IBD: Gov’t Motors Catches Fire — Literally

“President Obama’s electric car vision is off to a hot start. First the heavily subsidized Chevy Volt started catching fire. Then government-backed Fisker Automotive had to recall all its cars due to a fire hazard.”

Investor’s Business Daily editorializes,

… Although it once promised to be profitably churning out 1,200 cars a month by now, Fisker has so far sold only about 240 — at a price almost 14% higher than promised. And the more moderately priced electric sedan it says it will build in an abandoned Delaware plant is still nowhere to be seen…

As Edmunds.com CEO Jeremy Anwyl noted recently, the last round of CAFE hikes in the ’70s “resulted in a generation of what were often truly awful vehicles.”

In other words, it’s an industrial policy trifecta — government-mandated cars that cost more, are less reliable and kill more people.

Read the IBD editorial.