There goes my SLATE pickup truck.
Federal EV tax credit set to end completely September 30th
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Energy is priced on the margin, and given the US has not expanded the grid or production capacity in aggregate, every EV increases the price of energy. Electricity rates rise and it affects the energy cost for everyone's home and business, not just transportation.
Meanwhile were awash in fossil fuels.
Personally I don't care, my overall energy costs are a small part of my budget, but the working poor do feel it.
I am not disputing that it is less to charge with electric. But as noted in my original post that the savings will not be what they expect in the future as per the article. And sadly the majority of Americans cannot afford a new electric vehicle. Housing and food and taxes are killing them. I know.....I see it and I am in a pretty affluent area.
When I began in business as a plumbing contractor 40 years ago almost everyone could afford to hire a Pro plumber. I have seen that whittle down dramatically over the years. Customers who hire us are well to do or have their credit cards maxed out. It is a sad state of affairs for the average "middle class American"
When I began in business as a plumbing contractor 40 years ago almost everyone could afford to hire a Pro plumber. I have seen that whittle down dramatically over the years. Customers who hire us are well to do or have their credit cards maxed out. It is a sad state of affairs for the average "middle class American"
What fuel subsidy?
Got it. I was primarily concerned with the EV market. Other makes EV business will take a hit and are already subsidized by the ICE/PHEV vehicles as you point out.
Regardless, look a the numbers. Teslas are expensive and yet they are top sellers. If they bring lower cost models to market, ICE and PHEV will be challenged from the point of overall cost of ownership. Maintenance is generally cheaper, and, depending on location fuel prices can be a factor.
edyvw
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Sure, but the big thing was this incentive. And fuel in the US is cheap, in most places.
Owen Lucas
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I think for this reason, Elon was actually for the getting rid of the subsidies, at least earlier on. I'm not sure which way he is going now though.
I paid $4.05 for rag today in the Tundra, about $50 for half a tank. Lowest price in a loooooong time!
I'm dumping the Tesla!
Neither is he...
The article never mentions Tesla specifically. In the end it will likely hurt profits of all EV makers in various amounts. I remember when they changed the commercial truck regs - I think it was 2010? The truck manufacturers could not build enough trucks before then, and after for the next couple years it was a ghost town. Many plants closed.
Its also just a law, so they could use it to goose sales this year, then the rebate comes back in on some future law. Of course in a year $7500 might buy you a small cheeseburger, but I digress.
GON
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They are not credits. They are an involuntary liability from every single American taxpayer to a select group of people, made possible by lobbyists from California.
Not to get political, but a person who made a absolute pile of cash on Tesla stock was none other than Nancy Pelosi.
The term tax credit is simply a play on words, it is actually moving the governments financial liabilities from special interests to American taxpayers.
Agreed. It will be interesting to see how the US market and companies responds.
Random thoughts....
Teslas are expensive; a good percentage of their customers do not qualify for the tax credit anyways. In my estimation, this is far more painful for the rest of the US EV market due to poor margins and sales numbers. They don't have much room to breath as it is.
Yes now he realized taking it away is going to hurt, and he's not a happy camper. Oh well, be careful what you wish for.
I’m not saying power is cheap, but gasoline is a much more expensive method of getting around if you’re shopping a similar priced vehicle and I travel quite a bit. My Supercharger use is more than I initially thought it would be, but my home charging offsets that and the Supercharger is still cheaper than gasoline.
So is mine. But my power taxes included is $0.17 per kWh. It’s a lot more expensive per mile for gas.
The tax breaks oil companies get to produce gasoline which is $300-$400 billion a year.
Not to mention the Navy patrolling the Strait of Hormuz... We are talking trillion$
The world runs on oil; what's a poor boy to do?
Exactly. "Subsidising" $50k+ cars is completely ridiculous.
Nearly all subsidies are completely ridiculous, but there’s lots of picking and choosing here.
I’m not for any of them. Nothing like shifting the cost of a product.
Last time a mid year EV credit change was attempted .gov found out the hard way that it was non-enforceable and impossible to implement due to the speed of the then fully staffed IRS.
Considering this IRS is a skeleton crew it’s doubtful they can react this fast and a whole mess of EV credits before and after the deadline will get screwed up creating extreme rage with some.
Amazons infrastructure is almost entirely .gov subsidized and paid for interest free.
Similar for the 80-100 year old oil and gas subsidies
Nearly all strip malls and box stores are subsidized, honestly not sure any building project isn’t subsidized.
AI, Crypto and data centers are getting grants and subsidies, free water rights, up the ying yang as well.
Lots of things that are subsidized that are far worse than the very small EV subsidy
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