PHOENIX (AZFamily) — Electric vehicle sales are surging, according to a CARFAX analysis, as car shoppers race to claim tax credits before they expire at the end of the month.
For years, drivers have been able to claim tax credits of up to $7,500 for new EVs and plug-in hybrid vehicles and up to $4,000 for used clean vehicles.
“EVs and hybrids are selling about 30% faster than they were at the beginning of the summer,” said Em Nguyen, a spokesperson for CARFAX.
Despite tariffs and the spike in demand, the price of EVs and plug-in hybrids is holding steady at dealerships.
“Right now, they have a lot of EVs and plug-in hybrids sitting on their inventory on their lots, and they are smart. They want to get rid of this inventory before it hits that deadline, because at that point, movin