Overview

• The federal clean-vehicle credit worth up to $7,500 for new EVs and $4,000 for used models ends Sept. 30 under the One Big Beautiful Bill.
• Dealers report depleted stock and faster sell-through as shoppers accelerate purchases, with J.D. Power tracking EVs at about 12% of September sales and Cox projecting roughly 410,000 Q3 deliveries for a 10% share.
• IRS guidance allows buyers to lock in eligibility by signing binding contracts or completing point-of-sale payment arrangements before the deadline, even if delivery occurs later.
• Automakers and dealers rolled out aggressive lease, finance and cash incentives to bridge the subsidy loss, pushing August EV transaction prices slightly below comparable gas vehicles.
• Industry watchers expect a notable Q4 slowdown, with added pressure from tariffs and no replacement rebate from California, then a 2026 rebound as lower-cost models and pricing adjustments arrive.