With the federal tax credit for electric vehicles set to expire at the end of September, the segment’s share of the overall market is poised to shrink sharply. While some outlets have fixated on Tesla’s troubles, the broader reality is that EVs across the board have been losing momentum.
Incentives have long propped up demand, and their removal threatens to expose just how price-sensitive buyers really are. The coming months should offer a clearer picture of how much appetite exists for electric cars once the subsidies disappear.