The $7,500 tax credit on most electric vehicles expires on September 30th.  If you have ever considered an EV, does this mean you should make a move now?

Ohio

Federal tax credits for electric vehicles (EVs) are set to expire soon, leading to a notable increase in customer interest at dealerships. Buyers currently have the opportunity to claim up to $7,500 in tax credits, and in some cases, combine these with other incentives for total savings exceeding $10,000.

Industry analysts expect EV sales to decline after the credits expire, as the current incentives have played a significant role in driving demand. Experts advise those considering a conventional or hybrid vehicle to wait until after the credits end, as prices may adjust. Potential buyers are weighing the benefits and drawbacks of EVs, including performance and range limitations.

EV credits expiring soon: Is now the time to buy?

If you've ever considered buying an EV or just entertained the idea, well now is the time to visit a dealership. That's because you have just two months before those EV tax credits expire. Here at this Hyundai dealership, new EVs are lined up outside, while inside customers like Clinton Lewis are thinking of taking the plunge. No gas, electric, you know, can run off the sun, bring it on. General Manager Mitch Minelli says he's seen a surge of interest the past few weeks, as potential buyers realize they have till just September 30th to claim a $7,500 EV credit. A lot of customers are coming in with some interest due to the, you know, knowledge that the incentive was possibly going away and now in fact is. He says right now you can couple that credit with additional incentives to save over $10,000 on many of these EVs. Carl Brower with iSeeCars says that EV sales may be good at the moment, but they're likely to drop off after the tax credit expires. And I suspect that that's going to settle in around four to five percent of new car sales, about half of what they are right now. EVs make up a small share of the car market, which Brower attributes to their niche role, mainly in certain regions and in multi car households. They'll be implemented where consumers find value in them. They'll be purchased and used and where they don't make sense, consumers won't find value in them. If you're in the market for a conventional or hybrid vehicle, he suggests waiting until the tax credit ends. They don't have to bear the cost and help make the company overall profitable by charging more for those to make up for the money losing EVs. So with just weeks left to claim the credit, buyers like Adam Contino are debating whether to go electric. Pros were quiet, quick off the line. Cons are range anxiety. It's best to consider all your options so you don't waste your money. John Batteries, Scripps News Group.

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Middle East Conflict

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Birmingham

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Breakdown