Ford and GM Extend $7,500 EV Tax Credit Beyond September 30 Deadline
Ford and General Motors have announced plans to continue offering the $7,500 federal electric vehicle tax credit through leasing programs beyond the September 30, 2025, expiration date.
Ford and General Motors (GM) have announced initiatives to extend the availability of the $7,500 federal electric vehicle (EV) tax credit beyond its scheduled expiration on September 30, 2025. Both automakers plan to implement leasing programs that will allow customers to continue benefiting from the tax incentive.
According to a report from Reuters, Ford and GM's financing units will provide down payments to dealers, enabling vehicles to qualify for the federal tax credit through leasing arrangements. A dealer briefed on the program indicated that this approach would make the vehicles eligible for the $7,500 credit.
In a statement to Reuters, GM confirmed its collaboration with dealers to extend the tax credit for leases. Similarly, Ford is working with its dealers to offer competitive EV lease payments through Ford Credit until December 31, 2025.
The federal EV tax credit, which has been instrumental in promoting electric vehicle adoption, is set to expire on September 30, 2025, following recent legislative changes. By extending the credit through leasing programs, Ford and GM aim to maintain the momentum of EV sales and provide continued financial incentives for consumers considering electric vehicles.
Source
ElectrekFact-checking
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