Biden’s Inflation Bill Made $7,500 Electric Vehicle Tax Credits. Ford And GM Just Raised Their Prices By The Same Amount.

Daily Wire ^ | Aug 15, 2022 | Ben Zeisloft

[UnwashedPeasant]

The law of supply and demand.

[Chode]

so they matched the fed giveaway...

[MinorityRepublican]

This bill will damage the so-called “green energy” market by keeping it from potentially reaching economies of scale and settling into being an affordable good for people to consider purchasing.

Henry Ford made sure that everyone including his factory workers could afford a Model T.

If we have to pay 50k for a Tesla, that's not it.

When we could get any ICE car for 20k instead.

Is it really that expensive to mine the rare earth minerals needed to build the battery? If so, not much we can do to lower the price in the short term.

[lightman]

NOT defndomg Bradd-DUNG but for the average SloXoe taxpayer paing 28Z of FGI will be a net savings.

[SaveFerris]

I figured you’d be ......

🤯😱🙀

😜

[Ex gun maker.]

I LOL’ed!
Not a surprise at all, just so typical of “Green” fantasy schemes.

[Ex gun maker.]

Good!
The faster the EV charade fails the better.

[metmom]

Imagine that.

What a coincidence.

[minnesota_bound]

[Roadrunner383]

Most EVs do not qualify for the new $7500 rebate. There are domestic content requirements, and the current EVs have lithium outsourced for the batteries in particular.

Also, income limits are part of the new law.

There are price limits, and higher priced EVs do not qualify. There is a separate rebate for used EVs, but the price has to be below $25K, and there are few used EVs below that price.

People rushing out to get an EV thinking they’ll get $7500 are in for a nice surprise.

[DoughtyOne]

Those credits should no longer exist.

If EVs are going to survive, they have to earn their own way.

Let the market place decide.

[Reaganez]

The Lightning used to qualify for a $7500 tax credit under the old regime.

Under the new bill Lightning will qualify for a $3750 tax credit. Because “critical materials” for the battery cells are processed in China so it is excluded from $3750 of the credit.

GM Hummer EV didn’t qualify beforehand because GM has surpassed 200k EV sales. GM Hummer EV will still not qualify because it passes the $80k price cap for pickups and SUVs in the Manchin IRA bill. There is supposed to be a base Hummer EV for $80k some years into the future but who knows if it ever gets made. For $80k.

[ronnie raygun]

This is ok but the local gas stations, right joe?

[OHPatriot]

Only an absolute MORON couldn’t see this coming.
Somewhere around the early 70’s when Japanese cars were starting to make inroads into American Markets, the Big 4, Ford, GM, Chrysler, and Good old AMC, they ALL cried to congress that the Jap cars were too cheap.

Congress in their infinite STUPIDITY awarded UAW with a, if I recall correctly, a $2k tariff on all imports. Shortly there after the Big 4 raised the prices of their cars by $2k.
YES, History and Stupidity Repeats!!!!

[mewzilla]

Anyone who watched what colleges and unis have done with tuitions since government student loans became a thing will not be surprised.

[Paul R.]

“Some years into the future” that Hummer won’t be $80k. Not even in 2022 dollars.

Unless... we have a several year Depression.

[nascarnation]

True, but how many poor people are purchasing $80 grand vehicles?

[1Old Pro]

I may buy an EV, is there one that costs $7500?

[nascarnation]

Yes, available from Yamaha, EZ Go, and Club Car.

[Vaduz]

Now you know how Biden’s inflation bill works just like every democrat bill that gets passed aka shaft acts.