EV Sales At 32% — No, Make That 38%! — By 2030
AI-summarised brief · reviewed before publication
Toyota is betting on U.S. vehicle electrification despite the removal of the $7,500 federal tax credit under the Trump‑era “One Big Beautiful Bill.” A Harvard study released July 6, updated September 17, projects electric vehicles will represent 38 % of all new U.S. car sales by 2030, up from 8 % in 2025 and a correction from an earlier 32 % estimate. The researchers attribute most of the shortfall from a Biden‑era baseline to the tax‑credit elimination, which they say cuts the projected share by 6.2 percentage points. The study also notes that ongoing geopolitical shocks—particularly the Iran‑related oil supply disruption and Russia’s war in Ukraine—have driven fuel prices higher, creating a “new normal” that may accelerate EV adoption.
💡 Why It Matters
- · The revised forecast shows that even without federal incentives, market forces and soaring fuel costs are pushing EVs toward mainstream dominance.