If Republicans Kill EV Subsidies, Sales Could Drop 27%
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Last Updated on: 8th January 2025, 02:27 am
I just published on the top-line highlights of a recent Deloitte consumer survey focused on the auto industry, and much of that focused on EV matters. However, as I was looking more closely at one of the charts, I noticed an interesting stat.
It’s just the 5th most popular response, but a full 27% of respondents said that their reason for getting an electric vehicle as their next vehicles was government incentives/subsidies. Yep, over a quarter of consumers indicated that government subsidies/incentives were key to their desire to buy an EV for their next car. What does that mean if those incentives are removed?…
Now, there’s been some chatter from Elon Musk and his followers that Musk just thinks there shouldn’t be any subsidies at all — for fossil fuels as well as for electric cars. But, news flash — fossil fuel subsidies won’t be removed. Also, externalities are still a thing, and those aren’t being corrected for. Removing EV subsidies, on the other hand, should be a widely popular idea in the oil-funded GOP.
Are we going to see EV subsidies removed in 2025 in the US? Will EV sales drop 27% or so if that happens?
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