Ford, GM Buy Dealer EVs After Credit Expires

A $7,500 federal electric-vehicle tax credit expired on Sept. 30, 2025, and the IRS says the credits are not available for vehicles acquired after that date. The expiration sparked a late-summer buying rush that pushed battery-electric vehicles to about 10% of U.S. deliveries and boosted third-quarter sales for automakers including Ford and GM. To preserve lease deals, Ford and GM used their finance arms to buy qualifying EVs from dealer inventory so retail leases can carry a $7,500 discount through the end of the year; Hyundai has offered cash and price cuts on some Ioniq 5 models. Executives warned the market could shrink without the subsidy — Ford CEO Jim Farley and Nissan’s Christian Meunier predicted steep declines, and academic estimates suggest registrations could fall roughly 27% absent the credit. Dealers and manufacturers report heavy inventory and shifting strategies, with some dealers pulling back and automakers recalibrating product plans and emphasizing hybrids and gasoline models.