DEARBORN / LONDON (IT BOLTWISE) – The elimination of the electric car premium in the USA has led to a significant decline in sales of electric vehicles. Manufacturers such as Ford and Hyundai, which are recording a significant drop in sales, are particularly affected. Experts expect that market leader Tesla will also face challenges in the coming months.
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The abolition of the electric car premium in the USA has led to a noticeable decline in sales of electric vehicles. The automobile manufacturer Ford is particularly affected, with sales falling by a quarter to around 4,700 vehicles in October. In contrast, sales of vehicles with combustion engines increased by 3.4 percent to just under 153,400 units. This development shows how heavily the demand for electric vehicles depends on government subsidies.
The decision to phase out the $7,500 tax credit for the purchase of an electric car was made by the Donald Trump administration. This measure not only affected Ford, but also other manufacturers such as Hyundai and Kia. Hyundai reported a 63 percent drop in sales of the Ioniq 5 model, while sales of the Kia EV9 fell by almost two-thirds. These numbers highlight the challenges facing the industry.
Experts assume that Tesla, the market leader in the field of electric vehicles, will also have to expect a decline in sales figures in the coming months. Although Tesla posted record deliveries last quarter, the end of subsidies is expected to have an impact here too. Tesla only publishes its sales figures quarterly, which makes it difficult to accurately assess the situation.
The development raises questions about the future of electric mobility in the USA. Without government support, the transition to more environmentally friendly vehicles could stall. This could also impact investments in electric vehicle infrastructure, which is critical to the long-term success of the technology. The automotive industry is faced with the challenge of creating alternative incentives to stabilize demand for electric vehicles.
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