Electric Cars Slide Over for New Gas-Powered Cars

Rachael Slobodien / April 01, 2011

No matter how hard the government tries, it just won’t ever be as effective as the free market is in satisfying consumer demand. Want proof? Take a look at what the federal government is doing to lure people into buying more expensive, less convenient plug-in electric cars.

Since little demand currently exists in the market for electric cars, the government offers a tax credit of $7,500 to those who purchase vehicles like the Chevy Volt and the Nissan Leaf.  And even with the tax credit, electric cars aren’t flying off the lots. So while the government continues to waste taxpayer dollars in its attempt to commercialize an industry, the free market is meeting consumers’ needs by improving existing technology and doing so without government-funded incentives. (more…)