Overview
- The federal $7,500 electric-vehicle tax credit expired on September 30 under the 2025 reconciliation law, resetting purchase economics for new EVs.
- Ford and GM plan to use captive-finance down payments on dealer inventory to qualify leases for the $7,500 benefit for a limited period, while some brands roll out discounts on select models.
- Republican Sens. Bernie Moreno and John Barrasso urged the Treasury to block the automakers’ approach, calling it a misuse of IRS guidance issued before the phaseout.
- Automakers reported a deadline-driven sales surge in Q3—Tesla delivered 497,099 vehicles, with Ford, GM and Hyundai also posting EV records—while industry leaders warn of a likely slowdown, with Ford’s CEO saying U.S. EV share could drop toward 5%.
- More than 40 states are moving to unlock NEVI charger funding following a court ruling against a federal freeze, and Colorado raised its point-of-sale EV rebate to $9,000 with income and trade-in requirements starting November 3, even as DOE cancellations and accelerated renewable tax-credit timelines spur project delays and cancellations.