US Edition
Last Call for the $7,500 EV Tax Credit: It Expires in September
UNITED STATES, JUL 8 – Automakers Tesla and Ford promote buying electric vehicles before the federal $7,500 tax credit ends on Sept. 30, 2025, to avoid higher prices and support EV adoption.
- Congress passed a $3.4 trillion budget bill signed by President Donald Trump on July 4, 2024, ending the $7,500 federal EV tax credit on September 30, 2025.
- The early end reversed provisions from the Inflation Reduction Act and aimed to fund previous tax cuts, drawing mixed views on its beneficiaries.
- Automakers and dealers are urging buyers to purchase EVs before the deadline while preparing for declining demand and adjusting product plans accordingly.
- Sam Fiorani of AutoForecast Solutions noted that many consumers feel a sense of urgency to purchase soon, leading him to anticipate a surge in sales during the third quarter followed by a subsequent decline.
- The removal of the tax credit may slow U.S. EV adoption, cause inventory reductions, and prompt new incentives to maintain demand amid cautious industry outlooks.
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Total News Sources65
Leaning Left19Leaning Right5Center16Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 40%
13%
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