4 Cars To Buy Now if You Think Harris Will Win the 2024 Election
Written by
Yaël Bizouati-Kennedy
Edited by
Travis Woods
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Vice President and presumptive Democratic nominee candidate Kamala Harris entered the race just a few days ago, and while her agenda is not yet laid out, there are many of President Biden’s policies she will probably align herself with. One of these issues, for instance, is around electric vehicles (EVs).
“If Kamala Harris becomes president, there is a high likelihood that she will push for stricter emissions regulations and incentives for electric vehicle adoption,” said Michael Collins, CFA, founder, CEO, WinCap Financial. “Therefore, investing in an electric car now would not only align with her potential policies but also help save money in the long run on fuel costs.”
In addition, some experts said that regardless of the next administration, there will be continued growth in the electric vehicle market, supported by the unprecedented funding into the electrification sector.
“We continue to see automakers launching more and improving vehicle options and capabilities, which are attracting a wider range of consumers to the EV market,” said Rue Phillips, co-founder and president, SkillFusion.
What’s more, Phillips noted that the nation’s charging network continues to grow and improve every quarter to support drivers.
“This is causing incredible economic opportunity for the country and new careers for those interested in being a part of the EV revolution,” added Phillips.
Here is a look at cars to buy now if you think Harris will win.
Tesla Model 3
Andrew Latham, CFP, managing editor, Supermoney.com, said that while he doesn’t recommend choosing cars based on who wins elections, if you’re going to base your decision on that, one worth considering is the Tesla Model 3.
He added that the Tesla Model 3, built in the U.S., might qualify for more tax benefits- credits which are part of the Inflation Reduction Act of 2022. These credits are up to $7,500 under certain circumstances.
Ford Mustang Mach-E
This car could also qualify for more tax credits, as it is also built in the U.S. – and hence makes it a good option under a potential Harris administration due to its alignment with green policies and potential incentives, said Latham.
Toyota Prius Prime
If Harris becomes president, she may push for incentives or tax breaks for purchasing eco-friendly cars, making the already affordable Toyota Prius even more attractive to buyers, according to WinCap’s Collins.
“Its efficient fuel economy and low emissions combined with the longevity people have come to expect from Toyotas also make it a practical choice for daily commuting,” he added.
Chevrolet Bolt EV
The Chevrolet Bolt EV is another electric car option that may see increased demand under a Harris presidency, said Collins.
“This compact hatchback offers over 250 miles of range on a single charge and has earned praise for its spacious interior and responsive driving experience,” he said, adding that as Harris has expressed support for expanding electric vehicle infrastructure, the Bolt EV could be a popular choice among her supporters looking to make the switch to greener transportation.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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