"EV sales outlook is weakening: With the $7,500 tax credit ending in September, IC Cars projects EV market share in the U.S. could fall from 8% in 2024 to just 4% between 2026-2028, putting heavy pressure on Tesla, GM, Ford, and other automakers. Used EVs undercut new sales: A flood of used EVs, often cheaper than gas-powered cars on the secondary market, is creating additional challenges for companies trying to sell new electric vehicles at higher prices."
"Industry survival hinges on affordability: Experts argue that a $25,000 new EV is essential for long-term viability, but currently only Chinese automakers can meet that price point-and U.S. tariffs prevent them from competing directly. Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.(Sponsor)"
With the $7,500 federal EV tax credit ending in September, IC Cars projects U.S. EV market share could shrink from 8% in 2024 to about 4% during 2026–2028. A significant decline in new EV demand would pressure major automakers including Tesla, GM, Ford, and Rivian. A growing supply of used EVs, often cheaper than comparable gasoline cars on the secondary market, undercuts new-vehicle pricing and sales. Long-term industry viability requires much lower price points—around $25,000 for new EVs—but only Chinese manufacturers currently achieve that level, and existing U.S. tariffs block their direct competition.
Read at 24/7 Wall St.
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