Times are tough. Industries continue to struggle. Housing continues to be a point of contention as declines continue to be reported almost daily. The US auto industry is hurting as well, sales continue to slide and profits continue to erode, where and when does it stop.
Last week I posed the question of what would you drive if German cars weren’t available, and responses ranged from Ferrari, to Lexus, and even Cadillac, particularly the CTS.
What if buyers were rewarded for buying a domestic car? Currently tax breaks are available to buyers of Hybrids, and for certain businesses the tax incentives make buying vehicles like the Hummer almost a no brainer.
What if a tax incentive existed that rewarded people who bought domestic. For the purpose of the discussion, we’ll define domestic as Ford, GM and Chrysler along with their sub brands which are made here in the USA.
Would you take a serious look at a domestic product if such a tax incentive existed? Would that tax incentive be enough to have you darken the door way of a domestic maker and consider their product?
Take for example the Chevrolet Malibu, not only is it a good looking car, but the build quality and features match those of Honda and Toyota making it a competitive car. The fact it is a Chevrolet is probably the biggest drawback given the years of crap pumped out by GM.
The Cadillac CTS is another great example of a car that competes with the BMW 5-Series in size, but the BMW 3-Series in price. Interior wise, the Cadillac beats the BMW 5-Series hands down both in layout and quality of materials.
Would a tax break for purchasing the Cadillac over the BMW, or the Malibu over the Camry or Accord be enough incentive to get people in the door to drive and discover these or other domestic vehicles.
I am not a big fan of taxes, and I am certainly not proposing this as a way to “bail out” the US automakers. What I am a fan of is an opportunity to be essentially handed back our own money via any and every tax break or incentive available.
So I ask you…
Should buyers of Domestic Cars get a Tax Incentive???