UK cutting EV subsides, is the US next?
A big draw to buying an EV, other than going green and helping the planet, is the ability to take advantage of available tax rebates and subsidies, which get you a lower final price on your EV purchase. However, in the UK, studies show that these subsidies are not having the desired effect.
For the last two years, buyers of electric vehicles in the UK were eligible for ~$8,000 per-car subsidies. But with the prices of electric cars being so high, most families still found them to be too expensive. The subsidies only seemed to be 'subsidizing second cars for affluent households.'
The UK plans to reduce, then phase out tax payer funded subsidies, that were initially meant to help boost sales of electric vehicles and reduce drivers reliance on fuel. Research suggests that this eventual scrapping of the subsidy will be a major blow to EV manufacturers.
This is after only 2 years. How long before budget strapped federal and state governments here in the US come to this same conclusion? How will EV sales be affected, when buyers are no longer being enticed by a $10k discount on the purchase price? Would this change your mind if you were going to by an EV?
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