The End Of United States EV Tax Credits and the Future of EVs

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Electric Principal

Күн бұрын

Пікірлер: 91

@clayton4115 2 ай бұрын

I've been enjoying driving my Ev over the last 5 years, thanks !

@badtoro 2 ай бұрын

1st. If the 7,500 credit is the reason you’re “able” to afford a EV, then you really can’t afford it. 2nd. The EV tax credits are impacting depreciation in a big bad way. So you’re not really saving money with the credit. 3rd. Once people get over range anxiety and the chargers keep expanding, then the adoption will explode

@HiFiTown 2 ай бұрын

@@badtoro Good points on depreciation. dealers are also just inflating the price to compensate so that they can get higher prices on the car. Particularly speaking of the used side of the credit which is a max of $4000. What's your advice if someone can only afford a used EV with the tax credit? Don't buy one? I figure a Tesla at this point isn't much worse to maintain than any other expensive used ICE vehicle? I know some say insurance.. but the difference between a EV and likewise ICE seems to be also marginal (80-120/mo for ICE vs max of 200 /mo for Tesla)

@HiFiTown 2 ай бұрын

@@badtoro another thing to ponder is that, as the new administration comes in and they eliminate these tax credits this will provide Tesla more of a monopoly on EV - thereby allowing them to raise prices and reverse depreciation? this is because US manufacturers want to focus on ICE and they're going to be handed EPA restriction cuts in favor of letting Tesla have the EV market? This is somewhat widely predicted?

@ronniemullis8717 11 күн бұрын

@@badtoro Thanks for the info. 1. I could afford it without the tax credit, but who wants to pay $7,500 more if they didn’t have to? I don’t understand how you’re not saving money upfront with the credit. At my age, this will be my last car purchase and I will be keeping it. 3. For my situation I’m not concerned about range, I will do all of my charging at home during off peak times.

@chemicallyfreenolye5462 2 ай бұрын

I agree, I only purchased a 23 Tesla M3 because of the tax incentive now I will never go back to a gas vehicle , am now about to purchase my second prior to 1/20/25 of course not sure if I want to lease this time, I do love a new car every few yrs so leasing looks good.

@mkgearhead5151 2 ай бұрын

Greetings, neighbor! I'm out here in Fort Morgan, CO. My wife and I bought our 2024 Kona EV's earlier this year and couldn't be happier. She bought hers first and I got jealous and traded in my Hyundai Santa Cruz 3 weeks later. With the $7500 Hyundai discount and the $5350 state tax credit, we paid less than the ICE equivalents. We survived for the first 5 months with just the level 1 chargers that came with the cars. I installed a level 2 charger in September. We're taking our second road trip the week after Thanksgiving to Kansas. It'll be nice to get a real-world experience of how winter driving affects range. There seems to be plenty of charging stations along I-70, so I'm not too concerned.

@ziploc2000 2 ай бұрын

The way batteries have plunged in cost over the last decade, EVs should already be cheaper than similar sized ICE counterparts. I think manufacturers are keeping prices artificially high.

@electricprincipal543 2 ай бұрын

I think manufacturers of slash cost of EV’s so much in the past year, that many of them are probably losing money on EV’s. Are you talking about the battery manufacturers?

@ziploc2000 2 ай бұрын

@@electricprincipal543 We've seen the graphs of how battery costs have dropped over the past decade, and seen predictions that battery costs will fall another 50% in the next two years. We're also told that the battery makes up to 40% of the cost of the vehicle. So if today 40% of the cost is going to halve, the car price should also drop by 20% in two years. Have we seen that decline in EV prices in the past as battery costs declined? I didn't think we had, but I haven't been studying new EV sales prices that much. But when a new EV costs less than the same model with an ICE engine, EVs will sell themselves, and we won't need complicated tax rebates and other incentives.

