How Trump Could Upend Electric Car Sales

Published On Nov 25, 2024, 5:03 AM

The article discusses how the potential elimination of a $7,500 federal tax credit for electric vehicles (EVs) under the incoming administration of President-elect Donald Trump may lead to a significant drop in electric vehicle sales. Economists estimate a possible 27% decline in sales, equivalent to approximately 317,000 fewer registered electric cars annually. This could set back efforts to promote EV adoption and contribute to ongoing debates about the affordability and competitiveness of electric vehicles compared to traditional gasoline models.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Negative

The potential repeal of the federal tax credit could lead to decreased demand for electric vehicles as consumers find them less affordable, which may negatively impact automakers reliant on EV sales.

CHPTView CHPT chart on TradingView

Positive

In the absence of federal incentives, there may be increased interest in manufacturing and investing in alternative energy solutions such as charging infrastructure, which could benefit companies in that sector.

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