By Jo Nova

The magic of the free market was suddenly applied to EV sales last month. Tax credits and subsidies for electric cars in the EU and China ended on January 1, and sales promptly halved.

So half the entire EV market apparently only existed because governments took money from poor people to help rich people buy EV’s. Everyone wants nice weather in 100 years, but no one wants to pay for it.

Let’s all sing “equity”.

EV sales collapse as subsidies and tax credits come to an abrupt halt

American Journal of Transportation

The global electric vehicle (EV) market is reeling from one of the most dramatic collapses in monthly sales to date, with Rystad Energy research showing that only 672,000 units were sold in January, almost half of December 2022 sales and a mere 3% year-on-year increase over January 2022. The EV market share among all passenger car sales also tumbled to 14% in January, well down on the 23% seen in December.

The US is a ray of hope for the industry. Not because American EV’s are necessarily better but because of “better” government interference:

EV subsidies in many […]