Story perspectives
Trump’s EV Incentive Cuts Could Slash Sales 27%
2/7/2025
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Story summary
- Donald Trump plans to remove electric vehicle incentives, potentially leading to a 27% decline in EV sales.
- Elon Musk endorses Trump's initiative, suggesting it favors Tesla over rivals like Ford and GM.
- Tesla's European sales, especially in Germany, dropped 59.5% year-over-year amid Musk's political issues.
- Musk's net worth has decreased by $43 billion since Trump's inauguration, impacted by new tariffs on Tesla's supply chain.
