Trenton, N.J. (January 17, 2020) – Governor Phil Murphy is signing A4819/ S2252 today, which will boost the electric vehicle market in New Jersey by providing up to $300 million in electric vehicle incentives for consumers over the next decade, as well as provide investment in an expanded charging infrastructure. New Jersey’s 510 neighborhood new car and truck dealerships applaud the efforts of everyone who helped get this critical legislation passed.
The State of New Jersey has been part of the California Low Emissions Vehicle (CaLEV) program for 15 years and faces aggressive mandates to sell an ever-increasing percentage of low and zero emission vehicles (ZEVs). Last year, the mandate required 7% of all vehicles sold be full electric or plug-in hybrids, but they accounted for just 2-3% of the market. The mandates increase to 9.5% in 2020 and continue climbing 2.5% every year until they hit 22% in 2025.
“The New Jersey Legislature and Governor Murphy have stepped up and put real money where their mandates are,” says Jim Appleton, President of NJ CAR, the trade group that represents New Jersey’s $38 billion auto retail industry. “Today’s legislation addresses the two biggest obstacles to greater EV adoption: price and range anxiety. New Jersey’s franchised dealerships are ready to lead the anticipated growth in the Garden State’s EV market in 2020 and beyond.”
There are more than 40 full electric and plug-in hybrid models currently available from the manufacturers represented by the neighborhood new car dealer-members of NJ CAR. According to industry news reports, these automakers will introduce another 60 EVs through 2022, giving consumers even more attractive models to choose from in the near future.
“With the cash-on-the-hood incentives for EVs coming later this year, New Jersey’s sales tax exemption on EVs and generous federal tax breaks available to most consumers, there will never be a better time to embrace an electric vehicle in New Jersey,” says Jim Appleton. “Now that State government has begun to address the obstacles to greater EV adoption, the EV market will continue to grow in New Jersey and we can achieve our clean car sales and clean air environmental goals which benefits everyone in the Garden State.”