@wickedmessenger1 2 ай бұрын

I love your videos. You're the best. When I bought my VW ID.4 early this year, I didn't learn much from my salesperson (I think it was the first EV she sold). I learned from your videos. Now I'm an expert and give advice to new VW owners on the ID.4 Owners Facebook page. But it all started with you. I've also been very surprised to experience the most hate I have ever received for anything in my life simply by owning an EV. You might be quite insulated from this living in CO, but in a deep red state like mine, everyone is conditioned by incessant Right Wing propaganda that they should absolutely despise EVs as unpatriotic. Their lord and savior, DJT, has made it his mission to "Drill baby drill" and it seems that everybody and his brother makes it their mission to tell me just what a Libtard I am for falling for the EV nonsense. I hear the exact same Fox News talking points from everybody, even the lady who cuts my hair. I was even surprised to get an outpouring of hatred from solar power enthusiasts when I posted a video of my solar EV charging station. They liked the solar, they hated that I was using it to charge something as vile as an EV. This is a more recent thing, but so far I have driven over a thousand miles on pure solar energy. No grid involved. I believe, like you stated, that given a chance to an open minded person, EVs would be found a superior mode of transportation to most people--NOT everyone, but most. However, what you might not be considering is how strong the anti-EV sentiment is in Red states. Identity politics has made tens of millions of people vote against their own interests, that's how strong it is.

@electricprincipal543 2 ай бұрын

Thank you so much for your comments. Keep spreading the joy of driving your EV. It is pure pleasure. I still have fond memories of my first EV, a Chevy Bolt. Driving that car was a life changer and most of the critics have never driven one. It is unfortunate that EVs have become political. I have a good friend who is a conservative and loves his Audi E-Tron. He should...it is a great car!

@leftyduffer 2 ай бұрын

Tesla is 100% off my list.

@brokeboy87 2 ай бұрын

Does it have to do with Elon Musk?

@JohnCap523 2 ай бұрын

Me too, both the Musk factor and inferior products. It’s not 2015, or even 2019 anymore.

@WeisLending Ай бұрын

Proud of you for speaking your mind, buddy. How was kindergarten today?

@JohnCap523 Ай бұрын

@@WeisLending Someone thinks they’re cute. You sound like a DoucheBro Cybertruck driver.

@jamesr.9239 2 ай бұрын

If it weren't for the $7500 tax credit I wouldn't be driving a 2024 model Y nor would my brother be driving a Chevy Bolt. The credit was the main reason to pull the trigger on a $48,000 Tesla that became a little more affordable to me. It goes without saying that Orange Julius Caesar will do the dumbest , most illogical thing possible so the credits will be gone until we get another democrat in the White House. I can understand a reluctance to enhance Musk's bottom line but I got my car before he became trump's besty and became a permanent fixture at Mara Lardo. Vote with your feet , it's a tried and true way to say what's on your mind.

@ronniemullis8717 12 күн бұрын

I agree with your first statement but totally disagree with your politics. The woke policies of the Biden/Harris administration came dangerously close to destroying America. Moral values are more important to me. Facts are facts

@jamesr.9239 11 күн бұрын

@@ronniemullis8717 Last time I looked , moral values are not facts and I dare you to give a description of "woke". So far no-one has been able to do this , it's just political same as "make America great again", which is just a campaign slogan.

@bloodycreepy 2 ай бұрын

infrastructure is growing at a pretty good pace. IONNA, PILOT/FLYING J, and TESLA have been dropping stations in the ground like mad. But there are others out there that are adding to the infrastructure also.

@chsmithins 2 ай бұрын

Ionna sounds really interesting. I really wish them great success! It’s led by a consortium of EV manufacturers and is just now getting off the ground starting on the east coast.

@HiFiTown 2 ай бұрын

@@bloodycreepy James May was just saying on a podcast that most of the EV Long range stations don't have a place to get food - - that must be the UK because here in the USA - - it seems that the big gas stations with EV chargers - - also have plenty of food and snacks and things to do. Seems like that is a lot less of an issueconsidering standard range EV's especially since just getting out of the car and getting something at the gas station takes 20 minutes these days?

@greyangelpilot 2 ай бұрын

"I don't like making predictions, especially about the future" ~ Mark Twain

@electricprincipal543 2 ай бұрын

"If you don't think about the future, you cannot have one." ~ John Galsworthy ·

@rayblackburn2230 Ай бұрын

All this time I thought it was Yogi Berra a baseball player in the 1930"s who originally said this. Reporters asked him how many home runs he was going to hit in todays game and he replied, "well it's hard to make predictions, especially about the future."

@samk5310 2 ай бұрын

As someone who in month 2 of a 2 year lease on an Ioniq 6 I'm already thinking it maybe be better just to but the car when the lease is up

@easydoesit2905 2 ай бұрын

Im glad you have a good time making these videos because I am enjoying your content! I am waiting for the 2025 Ioniq 5 even if I miss the tax credit. Any word from corporate on the delivery of the 2025?

