Car manufacturer Ford and GM launch program to expand the use of American EV lease credit

Ford and General Motors are running to sign up to car dealers for those programs that according to dealers and documents, will effectively increase the use of $ 7,500 USD tax credit on electric vehicles lease beyond the end of the federal subsidy.

In recent times, each company has rolled out programs for its retailers, under which the financing branch of the automaker has started the purchase of EVS in the inventory of dealers by paying on them, which have been told about the pre -unrestricted programs and documents from the companies.

According to documents and dealers, the federal $ 7,500 on those vehicles will qualify the weapons lending for the tax credit.

From there, the dealers offer lease lease to retail customers on cars, which are as usual for several more months, factor is made in the lease rate with $ 7,500 subsidy.

The aim of the programs is to soften the effect of the disappearance of tax credit, which have been over 15 years to encourage EV adoption.

GM said in a statement to Reuters on Monday, “We worked with our GM dealers on an extended proposal to benefit from tax credit for EVS leases.”

Ford stated that it was working to provide Ford EV customers with competitive lease payments on retail leases via Ford Credit by 31 December.

Dealers, auto authorities and analysts have predicted that EV sales and lease will decline after the end of tax credit on Tuesday, to defeat the deadline from buyers after a crowd on EVS in recent months.

US President Donald Trump’s large -scale tax bill, signed in July, set the date of September 30 for subsidy.

It was not clear that other vehicle manufacturers were following a similar strategy to expand the period through which they could avail tax credit to sell their EVS.

According to three people familiar with the discussion, Ford and GM prepared their programs after discussion with the authorities in the Internal Revenue Service. An IRS spokesperson did not respond to the recommendation of the comment immediately.

In August, IRS stated that vehicles should be purchased by 30 September to qualify for $ 7,500 USD tax credit.

“You can demonstrate the acquisition by entering into a binding written contract and paying on the vehicle on or before 30 September,” the agency said.