Archive for April, 2009

Effects of Stimulus Bill not be seen until the next two years

Friday, April 24th, 2009

According to the recently concluded conference on the Stimulus Bill, everything pretty much stays the same. There are tax credits added for plug-ins that won’t be out until the next two years or so, but no tax credits are mentioned for the purchase of hybrid vehicles available today.

Otherwise known as the American Recovery and Reinvestment Act of 2009, this stimulus bill is worth $787 billion all in all. Presently, it gives up to $2500 tax credit for buyers of low-speed new electric vehicles. However, this has been criticized as a “pork barrel” for golf carts.

On the plus side, however, it allows new car buyers this year to deduct the local and state taxes paid on their vehicle purchases from their annual federal taxes. While $1.7 billion is allocated to fund this tax deduction, this move received a lukewarm reaction from consumers, probably because they won’t be seeing the figures realized until the end of 2009.


Money Problems Might Keep Converj in Bay

Sunday, April 5th, 2009

The shaky financial situation of General Motors may keep them from delivering the production type Converj concept car.

The Cadillac Converj concept car was unveiled during the recent Detroit Auto Show. The car will be using the same technology used in the plug-in hybrid Volt of the Chevrolet brand.

During an interview, GM executives said that they will build the Converj production version to look exactly the same as the concept car. The company’s major concern is the availability of funds that will build the car.

GM engineers are not worried about the lithium ion battery that will need to power their cars. They said that the batteries will be ready for the 2010 launch of the Vault.

A Converj might have a sticker similar to the range of luxury coupes. If it will be like the Lexus SC or the Cadillac XLR then it will be between $67000 and $86000.