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

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

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.

Subscribe to our Newsletters

Latest in Home

Pam Oakes
Correcting rear alignment
Take this quick five-question quiz to see how much you know about the relationship between wheel alignments and ADAS!
June 30, 2025
Adobe Stock 401174560
Downward Cash Arrow
Take this quick one-question poll to let us know if this is happening in your area.
June 25, 2025
Endeavor Business Media
2025_fenderbender_award_logo
Recognize a deserving collision repair shop owner or operator with your nomination.
March 14, 2025