Tuesday, November 07, 2017

Electric Car Tax Credit Goes *POOF*! GOOD!!!!

About damn time!

This is a scam--but it's one that favors high-income/high-tax people.  It should go away.

...the auto industry may need new friends after the unveiling of the new tax code proposal.
Though the new code does cut the taxation rate for corporations, it also eliminates the $7,500 tax credit for electric vehicles: a credit that automakers have been relying on to make the vehicles more palatable to every day consumers....

"More palatable" means "the consumers liked the bribe, but not the car."

Here's reality:

...EVs currently make up less than 1% of total sales in the U.S. and that’s in significant measure due to the incentives. Xavier Mosquet, senior partner at the Boston Consulting Group, said that if the incentive disappears so will sales of vehicles like the Tesla Model 3, Chevrolet Bolt and Nissan Leaf....

Basically, EV's are very fancy golf-carts.  Range is improving, but "about 300 miles" is a very long trip indeed if there's no charging station nearby.  Hybrids, which are half-and-half, will get you the range you want, but are not too comfortable.  And they really don't sell well, either.

...The move would actually put U.S. automakers including Tesla, as well as General Motors, Ford and Fiat Chrysler, at a competitive disadvantage with foreign makers whose home markets continue to offer such incentives. ...

Faddle fiddle.  The incentives have nothing to do with "home markets"; that's some BS the reporter regurgitated.

...even with reduced imports, our energy and economic security is threatened by our dependence on a single transportation fuel: oil. According to the U.S. Energy Information Administration, the U.S. spent roughly $123 billion dollars on imported oil in 2016, the group noted....

When the price/benefit ratio favors electric cars, that's what will sell.

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