CHARLOTTE, N.C. — Electric cars have been one of the fastest-growing segments in the auto industry. But a major shift in federal policy could put the brakes on that momentum. The federal tax credit for electric vehicles has officially expired, putting what was once viewed as the future of driving in jeopardy.
For years, the $7,500 credit helped make EVs more affordable. It boosted consumer demand and pushed automakers to invest heavily in electric models.
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Now, without that incentive, executives warn of a sharp drop in EV sales. Ford's CEO says market share could fall to just 4% to 5% by year's end.
Dealers currently sit on about 134,000 unsold EVs — that's roughly two months' wor