What Killing EV Tax Credits in the US Means for the Electric Vehicle Market

Bloomberg

Jul 04, 2025

Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers. President Donald Trump exits a Tesla at a White House ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1151537815"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1151537815\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1151537815?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-07-04 10:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1151537815","market":"us","top_or_hot":-1,"title":"What Killing EV Tax Credits in the US Means for the Electric Vehicle Market","media":"Bloomberg","content":"<div>\n<p>Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers. President Donald Trump exits a Tesla at a White House ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2025-07-03/what-killing-tax-credits-means-for-the-electric-vehicle-market\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Killing EV Tax Credits in the US Means for the Electric Vehicle Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Killing EV Tax Credits in the US Means for the Electric Vehicle Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-07-04 10:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2025-07-03/what-killing-tax-credits-means-for-the-electric-vehicle-market><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers. President Donald Trump exits a Tesla at a White House ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2025-07-03/what-killing-tax-credits-means-for-the-electric-vehicle-market\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GM","symbol_name":"通用汽车","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2025-07-03/what-killing-tax-credits-means-for-the-electric-vehicle-market","article_id":"1151537815","we_media_id":null,"thumbnails":[],"rights":{"source":"lsy1584095487587","url":"https://www.bloomberg.com/news/articles/2025-07-03/what-killing-tax-credits-means-for-the-electric-vehicle-market","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1151537815","pubTimestamp":1751596200,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers.","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GM":"通用汽车","F":"福特汽车","LCID":"Lucid Group Inc","STLA":"Stellantis NV","TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc."},"translate_title":"取消美国电动汽车税收抵免对电动汽车市场意味着什么","themeId":"b5353b6927599ce78f5b97df153fdecf","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STLA":1.1,"TSLA":1.1,"GM":1.1,"F":1.1,"LCID":1.1,"RIVN":1.1},"content_text":"Sales are likely to dip below forecasts but not completely bottom out thanks to an array of new models and incentives from states and dealers. President Donald Trump exits a Tesla at a White House event in March.The Trump administration’s plan to scrap federal incentives for electric vehicles will be a major speed bump for battery-powered transportation in the US, but not a brick wall, according to forecasts.On Thursday, Republicans in the US House sent a bill to President Donald Trump’s desk that kills tax credits of up to $7,500 for EV customers that were part of the 2022 Inflation Reduction Act.The White House has said former President Joe Biden’s initiative “promised much but delivered nothing.” However, the tax credits helped fuel an EV market far more robust and affordable than drivers enjoyed before the rebates kicked in two and a half years ago. Repealing them, along with a flurry of other anti-EV policies put in place or being pursued by the Trump administration, will put a serious dent in sales.US adoption is set to trail the global average through 2040 and will knock the nation out of the top three EV markets, according to a recent BloombergNEF report. Last year’s version of the report had the country boasting higher-than-average sales starting in 2029.Still, Elaine Buckberg, a former General Motors economist now at Harvard University’s Salata Institute for Climate and Sustainability, estimates that even with federal tax cuts disappearing, some 37% of new cars bought in 2030 will be electric. That’s down from a forecast of 48% if the current incentives remained. The factors propping up some of the demand are fairly straightforward: Electric cars are far better and cheaper than they used to be, and there are many more models to choose from.“In the most likely scenario, you end up about two years behind on adoption,” Buckberg said. ”I think [EVs] will be more resilient than people are thinking.”The average price US drivers pay for an EV has ticked slightly lower in the IRA era, from $64,700 in January 2023 to $59,900 in April, a 7.4% decline without adjusting for inflation, according to Edmunds.com. However, the range of options has widened dramatically.When the IRA was passed, there were 34 types of EVs for sale in the US, with just 11 models below the average vehicle price of $47,500. Today, there are twice as many electric models to choose from, and 19 have below-average sticker prices. EV incentives in 17 states can bring the cost down even further for some buyers.“You just have more non-luxury offerings,” Buckberg said. “You’re more likely to find the brand you want, the style you want, the size you want.”Stephanie Valdez Streaty, a director at Cox Automotive, said carmakers and dealers are offering discounts that are often as generous or more so than government incentives. Dealer incentives on a Nissan Leaf, she said, mean “you can get that vehicle for less than $20,000” in some cases.BNEF expects US EVs will be as cheap or cheaper than gas-powered iterations by roughly 2028 (Goldman Sachs estimates that rubicon could be crossed even sooner).There's evidence that a majority of Americans are at least electric-curious. Nearly 60% of US vehicle shoppers are “very” or “somewhat” likely to purchase an EV, according to a May JD Power survey — levels unchanged from a year ago. What's more, concerns about purchase price and cost of ownership have declined over the past 12 months.Still, the loss of federal incentives will hit the lower end of the market particularly hard. “The people who have the means to go buy a Rivian or a Lucid are still going to go do that,” said Ingrid Malmgren, the senior policy director at advocacy group Plug In America. “The impact, like so much of the rest of this bill, is inordinately going to be paid for by lower-income Americans.”Rolling back EV tax credits is also only part of how the Trump administration is favoring internal combustion models. It has frozen a $5 billion federal plan to build charging stations, primarily along rural interstate corridors and in low-income communities. The White House has also promised to lower regulations on tailpipe emissions and moved to block a California policy to ban gasoline-powered car sales by 2035.Factoring in all of these policy shifts will slow EVs’ momentum even further than the IRA cuts: BNEF forecasts that just 27% of the US market to be electric by 2030, down from the 48% share it estimated a year ago, and Buckberg expects a similar slowdown.Outside the US, however, EVs remain on a tear thanks to a drop in battery prices and a wave of low-price models rolling out of Chinese factories. BNEF expects one in four new cars sold this year — some 22 million cars and trucks — to come with a plug, a 25% increase over 2024. Two-thirds of those sales will be in China.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}