4,000+ Car Dealerships Ask President Biden To Hit The Breaks On EV’s

In November of last year, over 4,000 auto dealers from across the country (including 85 from Pennsylvania) representing every major automotive brand wrote President Biden a letter asking to “tap the brakes” on a proposed government electric vehicle mandate. This request was in response to the Biden administration setting a target for battery electric vehicles, also known as BEVs or EVs, to account for half of all new vehicle sales by 2030.

The joint coalition of car dealers have now come back to President Biden with the following request to “hit the breaks” on a proposed government electric vehicle mandate by pointing out the following facts.

  • The number of electric vehicles that qualify for the $7,500 tax credit in 2024 is less than half the number that qualified in 2023 (only 19 versus 43 last year). New rules disqualify vehicles that rely heavily on components and minerals from China, which currently dominates the supply chain for batteries. The cost premium for electric vehicles is a major factor for consumers, and the loss of these credits is bound to depress consumer demand in 2024 and beyond.
  • Despite the $7.5 billion allocated two years ago to build public electric vehicle charging stations, just three have been opened to date. Range anxiety is a major factor in consumers’ reluctance to buy electric vehicles. Based on the government’s estimates, 2.8 million public chargers will be needed by 2032, but only 170,000 public chargers exist today. That means 800 new chargers would have to be built every single day — for the next nine years. Clearly, this is not even in the realm of possibility.
  • Electric vehicles represented just 8% of vehicles sold in 2023. The proposed regulations would require that 60% of vehicles sold in 2030 be battery electric – and two out of every three by 2032. Electric vehicle sales are not remotely on trend to meet those requirements. Indeed, the day supply of electric vehicles on dealer lots today is nearly twice the supply of conventional vehicles.