Carmakers Jack Up Prices, Cancels Out Dems’ $7,500 EV Tax Credit
Electric car manufacturers have hiked their prices pretty much across the board, effectively and completely canceling out government tax-credit incentives signed into law by Democrats this week.
Under the ‘Inflation Reduction Act’, which economic experts say will not reduce inflation, anyone buying a new EV with a battery that was built in North America is eligible for a $7,500 credit. [bold, links added]
That already discounts most EVs.
Less than a third are eligible.
As for the rest, well they’ve gone up in price by thousands of dollars.
General Motors has hiked the cost of an electric Hummer by $6,250 and Ford has “updated” the cost of its EVs by $6,000 to $8,500.
So much for the green transition.
As we have repeatedly highlighted, EVs cost on average $67,000 and are already completely unaffordable to most Americans.
That hasn’t stopped Biden’s energy minions from touting them as a solution to high gas prices:
Biden Transportation Secretary Pete Buttigieg defends the green energy handouts — a $7,500 giveaway to wealthy Americans for electric vehicles, which have an average cost of $67K — in the Bidenflation Scam. pic.twitter.com/E3UJaOlxJe
— RNC Research (@RNCResearch) August 4, 2022
Biden Energy Secretary Jennifer Granholm insists high gas prices are “a very compelling case” to buy an electric vehicle. pic.twitter.com/pMpLIoXBKR
— RNC Research (@RNCResearch) June 14, 2022
Read rest at Summit News
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