Damon Lester, dealer principal of Nissan of Bowie, in Maryland, and vice chairman of the National Association of Minority Automobile Dealers, said leasing helps make EVs more affordable. But to put even more customers in EVs, the association’s leadership is talking with lawmakers on Capitol Hill on making some changes.
“Within the next eight years, there has to be a significant market incentive in order to get people to want to purchase these vehicles,” Lester said. “One of the things we have been discussing is a two year-moratorium on the [tax credit] formula, which is currently based on income for the $7,500 credit, for it to be available for all makes, for all models, for all vehicles.”
That would give all customers, regardless of income, access to the full tax credit, similar to what they could take advantage of during the COVID-19 pandemic, he said.
“The electric vehicle has to be an essential vehicle in the next eight to 10 years for consumers to drive as their daily,” Lester said. “That type of credit still needs to be accessible to everyone.”
Lester said consumers would rather hear they have $7,500 off the purchase price of an EV instead of a $7,500 lease credit.
“It’s a wordsmith and mindset from a consumer standpoint,” Lester said. “It does and can deter them because we’ve been so accustomed over the past three or five years of hearing, ‘You buy an electric car, we’re going to give you $7500 off.’ ”