US EV Tax Credits Expire September 30, Impacting Buyers and Industry

The $7,500 federal tax credit for new electric vehicles and $4,000 for used EVs is set to expire at the end of September due to recent legislation, prompting potential buyers to accelerate their purchases to benefit from the subsidy. Experts advise researching inventory and timing purchases before the deadline, as well as considering alternative incentives like a new $10,000 interest deduction for qualifying new cars. The expiration could impact EV sales and prices, but used EVs and hybrid models may offer alternative options.