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

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.