Reported about 18 hours ago
Prospective buyers of electric vehicles (EVs) from Tesla, GM, and Ford can breathe easier, as new IRS guidance allows them to qualify for a $7,500 federal tax credit if they sign a binding contract and make a payment by September 30, 2025. This change provides flexibility for EV purchases, with the ability to claim the credit even if delivery occurs after the deadline. As a result, July saw a surge in EV sales, and the market is expected to remain strong ahead of the tax credit expiration, although sales are likely to decline significantly in Q4 without the incentive.
Source: YAHOO