Tesla Motors CEO Elon Musk said this morning he thinks there would be less demand for his electric cars without the $7,500 tax credit “incentive” the government awards buyers for their environmentally conscious purchase.

“Do you’d have the same amount of demand without the government subsidy?” Asked Bloomberg’s Betty Liu.

“Oh, the $7,500? No, I think there would be a little less demand,” Musk said. “I mean there’d probably be, I don’t know, ten to twenty percent less demand.”