The end of US tax credits for buying electric vehicles has changed the market in ways that are still unfolding.
I spoke this week with people closely monitoring the auto industry to get a sense of what’s next. They said the loss of federal incentives is likely to dampen shoppers’ enthusiasm, but the upcoming arrival of several dozen new or redesigned models could help fuel a comeback.
“I think the dust needs to settle for everyone to figure out what’s going to happen near term,” said Stephanie Valdez Streaty, director of industry insights for Cox Automotive.
This is an important topic that will certainly impact the EV market moving forward. It will be interesting to see how manufacturers and consumers adapt to these changes. Thank you for bringing attention to this issue!
You’re absolutely right; the end of tax credits will have a significant impact. It will be interesting to see how manufacturers adapt their pricing strategies and whether new incentives might emerge at the state or local level to encourage EV adoption.