea of electric cars in general, but I am opposed to government subsidies. I also do not believe that the technology is there yet and there is nothing wrong with the combustion engine that has made modern many times more convenient and productive.
From the CBO report,
Because of differences in vehicle design and technology, electric vehicles cost thousands of dollars more to purchase than conventional vehicles of comparable size and performance.
Given current prices for vehicles and fuel, in most cases the existing tax credits do not fully offset the higher lifetime costs of an electric vehicle compared with those of an equivalent conventional vehicle or traditional hybrid.