"Americans bought nearly half a million battery-powered cars in the third quarter, rushing to claim federal tax credits of up to $7,500 before they expire on Sept. 30. The research firm Cox Automotive projected on Thursday that EV sales will hit 410,000 for the quarter, pushing the electric share of the U.S. car market to a landmark 10% for the first time ever."
"Cox had expected that milestone by year's end, but it arrived a quarter early thanks to sweeping EV policy changes under the Trump administration. Photo by: Kevin Williams/InsideEVs The end of the tax credits sparked an unmistakable pre-expiration rush as consumers and dealers moved quickly to lock in benefits before the incentives phased out, Stephanie Valdez Streaty, the director of industry insights at Cox Automotive, told reporters during a sales forecast call on Thursday."
Record electric-vehicle adoption occurred despite economic turmoil and trade disruptions. Americans bought nearly half a million battery-powered cars in the third quarter as consumers rushed to claim up to $7,500 in federal clean vehicle tax credits before Sept. 30. Cox Automotive projected about 410,000 EV sales for the quarter, lifting the electric share of the U.S. car market to 10% for the first time, a milestone arriving a quarter early due to sweeping EV policy changes under the Trump administration. The looming end of credits prompted a pre-expiration rush by consumers and dealers, while automakers offered aggressive lease, financing, cash-back, and trade-in incentives. Additional developments include Tesla urging preservation of tailpipe-emissions regulations and the Trump administration seeking a stake in America's largest lithium mining project.
#electric-vehicles #federal-tax-credits #automotive-market-trends #emissions-regulation #lithium-mining
Read at insideevs.com
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