Overview
- Federal incentives of $7,500 for new EVs and $4,000 for used models expire Sept. 30 under President Donald Trump’s One Big Beautiful Bill Act.
- You can still qualify if you signed a binding contract and made a payment by Sept. 30, per IRS guidance, even if delivery occurs later.
- Ford and GM launched dealer programs in recent days in which their finance arms pre-purchase inventory to capture the $7,500 commercial lease credit, allowing dealers to offer lease rates reflecting that benefit for months.
- A pull‑forward surge set records, with August EVs at 9.9% share and Cox forecasting about 410,000 EVs sold in Q3, as automakers layered heavy incentives that averaged over $9,000 on EVs.
- Executives and analysts expect sales to cool starting in October, and several automakers have already adjusted plans with plant downtime, shift cuts or model changes, while states and manufacturers may use rebates or pricing to soften the blow.