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yesterday

Automakers Race to Lock In EV Buyers Before Federal Credit Expires

Manufacturers from Tesla to Cadillac are rolling out urgent promotions, planning price adjustments to offset the loss of up to $7,500 incentives when credits vanish on Sept. 30.

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Overview

  • President Trump’s One Big Beautiful Bill Act repeals the federal EV tax credit of up to $7,500 for new vehicles and $4,000 for used models after Sept. 30, 2025.
  • Tesla is blitzing customers with emails and website banners warning that vehicles must be delivered by Sept. 30 to qualify, while Ford extended complimentary home charger offers plus zero-down, zero-interest financing on select models.
  • Cadillac’s global vice president says the brand will make pricing, incentive and operational adjustments as it reevaluates strategies following record luxury EV sales.
  • Industry analysts predict a summer surge in EV purchases as buyers rush to place orders and take delivery by Sept. 30 to secure credits, raising the risk of supply and delivery bottlenecks.
  • Removal of the tax credit will increase out-of-pocket costs by up to $7,500 on vehicles like the Tesla Model Y, though some models such as the Chevrolet Equinox EV and Kia EV6 can still cost under $40,000 with credits applied before the deadline.