US EV Industry Transforms as Expired Incentives Become New Reality
After years of supporting American electric vehicles, federal tax credits purchases ended on October 1st and eliminated tax incentives for both new and used electric cars. Although buyers rushed to complete purchases before the deadline and created a temporary sales surge, the U.S. electric vehicle market is facing demand uncertainty now that the subsidies that allowed costly EVs to be price competitive with gas-powered cars are no more. Manufacturers have begun deploying various strategies to maintain electric vehicle sales momentum. Ford and General Motors will keep providing $7,500 lease incentives as they acquired vehicles before the federal tax incentives expired.…