President Obama's dream car: Government intervention on four wheels

President Barak Obama has now got his dream car, the hybrid car Chevy Volt, produced only after intervention from government and labour union- owned Government Motors.

In one way it reminds us of the German predecessor: the Volkswagen. A car not produced according to market demand, but for dubious ideological targets. However, the new ‘Voltswagen’, on sale for $41,000, costs, when all subsidies are accounted for, about $81,000. Not only is it worlds apart from the original Volkswagen, but its creation signifies a distorted economy: taxpayers funding a vehicle which can only lead to loss and a shortage. In addition, comes the government subsidy of $7,500 for purchasers of the car, a nice addition for ‘upscale urban liberals’, some of Obama's strongest supporters.

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Electric cars taking hold in auto industry

ATLANTA - Volkswagen and other German automakers are investing heavily in electric vehicles and bringing more green autos to dealerships near you soon, industry experts said Thursday.

"It's one of the mega trends," said Karsten Schmidt, chief executive of the U.S. office of global engineering design company Bertrandt AG, about the increasingly key role of electric cars in the auto industry.

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