US EditionA $7,500 EV Tax Credit Expires Soon: What that Means for EV Prices
Dealership delays in filing IRS paperwork risk buyers losing the $7,500 federal electric vehicle tax credit before its Sept. 30 expiration, despite 65% of buyers planning EV purchases.
- On September 23, 2025, the Internal Revenue Service instructed dealerships to file paperwork so buyers can claim the Clean Vehicle Credit before it ends on Sept. 30, 2025.
- Policy revisions in a recent spending-and-tax package accelerated the phase-out, shortening the Inflation Reduction Act EV tax credit timeline via the `one big, beautiful bill` under President Joe Biden.
- U.S. EV sales rose 7% in 2024 to 1.6 million, but Cox Automotive found 65% of buyers will still purchase without the credit, and Green warned `I think there's going to be a little bit of turmoil in the market for quite some time`.
- In late August, buyers Katie Larsell and Michael Schilmoeller said dealer filings threatened their $7,500 credit as IRS rules require a `time-of-sale report` filed within a three-day window, though exceptions apply.
- Starting Jan. 1, 2026, Colorado's EV tax credit will fall from $3,500 to $750, while Cox Automotive warns limited dealer inventories may blunt price cuts, Stephanie Valdez Streaty said.
39 Articles
39 Articles
Tennessee's electric vehicle industry faces uncertainty as federal tax credits are set to end
NASHVILLE, Tenn. (WKRN) — Buying an electric vehicle may not be as beneficial for your bank account starting at the end of the month, and some believe the change could impact the Tennessee's electric vehicle industry. The $7,500 federal tax credit for purchasing a new EV, and the $4,000 tax credit for purchasing a used one, will disappear Sept. 30. The cuts were included in the "Big Beautiful Bill" passed by Congress in July. Some believe it may…
Electric vehicle tax credit ending soon as buyers rush to meet deadline
The federal electric vehicle tax credit of $7,500 is set to end on October 1, 2025. This deadline is causing a rush among consumers eager to purchase electric vehicles before the credit expires.
Coloradans have until Sept. 30 to claim up to $7,500 in tax credits for electric vehicles
Coloradans have until the end of the month to take advantage of thousands of dollars in federal tax breaks for electric vehicles. Known as the Clean Vehicle Credit, the benefit provides a tax discount of up to $7,500 for a new electric car and up to $4,000 for a used one. It expires on Sept. 30. The tax credit was approved as part of the Inflation Reduction Act in 2022 and initially set to last through 2032. That timeline was cut short, howeve…
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