{"id":12853,"date":"2012-01-01T12:41:40","date_gmt":"2012-01-01T17:41:40","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=12853"},"modified":"2012-11-14T11:03:16","modified_gmt":"2012-11-14T16:03:16","slug":"bargain-hunting-pay-only-103000-for-a-car-costing-2-2-million","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2012\/01\/01\/bargain-hunting-pay-only-103000-for-a-car-costing-2-2-million\/","title":{"rendered":"Bargain hunting: pay only $103,000 for a car costing $2.2 million"},"content":{"rendered":"<p>They&#8217;re pretty exclusive: so far they&#8217;ve only made <a href=\"http:\/\/wattsupwiththat.com\/2012\/01\/01\/bad-electric-karma\/\" target=\"_blank\">239 of them<\/a>, and they start at $103,000 per unit. They have, however, taken on a bit of US federal government funding:<\/p>\n<blockquote>\n<p>It\u2019s another example of USA tax dollars at work &mdash; in Finland:<\/p>\n<p>From <a href=\"http:\/\/abcnews.go.com\/Blotter\/car-company-us-loan-builds-cars-finland\/story?id=14770875#.TwCaJ_Jkidm\" target=\"_blank\">ABC News, Oct 20th, 2011<\/a>:<\/p>\n<ul>\n<p><em>With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.<\/p>\n<p>Vice President Joseph Biden heralded the Energy Department\u2019s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company\u2019s manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.<\/em><\/p>\n<\/ul>\n<p><strong>Let\u2019s do the math.<\/strong><\/p>\n<p>239 cars produced for 2012 model year.<\/p>\n<p>$529,000,000 USD in Government loans<\/p>\n<p>That works out to $2,213,389 (2.2 million) per car.<\/p>\n<p>Selling price $103,000 USD, that leaves only $2,110,389 in taxpayer funded overhead per vehicle. And, they\u2019ve only sold 50 so far.<\/p>\n<p>Such a deal.<\/p>\n<p>Of course, when your promotion strategy revolves around a sitcom based on Charlie Sheen, such things are bound to happen<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>They&#8217;re pretty exclusive: so far they&#8217;ve only made 239 of them, and they start at $103,000 per unit. They have, however, taken on a bit of US federal government funding: It\u2019s another example of USA tax dollars at work &mdash; in Finland: From ABC News, Oct 20th, 2011: With the approval of the Obama administration, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,65,84,15],"tags":[640,158,111,727,603,859],"class_list":["post-12853","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","category-government","category-technology","tag-alternativeenergy","tag-barackobama","tag-cars","tag-cronycapitalism","tag-finland","tag-manufacturing"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-3lj","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/12853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=12853"}],"version-history":[{"count":4,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/12853\/revisions"}],"predecessor-version":[{"id":17766,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/12853\/revisions\/17766"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=12853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=12853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=12853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}