JD Power Believes EV Sales Will Begin A Death Spiral With No Federal Subsidies Propping It Up

Experts believed that the now-discontinued EV tax credit would harm electric vehicle sales. Now, J.D. Power forecasts that EV sales have plummeted by up to 43% in October. And the electric vehicle tax credit is to blame for the precipitous drop.

If you purchased a new EV earlier this year, you likely qualified for a hefty federal tax credit. As of the end of September, the government stopped offering a $7,500 tax credit for qualifying electric cars, trucks, and SUVs.

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