Here Are The EV Winners And Losers Right Before The Tax Credits Died

"The IRA tax credit is done and gone for, but before it ended, lots of EV buyers rushed to cash in before the tax credit evaporated entirely. The tax credits ended in September, but it always takes a few weeks for new car registration data to trickle in. Now, we have a sense of the winners and losers in August. EV registrations were up a whopping 24% that month, but not all models were equally loved, according to reporting from Automotive News."

"The Honda Prologue was among August's biggest winners as registrations jumped 81 percent to 9,005 vehicles. The Prologue was the No. 3 most-popular EV for the month after the Tesla Model Y crossover and Model 3 sedan, S&P Global Mobility said. Registration data serve as a proxy for sales because some EV makers don't separate U.S. results or report sales by model."

Federal EV programs and tax incentives have been canceled, triggering a surge in buyers seeking credits before expiration. The IRA tax credit expired in September, and new-car registration data show a 24 percent increase in EV registrations in August. Mainstream models outperformed luxury EVs. The Honda Prologue rose 81 percent to 9,005 registrations, aided by incentives averaging $12,704 per vehicle in August versus $5,813 a year earlier. Registration data are used as a proxy for sales since many automakers do not report U.S. model-level monthly sales. Several DOE-funded EV projects face potential loss of funding. Polestar closed its last store in China.

Read at insideevs.com