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
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There’s too much enthusiasm for EV production and not enough caution.
I wonder if they’ll deplete the rare metals needed for years of mass production before the world runs out of crude oil. I predict that EV’s will disappoint like green energy has. The replacement rate of conventional vehicles will plateau well short of the headlines.
The prices are going up because the demand for lithium and other metals needed to make the batteries have shot up and thus the cost of these metals have climbed significantly. Once more the left shows that they have no clue about economics. If all the countries of the west are pushing this green tripe are pushing the sale of EVs prices will necessarily skyrocket but there’s no way to ramp up the mining of these metals, especially lithium.
quelle surprise!, that a vendor would raise prices in anticipation of a government rebate program, especially a program that will not even apply to nearly every EV sold in US market due to not enough domestic manufacturing content.
so instead of a $7500 tax credit, the consumer gets stuck with a $15K price increase.
I have seen some EV perfect for Liberals there from one to two persons driver and Passeneger
FUXK’UM I’m not buying no Brandon mobile!!!!!!!