Electric Car Sales Crash Once The Feds Are No Longer Helping
It only took a month for electric car sales to drop 90 percent after a 15 year old tax credit for electric car buyers expired in Georgia.
The $5,000 subsidy for electric vehicles expired last June and has gutted the electric sector, reducing popular green models like the Chevy Volt to single digit sales across the entire state, reported Watchdog.org. The subsidy is under fire for being a 15-year-long giveaway, rather than a worthwhile incentive.
“I thought the credit turned from an incentive into a virtual entitlement,” Georgia Republican state Rep. Chuck Martin told Watchdog.org.
The Nissan Leaf was hit hardest, dropping from 1,008 sales in June to just 66 in August. Overall, only 148 electric cars were purchased in August, down from 1,338 in June. Watchdog.org reports that the $5,000 tax credit was on top of the $7,500 federal credit given for purchasing electric vehicles, making buying one of these cars in Georgia extremely cheap.
Read more: http://dailycaller.com/2015/10/29/electric-car-sales-crash-once-the-feds-are-no-longer-helping/#ixzz3q02AvZgh