Ford and General Motors have introduced new programs aimed at extending the use of the $7,500 U.S. tax credit on electric vehicle leases beyond the subsidy’s expiration date. EV companies including Tesla have been desperate to secure car sales before the expiration of the tax credit, demonstrating their importance in the EV buying decision.
Reuters reports that in a bid to mitigate the impact of the expiring $7,500 federal tax credit on EV leases, automotive giants Ford and GM have launched desperate attempts to effectively extend the subsidy’s use. The programs, rolled out to their respective dealers in recent days, involve the automakers’ financing arms initiating the purchase of EVs from dealers’ inventory by making down payments on them.
Under these schemes, the down payments made by the lending arms will qualify them for the $7,500 tax credit on the vehicles. Dealers will then offer leases on those cars to retail customers as usual for several more months, with the $7,500 subsidy factored into the lease rate. This move is expected to soften the blow of the tax credit’s disappearance, which has been in place for over 15 years to encourage EV adoption.
President Donald Trump’s Big Beautiful Bill set September 30, 2025, as the cutoff for the EV subsidy, leading to predictions of a significant drop in EV sales and leasing. Dealers, auto executives, and analysts anticipate a plummet in demand following the subsidy’s end, after a recent rush on EVs from buyers seeking to beat the deadline.
Breitbart News previously reported on EV makers panicking over the loss of a massive incentive to buy an electric vehicle:
In response to the looming deadline, Tesla and Ford are taking proactive measures to capitalize on the last-minute surge in demand. Tesla’s website prominently features a banner warning potential buyers about the expiring tax credit and urging them to take delivery by the end of September. Elon Musk’s EV giant is also reportedly sending out emails to would-be customers, emphasizing the importance of completing their purchases before the deadline to qualify for the $7,500 discount.
Read more at Reuters here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
