Time to Reassess Government Subsidies for Electric Vehicles
Submitted by MAGA
Posted 2 hours ago
The electric vehicle (EV) market is facing a reckoning, and it’s time for a serious evaluation of the government's role in propping up an industry that consistently fails to meet its promises.
Despite an avalanche of advertising and government subsidies, EV sales remain stagnant, capturing only about 9% of the new car market.
These vehicles are frequently marketed as the eco-friendly solution to America’s transportation woes, but the reality is far less convincing.
Many consumers are discovering that the advantages of electric cars, like quiet engines and quick acceleration, are already available in standard gas-powered models, often at a significantly lower cost.
Profits for major automakers are taking a hit as they try to keep pace with government mandates that prioritize electric over gas-powered vehicles.
Ford, for instance, recently announced that it expects to lose $5.5 billion on its electric vehicles this year alone.
This follows a $5 billion loss from the previous year, translating to approximately $60,000 lost for every single EV sold.
Instead of responding to market demands, Ford appears to be succumbing to pressure from the Biden administration, which has forced companies to commit to selling a staggering percentage of EVs by 2030.
The push is clear: Federal regulations now dictate that 32% of new sales must be electric or hybrid vehicles by 2027, further distorting the market.
It's no surprise that major manufacturers like Honda and General Motors have scrapped plans for new EV models due to insufficient demand.
Even Toyota has scaled back its EV production by a third, revealing a disheartening trend for the EV industry overall.
The Texas Public Policy Foundation has documented that government incentives have inflated the average cost of an EV by nearly $50,000.
Imagine how few would be sold if consumers had to pay that steep price tag without subsidies!
The recent struggles of EV-related companies, including bankruptcies and massive financial losses, show alarming parallels to past government-funded failures.
Before leaving office, the Biden administration handed over a $6.6 billion low-interest loan to Rivian, a company that has yet to prove it can actually manufacture electric vehicles at scale.
This kind of financial mismanagement raises questions about the competency of decision-makers prioritizing an agenda over profitability.
If there is genuine demand for electric cars, the market should dictate that without the burden of taxpayer-funded support.
As it stands, the EV industry is bloated by government meddling and false expectations.
It’s time to reconsider the viability of electric vehicles through the lens of a free market rather than political ambition.
Taxpayers deserve better than to be hoodwinked into subsidizing a vehicle type that continues to falter under its own weight.
Sources:
gopusa.com
thecentersquare.com
rumble.com
Despite an avalanche of advertising and government subsidies, EV sales remain stagnant, capturing only about 9% of the new car market.
These vehicles are frequently marketed as the eco-friendly solution to America’s transportation woes, but the reality is far less convincing.
Many consumers are discovering that the advantages of electric cars, like quiet engines and quick acceleration, are already available in standard gas-powered models, often at a significantly lower cost.
Profits for major automakers are taking a hit as they try to keep pace with government mandates that prioritize electric over gas-powered vehicles.
Ford, for instance, recently announced that it expects to lose $5.5 billion on its electric vehicles this year alone.
This follows a $5 billion loss from the previous year, translating to approximately $60,000 lost for every single EV sold.
Instead of responding to market demands, Ford appears to be succumbing to pressure from the Biden administration, which has forced companies to commit to selling a staggering percentage of EVs by 2030.
The push is clear: Federal regulations now dictate that 32% of new sales must be electric or hybrid vehicles by 2027, further distorting the market.
It's no surprise that major manufacturers like Honda and General Motors have scrapped plans for new EV models due to insufficient demand.
Even Toyota has scaled back its EV production by a third, revealing a disheartening trend for the EV industry overall.
The Texas Public Policy Foundation has documented that government incentives have inflated the average cost of an EV by nearly $50,000.
Imagine how few would be sold if consumers had to pay that steep price tag without subsidies!
The recent struggles of EV-related companies, including bankruptcies and massive financial losses, show alarming parallels to past government-funded failures.
Before leaving office, the Biden administration handed over a $6.6 billion low-interest loan to Rivian, a company that has yet to prove it can actually manufacture electric vehicles at scale.
This kind of financial mismanagement raises questions about the competency of decision-makers prioritizing an agenda over profitability.
If there is genuine demand for electric cars, the market should dictate that without the burden of taxpayer-funded support.
As it stands, the EV industry is bloated by government meddling and false expectations.
It’s time to reconsider the viability of electric vehicles through the lens of a free market rather than political ambition.
Taxpayers deserve better than to be hoodwinked into subsidizing a vehicle type that continues to falter under its own weight.
Sources:
gopusa.com
thecentersquare.com
rumble.com
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