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EV Buyers Race To Beat Sept. 30 Tax Credit Deadline As Sales Set Quarterly Record

Analysts expect a sharp post‑deadline slump despite forecasts of longer‑term growth from cheaper models plus improving batteries.

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Overview

  • The $7,500 federal EV tax credit ends Sept. 30 under the Trump-backed One Big Beautiful Bill, removing a decade-old demand incentive.
  • A pre-deadline rush lifted third-quarter U.S. EV sales to an estimated 410,000 and roughly 10–12% market share, aided by aggressive discounts that pushed average EV prices below comparable gas cars in August.
  • Dealers and automakers escalated lease and finance deals, cash-back offers and trade-in bonuses to move inventory before the cutoff, with several brands reporting sharp summer gains.
  • J.D. Power and other forecasters warn of a steep October drop as pull‑forward fades, though manufacturer incentives could partially cushion the decline.
  • Tesla filed official comments urging the EPA to retain the 2009 Endangerment Finding that underpins tailpipe rules and a lucrative credit market, and California’s governor said the state will not replace the federal rebate.