US EditionWhat to Know About Buying Electric Vehicles After the Federal Tax Incentives End
- On July 3, a bill was forwarded to President Donald Trump that would terminate the $7,500 federal tax credit and leasing incentives for electric vehicles by September 30.
- This action follows decisions by the Trump administration to eliminate federal EV subsidies amid relaxed emissions rules and budget constraints.
- The tax credits had made EVs more affordable, applied at point of sale since January 2024, sparking interest though prices remain relatively high and OEMs face price adjustment challenges.
- Analysts predict a near-term spike in EV sales as buyers rush to pre-buy before credit cuts, but forecasts expect U.S. EV market share to fall to 27% by 2030, with adoption two years behind previous estimates.
- The bill’s passage may slow EV adoption in the U.S., disproportionately impacting lower-income consumers and risking a shift toward internal combustion vehicles, while global EV growth continues.
77 Articles
77 Articles
Thinking of buying an EV? Your tax credit window is closing
Buying or leasing an electric vehicle (EV) will no longer come with a federal tax credit. On Thursday, Congress approved legislation, which Trump has called the “big, beautiful bill.” The bill will give tax breaks to corporations and cut spending on Medicaid by $1.2 trillion. After Trump signs it into law on the 4th of July, it also will end tax credits on buying or leasing EVs, effective Sept. 30. Since 2008, purchasing an electric vehicle has …
Trump's tax plan won't help Tesla, but 2 other EV companies got a stock boost
Rivian and Lucid could gain from Trump's new tax bill.SOPA Images/GettyRivian and Lucid stocks rose after Trump's tax bill passed in the House.The bill extends 2017 tax cuts and ends $7,500 EV tax credits in the fall.Analysts say the credit cut could decrease Tesla's sales volume even further.President Donald Trump's tax bill led to a big stock boost for two Tesla rivals.American electric vehicle makers Rivian and Lucid rose as much as 4.6% and …
What To Know About Buying Electric Vehicles After The Federal Tax Incentives End
The massive tax and spending cut bill that Congress passed Thursday ends federal tax incentives for electric vehicles. Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated. But experts say there are still strong financial reasons to consider buying the vehicles even without those incentives. Before the bill passed, new electric vehicles came with a $7,500 federal tax credit, and used EVs included up…
You’re running out of time to buy an EV before Trump’s big bill kills the $7,500 tax credit on electric vehicles
The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that passed the House of Representatives on Thursday. Article Attribution | Read More at Article Source The post You’re running out of time to buy an EV before Trump’s big bill kills the $7,500 tax credit on electric vehicles appeared first on RocketNews.
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