@jayb0nd007 2 ай бұрын

Have you seen the Ioniq 9 is beautiful

@jeffreyelledge9303 2 ай бұрын

Thanks Bob. I bought an EV today and there was no tax credit. I agree that EVs are here to stay. Battery technology is rapidly advancing. This is similar to the issue of solar power, where improvements in technology resulted in solar becoming a cost competitive generation technology.

@barryw9473 2 ай бұрын

Thanks, Bob. Have a great day. I agree now is the time to buy. Replace that old gas guzzler with an EV and be so much better off for it.

@DreDresChapters 2 ай бұрын

Came for the title & didn’t watch the video. I’ll be buying an EV just for this title ❤️

@HiFiTown 2 ай бұрын

I am heavily pondering this exact scenario -- to buy now or wait. Given the end of the (specifically used) tax credit is highly likely, its effect on EV prices I'm not so sure about. Every time I go to find a good deal on a used EV which might benefit from the $4,000 tax credit, the dealer has usurped the credit! None of them are passing the credit onto you. In other words, everything is inflated $4,000 in price almost automatically. The bad dealers even include it in the advertised price! Because of this, I don't think the credits are working or helping in any way. And if they go away, the dealers will be forced to lower their prices. Does that make any sense?

@flolou8496 2 ай бұрын

Do you happen to have any inside knowledge on the differences between 2023 IONIQ 5's that were purchased VS leased for 2 years? For example what if 90% of 2023 IONIQ 5's were actually ''leased'' and not actually purchased, this could mean a lot more inventory would be coming back on the market in the next 90 days, resulting in lower prices for the 2nd owner's:

@ronniemullis8717 12 күн бұрын

I am seriously considering the new Cadillac Optiq, but without the tax credit I will probably back out because of the already large depreciation EV’s take. I’m trying to find out if this credit has already been eliminated. Today’s date is 1/22/25. Thanks

@JohnZolla-bp7tl 2 ай бұрын

I've leased an Ioniq 5 for the next three years. A lot can happen politically in three years.

@RubenNacia-u5q Ай бұрын

7500 dollar discount for a brand New Toyota Hybrid is going to be beautiful, I love the smell of those brand new Toyotas and they last forever!!!!

@jayb0nd007 2 ай бұрын

So if you own a house you can have an EV if not keep driving that Civic 😅

@electricprincipal543 2 ай бұрын

No doubt, having your own home charger makes EV living much easier.

@ronnelson06824 Ай бұрын

I so hope people will still consider Teslas, they are good cars. Elon is not that good. My 2022 Hyundai Ioniq 5 long range, rear wheel drive SEL trim is the best car I ever bought or owned and I’ve had it for three years at the end of this month and over 75,000 miles. It gets 350 miles of range in the summer and easily 250 miles of range in the winter in Connecticut at 20°F. It has had car issues that had to go to the dealer, but it seems to be running better than ever and it never really left me stranded. I got a loaner car from the dealer on three separate occasions for six weeks total and that was the customer service that I expect and the car was given back to me better than ever each time. I spent $45,000 out the door after everything and including $7500 federal income tax credit …… more than I’ve ever spent on a car, but it is clearly Genesis like and not Hyundai like, very upscale very high-end. When Elon reduced his pricing by 35% or whatever during 2023 my car value plummeted, I think I could get $20,000 for a trade-in now. But as you said in your video, they’re gonna bury me in this car and I swear I’m gonna drive it every day for the next 25 years. The charging speed as you said in your video are stupid fast …….. I can get 1600 or 1800 continuous watts from the car and I can power my home. Is that so freaking cool? My home has solar since 2012 so my electricity is free or six cents a kilowatt hour. One and a half cents a mile. The semi autonomous driving is the most relaxing thing and a 2000 mile drive seems like a 200 mile drive. The 225 hp is faster than the 63-year-old really wants to travel but boy is it fun to punch it. I have gotten 3.9 mi./kWh through Connecticut winters and through Connecticut Summers …..on average. So efficient. I want the $7500 federal income tax credit to continue for the next 10 years…. it will so help EV adoption and it will be a subsidy while manufacturers build battery plants and car assembly plants in the USA. The USA has given subsidies to automobiles and oil companies and gasoline companies for 100 years. That should stop immediately and go into domestically made batteries and Evie‘s. I do want charging infrastructure subsidy to continue, but I feel the same way you do. The charging infrastructure is great today. Every freaking gas station wants to build an EV charger and they will, and that will keep ranging anxiety and charge your anxiety to a minimum. The more chargers, the more competitive, the pricing, which is always good

