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Kiplinger
Kiplinger
Business
Sean Jackson

You Bought an EV and the Company Failed. Now What?

A woman carrying her child while plugging an EV charger into an electric vehicle.

You drive away from the dealership, elated that you bought your first electric vehicle. Six months later, you receive news that your car manufacturer won't make EVs anymore. Great; now what do you do with an orphaned EV?

This is the reality hitting the EV market now. While sales were robust in recent years, ABC News reported that EV sales were down 20% in January compared with December of last year. One reason for declining sales is that President Donald Trump eliminated the $7,500 EV tax credit as part of the One Big Beautiful Bill.

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