U.S. to Scrap EV Buyer Incentives by Sept. 30, Sparking Pre-Deadline Sales Rush

The U.S. federal tax credit program for electric vehicle purchases will sunset on September 30, eliminating incentives of up to $7,500 for new cars and $4,000 for used models. This policy shift has triggered a surge in demand as consumers race to capitalize on expiring benefits.

Analysts anticipate a short-term sales spike followed by slower adoption rates, particularly among price-sensitive buyers. The decision marks a stark departure from global trends, with China continuing to bolster its EV sector through sustained subsidies.

Congress justifies the rollback by projecting $169 billion in long-term savings. The MOVE concludes a 15-year bipartisan initiative originally designed to reduce oil dependence and promote clean energy—a policy framework that underwent significant expansions before its abrupt termination.