"As a reminder, the tax credit for new electric and plug-in hybrid vehicles ended on September 30, but Ford and General Motors said they would pass along the savings to potential customers by allowing dealers to buy the EVs in their inventory and claim the federal tax credit. Then, the cars would have been leased with the tax credit already factored into the final price."
"Ford follows in GM's footsteps, which also said it would extend the lease credit, but then changed its mind. "Ford will not claim the EV tax credit but will maintain the competitive lease payments we have in the market today," a spokesperson told Reuters. Currently, the American automaker's lending arm, Ford Credit, offers 0% financing for 72 months on new EVs, as well as other incentives, according to the company's spokesperson."
Ford canceled a program designed to extend the $7,500 federal tax credit on new EV leases by enabling dealers to buy inventory and claim the credit. The federal tax credit for new electric and plug-in hybrid vehicles ended on September 30. Ford and General Motors initially planned to pass savings to consumers by having dealers claim credits and lease cars with the credit factored into price. GM also abandoned a similar plan and will self-fund lease incentives until the end of October. Ford said it will not claim the EV tax credit but will keep competitive lease payments and offers 0% financing for 72 months. Discussions occurred with the IRS. The reason for Ford's reversal remains unclear.
Read at insideevs.com
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