Electric Vehicle Sales Leap with Tax Credit About to Expire, but Range Still a Worry in Minnesota

Electric vehicle sales leap with tax credit about to expire, but range still a worry in Minnesota

Leaf McGregor has wanted an electric vehicle for years. With the federal tax credit set to expire at the end of the month, he decided now was the time to act. “We got a 2022 Nissan Leaf,” said McGregor, who…

GM slows EV production as tax credit nears expiration

General Motors is going to be scaling back production of the Cadillac Lyriq and Vistiq, as well as the Chevy Bolt EV as it expects sales of electric vehicles to slow dramatically. The $7,500 consumer tax credit for purchasing a new EV is set to expire at the end of the month. That credit has been crucial to driving demand for EVs, which are still more expensive than their gas-powered counterparts. The company is pausing production on the Lyriq a…

GM Cutting EV Production In Anticipation Of EV Tax Credit Elimination Sept. 30

DETROIT – Despite back-to-back record sales months, GM said on Thursday that it’s now planning to build fewer electric vehicles, including the new Chevy Bolt EV that’s not even out yet. GM’s sudden shift comes as it prepares for what it calls “irrational” EV discounts to expire at the end of September. GM cuts EV production as drastic discounts expire GM sold over 21,000 electric vehicles in August, the most it has ever sold in a single month. A…