GM CEO: Cutting U.S. EV Tax Credit Will Impact Vehicle Sales

Dec. 14, 2017

Mary Barra, CEO of General Motors, says that if congress eliminates an electric vehicle tax credit, it will have an impact on sales of U.S. electric vehicles.

Dec. 14, 2017—Mary Barra, CEO of General Motors, says that if congress eliminates an electric vehicle (EV) tax credit, it will have an impact on sales of U.S. EVs, according to a report by Reuters.

The House version of a bill that would cut corporate tax rates calls for eliminating a tax credit of up to $7,500 for purchasers of EVs, according to the report.

Members of the auto industry and environmental groups are lobbying to save the credit.

According to Reuters, Barra says that eliminating the tax credit would affect the way potential EV buyers calculate the cost of owning one.

The tax credit is a subsidy for manufacturers of EVs, which can charge a higher price for electric cars knowing the buyer will get a rebate from the government, according to the report.

Sponsored Recommendations

Valvoline Partner Solutions

We arm you with products that build trust, tools that unlock productivity, and training that drives business performance, so you feel confident in where your...

Grow the business you know

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

Solutions that drive results

Connect with Valvoline experts to increase operational efficiency and customer loyalty – from Valvoline-funded promotions to hands-on training, we’re here to...

Free Resources for Shops Like Yours

View insights, research and solutions curated specifically for shops like yours.