"Welcome to the very last day of the EV tax credit. I'm sorry to be the one to greet you under these circumstances, but since you're here, we might as well talk about what's next: uncertainty. We know that automakers are expecting a downturn in EV sales that could last for months, if not longer. Analysts are looking to find a way to set market expectations."
"The training wheels are officially coming off and the EV market will now need to figure out how to balance on its own wheels or hit the pavement, hard. It's a little insane to think about just how EV sales are expected to have perked up during Q3. A little bit of FOMO has gone a long way, according to industry experts, with Q3 sales anticipated to hit a record high."
"We're about to learn just how much Americans want EVs without the tax credit in place to offset the costand how serious automakers are about meeting their needs with good products at reasonable prices. Welcome back to Critical Materials, your daily roundup for all things electric and tech in the automotive space. Also on deck: demand for wrecked EVs is increasing (yes, really) and Xiaomi just tore down two Model Ys for science. Let's jump in."
Today marks the end of the federal EV tax credit, removing a longstanding incentive that helped build the electric car industry since 2008. Automakers expect a possible downturn in EV sales that could last months. Third-quarter sales spiked as consumers rushed to claim credits, producing record estimates and fueling market uncertainty for Q4. Analysts are attempting to set expectations for demand without the credit. Consumer willingness to buy EVs at full price and automakers' ability to offer attractive models and prices will determine near-term market health. Additional trends include rising demand for wrecked EVs and technical teardowns by companies like Xiaomi.
Read at insideevs.com
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