Ford and GM are both backing off their effort to continue offering the $7,500 electric vehicle tax credit to customers through the end of the year, Reuters is reporting.

Last week, it was revealed that the automakers were working with their respective dealer networks on short-term programs that would allow customers to continue to receive the tax credit on leased EVs through the rest of the year. With the tax credit expiring on September 30th, Ford and GM were hoping to keep offering the discount to customers for a short while in order to buoy EV sales.

Ford and GM took a different approach

While automakers including Hyundai and Stellantis have offered cash incentives to bridge the gap for buyers, Ford and GM took a different approach. They sought to buy EVs from their own dealers by ha

See Full Page