According to the story, Trump's THREAT of eliminating EV tax credits and other benefits for EVs may have artificially BOOSTED the sales of of EVs prior to his taking office later this month. Basically people who were planning on future buys may have accelerated their purchases to get the tax credits. The article also points out that, if this boost in sales is artificially induced by Trump's thread, that a slump will likely occur in the near future.
Interesting take, but honestly if I was a buyer now that would be might logic. Get while I can. Sort of wish I had picked up a Hyundai Ionic 5 EV when I bought the lovely Mrs_Bob's Toyota Venza. Not unhappy with the Venza, but should could easily do with an Ionic 5, even with its range of only 260-ish miles. Her low mile driving pattern would allow for nightly charging.
www.zerohedge.com
FULL STORY at ZeroHedge above ^^^
Interesting take, but honestly if I was a buyer now that would be might logic. Get while I can. Sort of wish I had picked up a Hyundai Ionic 5 EV when I bought the lovely Mrs_Bob's Toyota Venza. Not unhappy with the Venza, but should could easily do with an Ionic 5, even with its range of only 260-ish miles. Her low mile driving pattern would allow for nightly charging.
EV Sales Up 12% In Q4, Helped By Trump Threat To End Tax Credits | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
FULL STORY at ZeroHedge above ^^^
EV Sales Up 12% In Q4, Helped By Trump Threat To End Tax Credits
At least for the time being, EV sales are still pushing higher.
Helped along by Trump's threat to end EV tax credits, sales of EVs were up 12% in the fourth quarter of 2024, according to a new report from Bloomberg. Forecasts from researcher Cox Automotive put the year's total at 1.3 million EVs sold.
Plug-in vehicles now make up about 8% of the US car market, only slightly more than last year, despite a rise in sales from the prior quarter's 8% growth rate. A strong fourth quarter boosted total car sales, with the annualized 2024 rate hitting 15.9 million, up from 15.5 million in 2023.
Bloomberg writes that this EV growth may not continue into 2025. Only 25% of shoppers are considering an EV, down two points from last year, per JD Power.
Jonathan Smoke, Cox’s chief economist said last month: “Threats and worries” sparked a “sense of urgency to buying. That’s true in overall purchase activity, and it’s also very much true to the EV story.”
Donald Trump plans to dismantle federal EV incentives, including the $7,500 tax credit, calling Biden’s EV policies “insane.” Proposed tariffs on Canada and Mexico could also raise car prices.
Improved interest rates, manufacturer incentives, and post-election confidence have boosted 2024 car sales forecasts, despite earlier setbacks from inflation and a dealership cyberattack. GM led US sales with 2.7 million vehicles, while Stellantis fell to sixth with a 15% decline.