Gasoline Vehicles Under Fire: California & Banks Driving the Ban
Download MP3 Bank Policies on Gas-Powered Vehicle Loans:
- Some banks, starting in Australia, are ceasing loans for new gasoline or diesel vehicles.
- This trend is expected to expand globally, including in the U.S.
- Buyers of new combustion-engine vehicles may need to pay in cash if loans are unavailable.
- Loans for used gas-powered vehicles will still be available for now.
- California's Proposed Ban on Gasoline Vehicle Sales:
- California Air Resources Board (CARB) is finalizing a plan to ban the sale of new gas-powered vehicles by 2035.
- The mandate will require all new vehicles sold in California to be free of fossil fuel emissions.
- California, the largest auto market in the U.S., sets trends adopted by at least 12 other states.
- Manufacturers may phase out gas-powered vehicles due to market pressure, making them less viable nationwide.
Points for Discussion
- Your Thoughts:
- Is this a good or bad idea?
- Will these policies effectively accelerate the transition to EVs?
- Potential Challenges:
- Inflation and costs associated with EV adoption.
- Charging infrastructure readiness.
- Supply chain issues for EV production.
- Impact on buyers: Will people keep gas vehicles longer or move to other states?
- Unintended Consequences:
- Availability of parts for older gas-powered vehicles.
- Decline in skilled mechanics for gas engines.
- Effects on industries relying on gasoline transportation.
Listener Engagement
- Join the Conversation:
- Are you in the automotive or lending industry?
- How will these changes affect your work or daily life?
- What unintended consequences might arise that haven’t been considered?
- Share your thoughts and insights in the comments!
