GM Backtracks on Plan to Claim Last-Minute EV Tax Credits: Reuters

After upsetting GOP senators, GM scraps its EV tax credit extension plan

GM originally planned to continue offering the EV tax credit through a leasing program....

GM backtracks on plan to claim last-minute EV tax credits

The idea behind the program was to ease the impact of the tax credit expiration on dealers, who worried they would be stuck with tough to sell EVs.

GM backtracks on plan to claim last-minute EV tax credits: Reuters

GM opted to kill the program after Republican Sen. Bernie Moreno raised concerns about it, a person briefed on the matter told Reuters.

GM Ends Extended EV Tax Credit Plan and Offers Its Own Incentive

General Motors Co. has decided not to offer federal tax credits on electric vehicles that were in transit to dealers or on their lots before last month’s expiration of the $7,500 incentive, opting instead to give about $6,000 of its own cash for lease support and to keep EV sales going.

Automakers are getting creative with how to sell EVs in the post-tax credit era

Tesla unveiled a lower-cost version of its Model 3 and Model Y a week after the $7,500 tax credit in the US expired.Kevin Carter/Getty ImagesAutomakers are rethinking how to sell their EVs in the US with the end of the $7,500 tax credit.Tesla unveiled lower-cost, stripped-down trims of the Model 3 and Model Y.Other automakers are either offering discounts or killing EV models outright.EV tax credit season is over. Federal support for EV discount…

Tesla has its best sales quarter ever as EV tax credit expires – TechCrunch

Tesla has its best sales quarter ever as EV tax credit expires  TechCrunch Source link The post Tesla has its best sales quarter ever as EV tax credit expires – TechCrunch first appeared on Online EV Marketplace.