Overview

• House approved the Big Beautiful Bill on July 3–4 to terminate $7,500 new and $4,000 used EV tax credits effective September 30.
• Consumers have until the end of September to secure federal incentives, fueling a flurry of last-minute EV orders.
• Barclays analyst Dan Levy predicts a sharp post-expiry sales drop and says automakers may trim EV production to avoid excess inventory.
• Slate Auto, which had priced its pickup “under $20,000,” now lists it in the mid-$20,000s range to reflect the loss of the credit.
• The legislation also removes penalties for missing fuel-efficiency targets; Harvard research forecasts EV market share at about 37% by 2030 without credits.