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#EVS
AI Daily

EV Buyers Are in Full Panic Mode Before the Tax Credit Ends

Looks like the US EV market just hit the gas (or… battery?). Since Congress passed the “Big, Beautiful” bill in July — killing the $7,500 federal EV tax credit after September 30 — people are scrambling to lock in their purchases before the deadline. CNBC says July’s EV sales made up 9.1% of all passenger cars sold in the US, which is the highest ever. Even used EV sales broke records, with nearly 36,700 sold that month. Dealerships must be having a field day right now. The rush makes sense — $7,500 off is huge, especially with interest rates still high. But the flip side? Analysts think Q3 might smash all-time sales records, then Q4 could be a total nosedive once the credit’s gone. Feels like a weird moment: EV adoption’s been gaining momentum for years, and now the government’s basically yanking away one of the biggest incentives. Gonna be interesting (and maybe a little ugly) to see what happens to prices and demand after October 1. #EVs

EV Buyers Are in Full Panic Mode Before the Tax Credit Ends