""This dramatic rise highlights how crucial the leasing credit has been in promoting EV adoption," Stephanie Valdez Streaty, Cox's director of industry insights, said in an email."
"Just 11.5% of the new EVs that changed hands in 2022 were leased, according to data from Cox Automotive. In 2024, the EV leasing rate had jumped to over 45%âmore than double the industry-wide percentage."
"If it goes away as one House committee has proposed, so does a primary fuel source driving America's transition to EVs."
"Through a wrinkle known as the 'leasing loophole,' this sleepy-sounding policy has kicked off an epic EV-leasing boom."
The article discusses the importance of three federal electric vehicle tax credits under threat from House Republicans, emphasizing the implications of ending the leasing credit (45W). The established $7,500 rebate (30D) and newer $4,000 secondhand EV incentive (25E) play substantial roles in fostering EV adoption. Notably, leasing has surged, with rates increasing from 11.5% in 2022 to over 45% in 2024, underscoring its significance in driving record sales of battery-powered vehicles. Eliminating these credits could jeopardize the future growth of America's EV market.
Read at InsideEVs
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