Reported 1 day ago
If President-elect Donald Trump moves forward with repealing the $7,500 federal tax credit for electric vehicles (EVs), a new report indicates U.S. EV sales could decline by nearly 30%. The credit, part of the Inflation Reduction Act, has significantly boosted EV sales since its introduction in 2022, resulting in a 46% increase in 2023. The report suggests that if the tax credit were removed, EV registrations could fall by 317,000 units, although some experts argue that long-term EV adoption is unlikely to stall despite short-term impacts on the market.
Source: YAHOO