Electric Vehicles Face a ‘Pretty Dreadful Year’ in the U.S.

The U.S. electric vehicle (EV) market is facing a challenging year as the federal tax credit for EV purchases has come to an end. This is expected to lead to a decline in EV sales, according to industry experts. The tax credit, which provided up to $7,500 for qualifying EV purchases, has been a significant driver of EV adoption in the country. With its expiration, the cost of EVs is likely to increase for consumers, making them less affordable. However, industry experts believe that the EV market will eventually recover. They cite factors such as increasing model availability, improved charging infrastructure, and growing consumer awareness as reasons for the eventual rebound. Despite the current setback, the long-term outlook for the EV market in the U.S. remains positive. As technology advances and costs come down, EVs are expected to become more accessible and competitive with traditional gasoline-powered vehicles.