Carmakers Jack Up Prices, Cancels Out Dems’ $7,500 EV Tax Credit

electric car charger

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:

Read rest at Summit News

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