Ford: US electric vehicle share to halve after $7,500 subsidy cancellation

Ford Motor CEO Jim Farley predicts a significant decrease in demand for electric vehicles in the United States after the expiration of the federal tax credit of $7,500. According to his estimate, the share of fully electric vehicles in the market may reach a peak of 10–12 percent this month, but will fall to five percent next month. This policy change, which takes effect in the coming days, will force the entire industry to revise its development strategies.

Farley emphasizes that consumers are showing greater interest in hybrid models than in purely electric vehicles. He noted that the high price of electric vehicles, often exceeding $75,000, deters buyers, despite their advantages in acceleration, fuel efficiency and no need to refuel. Currently, Ford offers models such as the F-150 Lightning pickup truck, costing over $90,000, and the Mustang Mach-E crossover in the USA. The company's electric vehicle team analyzes market trends daily.

Changes in policy will require Ford to adjust its plans for the placement of battery plants and production facilities for electric vehicles. Farley believes that this will create additional pressure on the industry, although it will benefit the country in the long term. Over the past four years, the predictability of incentives has contributed to growth, but now all manufacturers will have to adapt to the new conditions.

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