(Reuters) .- It is the end of the line for fiscal credits for electric vehicles in the United States.
A broad fiscal and budget legislation approved by Congress on Thursday means that fiscal credits of $ 7,500 for the purchase or lease of new electric vehicles will end on September 30, as well as the credit of 4,000 dollars for used electric vehicles, which have helped boost sales of ecological vehicles in recent years.
The Electrification Coalition, a group of defense of electric vehicles, said Thursday that “as electric vehicles ensure increasing participation in the global automotive market, it is obvious that the future of transport is electric; this bill gives the role of the United States in that future to China.”
The Congress first approved a tax credit of $ 7,500 for electric vehicles in 2008, which was gradually eliminated after manufacturers reached 200,000 units. The credit was extended in 2022 to cover leased vehicles and the limit was eliminated by manufacturer.
Lee: Tesla deliveries collapse: the electric vehicle manufacturer faces a second year of sales fall
Separately, the United States car manufacturers will obtain significant benefits with the final bill that eliminates sanctions for not complying with the deficits of the corporate average of fuel economy (CAFE). The measure facilitates manufacturers to produce gasoline vehicles.
Dan Levy, a automotive analyst at Barclays, said that the gradual elimination of fiscal credit in less than three months will cause a significant increase in sales of electric vehicles through a “pre-compra”, since some consumers will advance plan planned for later, followed by strong falls in later months.
“We believe that the bill reiterates the deceleration that is coming for the penetration of electric vehicles in the US, since both ‘carrot’ (tax credits/incentives) and the ‘garrote’ (emission regulations) soften,” Levy wrote in a research note.
A study by Harvard University published in March predicted that the elimination of fiscal credits for electric vehicles would reduce the penetration of EVs by 6% by 2030 and save 169,000 million government in fiscal credits for electric vehicles in a decade.
Last year, Stellantis, Chrysler matrix, paid 190.7 million dollars in civil fines for not complying with the EU fuel economy requirements in 2019 and 2020, after paying almost 400 million dollars in sanctions between 2016 and 2019. GM previously paid 128.2 million dollars in sanctions for 2016 and 2017.
In the final bill, the Congress eliminated an annual planned rate of 250 dollars for electric vehicles aimed at financing road repairs, as well as a requirement that the EU postal service sold its fleet of electric vehicles.
Little text and great information in our X (formerly Twitter), follow us!
