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2w ago

Tax-Credit Rush Fuels August EV Sales Records as Automakers Brace for a Fall Slowdown

Automakers expect a pullback after the $7,500 U.S. EV tax credit expires on Sept. 30.

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS/Rebecca Cook/File Photo
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Overview

  • GM sold more than 21,000 EVs in the U.S., its best month on record, and said discounts are fading and output will be trimmed to avoid overproduction.
  • Tesla’s U.S. sales reached an estimated 55,500 in August, a 2025 monthly high, according to Motor Intelligence.
  • Ford, Kia, and Hyundai posted strong August results with EVs contributing materially as buyers moved to purchase before incentives lapse.
  • UK data showed EVs at 26.5% of August car sales, while Tesla registrations fell sharply across much of Europe, including a 39% drop in Germany, with Norway a notable exception.
  • BloombergNEF cut its U.S. plug‑in outlook, estimating 14 million fewer EVs on the road between 2025 and 2030 than previously forecast.