The IRS has extended the $7,500 EV tax credit for Tesla and other automakers, with the new expiration date set for September 30. $TSLA
EV rebates are expiring at the end of September— Dealers are racing to sell through while incentives last. Attention is now shifting to what October looks like, when subsidies reset and used EV trade-ins continue showing heavy depreciation. Alan Brown, General Manager of https://t.co/H1PtIcJBtA
The $7,500 electric vehicle tax credit for Tesla and other automakers has been extended, with a new deadline set for September 30. The IRS has granted additional time for eligibility. $TSLA
California is preparing to advance its electric vehicle (EV) adoption goals despite the expiration of federal tax credits at the end of September 2025. The California Air Resources Board issued a report on August 19 recommending the state implement measures to replace the federal incentives, such as point-of-sale rebates, vouchers, and other credits, to sustain new EV sales. The current federal tax credit offers $7,500 for new EV purchases and $4,000 for used EVs, but these incentives will end on September 30, although the IRS has extended the deadline for Tesla and other automakers until that date. California officials are also considering additional incentives like discounted Express Lane access and the return of high-occupancy vehicle (HOV) lane privileges for zero-emission drivers. While a Politico poll indicates that 64% of California voters support EV tax incentives, there is some skepticism about sales mandates. Dealers are currently accelerating sales to capitalize on the remaining federal incentives, but concerns remain about the financial impact on the state and the depreciation of used EV trade-ins once subsidies expire. The state’s approach aims to maintain momentum in EV adoption without federal assistance, but the financial burden and voter acceptance remain key challenges.