Thursday, February 03, 2011

20% of Green car tax credits were bogus

Link
About 20 percent of U.S. tax credits for plug-in electric vehicles and alternative-fuel vehicles were filed in error, according to a government audit.

The credits are important to companies such as General Motors Co. and Nissan Motor Co., which have entered the plug-in market with the $41,000 Chevrolet Volt and the $32,780 Nissan Leaf, respectively. Buyers of those vehicles can claim up to $7,500 from the federal government, and the companies are relying on the credits to be competitive on price with gasoline- based models.