> Dealership managers told the Daily Mail they spent September in overdrive, clearing out every electric vehicle they could before the credit expired.
> Simply put, automakers didn't have electric vehicles on lots to sell.
This is not a trustworthy source, but even they are undermining their own headline.
Probably more for the low end of the electric car market (which is still middle income plus, but not really high income), as tax credits are more impactful the lower your income is (though that reverses for credits that arent refundable at the point when your total tax liability before the credit is less than the credit amount.)
A bigger factor for the high end is probably that electric cars lost their status signaling function.
Of COURSE, October will be basically 0 sales. Who would have bought 15 days after the $7500 credit disappeared vs before?
You're going to see depressed purchases for a few months because of the mad rush to hit September 30. This is expected, we'll probably see the moved up purchases flush out of the system by Feb or so.
Sales will probably modestly recover, but not to the point they were at with the credit in place for quite a while. Electric cars are expensive, and still have some unique limitations. Eventually they'll overtake ICE vehicles as those limitations are mitigated.