As EV subsidies dwindle, EV sales follow suit

SalesMoney MattersInflationElectric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

🔋 As EV subsidies dwindle, EV sales follow suit.

In a massive drop, EV sales have dramatically collapsed with only 672,000 units sold in January. Year-over-year, that is only a 3% increase and a nearly 50% drop from December. When subsidies are available, it can make EVs more affordable and appealing to consumers, who may be hesitant to pay a premium price for a new technology. When subsidies are reduced or eliminated, the cost of purchasing an EV can become prohibitive for some consumers, leading to a decrease in demand for these vehicles. Additionally, some consumers may choose to delay their purchase of an EV until subsidies are available again or until the price of the technology comes down.

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Jennifer Joslyn
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