Overview

• GM confirmed it will not claim the expired federal EV tax credit, saying only that it decided against the plan without offering further explanation.
• The shelved approach would have used GM’s finance arm to buy dealer EV inventory before the deadline to capture credits and pass the value into lease terms, reportedly covering tens of thousands of vehicles.
• The federal $7,500 clean-vehicle credit ended on Sept. 30, which spurred last-minute leasing and captive-finance strategies across the industry.
• GM will fund promotional lease terms through the end of October worth about $6,000 per vehicle, according to Electrek citing a company spokesperson.
• Ford pursued a similar pre-deadline program, with its current status unclear per Reuters, while Electrek reports some competitors intend to continue lease-based savings.