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Brookings analysts recommend against repeating cash for clunkers program in future recession

Green Car Congress

However, the cost of CO 2 reduced was comparable or lower than that achieved through less cost-effective policies such as the tax subsidy for electric vehicles, the analysis concluded. After the “clunker” was traded in, its engine was destroyed. 677,842 clunkers were traded in between 1 July 2009 and 24 August 2009 as part of the program, which issued $2.85 billion in vouchers; NHTSA concluded that the new vehicles purchased under the program averaged 24.9

Can Electric Vehicles Speed Up As The Economy Slows Down?

Wallbox

For the past few years, EVs became an increasingly popular choice amongst drivers. As a McKinsey report points out, early adopters sparked 60% growth year-on-year for the past decade. last month, but battery electric vehicle sales decreased by only 58.1%.