Tesla, Volkswagen and Chevrolet purchases are highly dependent on EV rebates: JD Powers

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By Nick Godt Published November 29, 2024 5:16 PM

Many analysts predict that sales of electric vehicles will be hit should the incoming Trump administration carry out its plans to end the $7,500 federal tax incentives on EV purchases and leases.

While predictions vary, with some expecting this would lead to a 27% drop in demand for EVs, research firm J.D. Power took an extra step and asked consumers how rebates had influenced their decision to buy an EV.

J.D. Power’s study confirmed the federal tax credits have played a critical role in consumer decisions: Among premium brand EV owners, 64% say that incentives were a primary driver of their decision to purchase or lease their EV. Among mass market EV owners, 49% selected their vehicle based on tax credits and incentives.

More specifically, the survey found Volkswagen, Chevrolet, and Tesla owners were the most heavily influenced by the incentives: Tax credits and incentive programs were cited as the top reason for purchase among 81% of Volkswagen buyers, 77% of Chevrolet buyers, and 72% of Tesla buyers.

By contrast, only 32% of Hyundai buyers, 24% of Kia buyers, and 21% of Toyota buyers said tax credits and incentives were a primary reason for their vehicle selection.

The findings suggest a different impact than the one recently predicted by Tesla CEO Elon Musk, a close advisor to President-elect Donald Trump. Musk recently gave his blessings to ending federal incentives for EVs, saying the move would probably be “devastating” to Tesla competitors while only impacting his company slightly.

Several trade groups, including the Zero Emission Transportation Association (ZETA), whose members include the likes of Tesla, Waymo, Rivian, and Uber, have come out in support of keeping federal incentives for both the production and sales of EVs.

The incentives have helped domestic manufacturers of EVs and their components, such as batteries, boost job opportunities across the U.S., including in many Republican-dominated states such as Ohio, Kentucky, Michigan, and Georgia, the group says.

Nick Godt

Nick Godt has covered global business news on three continents for over 25 years.

These 70mai dash cams are on sale: You shouldn’t be driving without one

70mai dash cams are on sale featured image

These days, it doesn't matter what state or country you live in, you really shouldn't be driving without a dash cam installed. Why? Because they record constantly and capture a great deal of things happening both inside and outside of your car. Get in an accident or fender bender? It's all recorded. Someone try to do something to your car? The evidence is there. Something else happens to you around your car? There's a video of the event. It's no longer just your word against whoever else's, either. You have video evidence of what happened to share with law enforcement, during legal proceedings, and more. If I have you thinking about getting one, you'll want to listen up. Right now, a bunch of dash cams are on sale from 70mai allowing you to save up to 25% off. You'll need a promo code, so pay attention, and these deals are only good from November 16 until December 4, so don't waste time. They might also make great gifts for someone.

70mai Dash Cam A510 -- $105, was $140 25% off
This cam supports front and rear dual recording, with ultra HD 1944P for the front-facing camera and 1080P HD for the rear-facing. Superior night vision and HDR technology ensure even in low-light conditions or the dark everything is captured. Upgraded WiFi and GPS, continuous loop recording, emergency recording when events are detected, and LTE support with an optional add-on are all available here. There's also a 24-hour parking monitor that ensures your car is monitored and protected no matter where you stop -- home or away.

If you don’t have a car battery jump starter yet, get this one for only $133

The Avapow W68 car battery jump starter and its accessories.

You won't always need a car battery jump starter, but it's much better to buy one now than to miss it when you need it. You don't have to spend a lot of cash on one too, because there are offers like Walmart's $187 discount for the Avapow W68 car battery jump starter. From its original price of $320, it's all the way down to an affordable $133. We're not sure how much time is remaining for you to be able to take advantage of this bargain though, so you need to complete your purchase right now if you don't want to miss out on the savings.

Why you should buy the Avapow W68 car battery jump starter
There are a few reasons why a car battery loses its charge, including when the car isn't used for a long period of time, the car battery is too old, or you leave power-consuming accessories like the lights or the radio on while the engine is off. Jump-starting a car is an easy process if you have the right tools for it, and the Avapow W68 car battery jump starter has everything that you need. It provides up to 6000A of peak current that's suitable for all 12-volt vehicles -- not just cars but also boats, TVs, tractors, lawnmowers, snowmobiles, and more. It also comes with its own jumper cables with intelligent clamps that will notify you if there are any issues with how you're using them.

Honda doubles down on ‘holy grail’ of EV batteries

honda solid state battery production first electric suv 3

While some automakers are scaling back their production of electric vehicles, Honda is basking in the glow of a successful launch of its Prologue EV in the U.S., and was recently dubbed “North America’s most committed automaker.”

And now, Japan’s third-largest automaker is showing a similar commitment to making EVs more efficient and affordable, zeroing in on the production of its own in-house solid-state batteries, also known as the ‘holy grail’ of EV batteries.

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