Half of Americans don’t know electric vehicle tax credits are expiring; few are planning a purchase
The Ipsos Consumer Tracker asks Americans questions about culture, the economy and the forces that shape our lives. Here's one thing we learned this week.
Why we asked: The Trump administration’s new budget and tax plan calls for eliminating the popular electric vehicle tax credit at the end of the federal fiscal year in September. Many wonder if that will impact sales now and after that.
What we found: Just four in ten say they’re familiar with the tax credits expiring (only 12% said very familiar). Men (52%) and higher-income households (56%) were more likely to be familiar.
That could be problematic for dealers hoping to move products off their lots before the deadline. Tesla is far from the only manufacturer in that camp. Just 8% said the expiring tax credits were more likely to make them purchase an EV.
I’ll admit I was tempted, but the model I was looking at isn’t covered by the credits anyway(?!?). More problematically for car makers: 18% said they are less likely to purchase an EV. And a majority (54%) said they weren’t likely to buy one regardless of the tax credits.
More insights from this wave of the Ipsos Consumer Tracker:
Fewer Americans are planning to cut back on items due to tariffs
People still largely prefer humans to create content, not AI
A plurality of parents expect to spend the same on back-to-school
Americans think America’s greatness continues to decline
The Ipsos Vibe Check: Here's how Americans feel about the government this week
The Ipsos Care-o-Meter: What does America know about vs. what does America care about?