@jonitan76 2 ай бұрын

just watched some one in US bought BYD Shark in mexico and drive it to US. he said he paid 14K and monthly around 1k usd (for 72 months). if u afraid to buy an EV, this BYD shark is kinda between EV (short range around town less than 60 miles pure ev range) plus the benefit of ICE car (with built in generator to charge the battery. combine range will have more than 600 miles)

@Ottonic6 2 ай бұрын

Convenient if you're a home owner. For now anyway.

@selewachm 2 ай бұрын

I was going to buy a Modely Y after we test-drove it a couple of months ago but after seeing him for full nazi (Never go full nazi! lol - Tropic Thunder ref), I'm getting an F150 Lightning.

@hernandez-perezandroid5983 2 ай бұрын

EVs in general will definitely drop prices at a minimum $7,500 even at my location new unsold 2023/2024 Hyundai and Kia EV models are dropping prices up to $20,000 on their Ionic 5 and EV6

@slobodantrendic22 Ай бұрын

Where is that location area you are referring to? Those discounts are very tempting for those like myself considering an EV purchase. Thanks!

@hernandez-perezandroid5983 Ай бұрын

@slobodantrendic22 PuertoRico, but the same is happening in New York and Florida.

@ZeusBullyMax 2 ай бұрын

All of the OEM’s that are producing BEV’s or hybrids are not gonna let the tax credit go away without a significant amount of time for them to prepare. They’re already in talks with the Trump administration about it. The EV tax credit is not going away right at the first of the year through executive order.

@electricprincipal543 2 ай бұрын

I hope you’re right. Trump is going to want some wins, and if the Republican Party sticks together, they have the votes to amend the inflation reduction act.

@TurfSurf 2 ай бұрын

I am sure all the ritewhingers who complaining about the economy and the price of eggs will flock to the Tesla shop to pick up their cyber truck now😂😂😂😂😂

@joeycordo24 Ай бұрын

This political pandering is a turn off

@leftyduffer 2 ай бұрын

Costing me $7500, not happy.

@gmitchell8672 2 ай бұрын

Has anyone not bought a Ford or Chevy or Dodge because of the CEO's political or social position? Has any one not bought a iPhone or Android for the same reasons ? NO ! Any one that does not buy a product for any other reason other than quality features and price is not the brightest individual period. The auto companies are gonna have to start getting off the butts and compete. If these start up and foreign car companies can do it the big three better figure it out and have the guts to make those changes. Leasing an auto is the worst financial decision for the individual but a big money make for the auto makers. Why do you think they push leasing.

@JohnZolla-bp7tl 2 ай бұрын

I'll buy any EV. Well, not any EV. Elon can kiss my Democratic ass. 😁

@electricprincipal543 2 ай бұрын

Thanks for watching the channel. Most of those foreign car companies are subsidized by their governments. China does an excellent job of it.

@Badgerpat83 2 ай бұрын

I don't know about cars...but it's played hell on Tennis shoe and beer companies🤣

@electricprincipal543 2 ай бұрын

Also, I don’t know the political views of anybody else’s car company.

@JohnCap523 2 ай бұрын

I don’t buy from fascists. I wouldn’t drive a Tesla for free, aside from the Musk factor, their mainstream 3 and Y are overpriced and very inferior to any Korean or American EV. If your point is no one doesn’t buy because of Musk, buwahahahaha… only the board is stupid enough to buy that, mostly because they’re mostly in his pocket.

@KipSwope 2 ай бұрын

Wonder why there so many sitting on the lots . gas will be under 2.00 soon .

@chsmithins 2 ай бұрын

Why do you think that? World crude prices are not US based and historically have little correlation to who is in the White House.

@electricprincipal543 2 ай бұрын

There are a lot of cars sitting on the lot that aren’t electric. I went to two Hyundai dealerships in different parts of the country the past two days and I sure see a ton of brand new Santa Fe Suvs. They get great reviews sitting on lots. The Santa Fe is a fantastic car and should be going out the door quickly and they are not.