Incoming Trump admin's stance on EV tax credit spurs November sales surge as buyers rush to qualify.

The federal EV tax credit, worth up to $7,500, faces uncertainty under the incoming Trump administration, which views it as wasteful spending. This uncertainty has led to a 10% increase in EV sales in November, as buyers rush to secure the tax credit. While the credit has been in place since the Bush administration, changes to it would require congressional action, but the Trump administration could alter the rules to make it harder to access. States like California may still offer incentives if the federal credit is cut, and analysts suggest buying now while the tax credit is available. The incoming administration may also close a loophole that has made leasing EVs particularly attractive.

3 months ago
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