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After hours:
- Yahoo Finance
'Not trivial': EV sales could drop nearly 30% if Trump repeals tax credit
For the automotive industry, reports that President-elect Donald Trump and his team are looking to repeal the $7,500 federal tax credit are not surprising. However, the effect of a potential repeal could be massive for automakers betting on EVs being the future.
- Yahoo Finance Video
If Trump cuts EV tax credits, it's bad news for Tesla and others
Electric vehicle (EV) demand is expected to plunge as President-elect Donald Trump has indicated he plans to cut EV tax credits during his second term in the White House. Yahoo Finance's Akiko Fujita joins Wealth! Host Brad Smith to break down the current EV tax credits and what the change means for EV makers like Tesla (TSLA) and Rivian (RIVN), as well as traditional automakers pushing into electric and hybrid options like Ford (FORD), General Motors (GM), and Stellantis (STLA). To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Naomi Buchanan.
