Tesla and Other EV Stocks Drop on Reports Trump Team Plans To Kill Tax Credit
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Tesla and other electric vehicle stocks fell after reports that President-Elect Donald Trump plans to eliminate the $7,500 EV tax credit.
November 14, 2024 | 10:30 pm
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Tesla shares fell due to reports that the Trump administration plans to eliminate the $7,500 EV tax credit, which could negatively impact EV sales.
The potential removal of the $7,500 EV tax credit is significant for Tesla as it could reduce the financial incentive for consumers to purchase electric vehicles, potentially leading to decreased sales and negatively impacting Tesla's stock price.
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