Name: Major deals on electric vehicles
Uploaded: 2025-09-23T16:57:41.119Z
Duration: 2 min 49 s
Description: The federal tax credit on electric vehicles ends next week. Some dealers are now offering huge deals to sell the cars before the tax credit expires.

The federal tax credit on electric vehicles ends next week. Some dealers are now offering huge deals to sell the cars before the tax credit expires.

Car dealerships in the United States are offering substantial discounts on electric vehicles as the federal tax credit of $7,500 is set to expire. Some dealers have reduced lease rates to as low as $40 per month in an effort to clear inventory before the deadline. 

Industry experts note that electric vehicles currently make up about 7% of new car sales, with many buyers motivated by available incentives. The expiration of the federal tax credit, set by a recent tax bill, is expected to significantly affect sales, with projections of a sharp decline in EV purchases following the deadline.

Major deals on electric vehicles

Hey car buyers, listen up time is running out to get a great deal on an electric vehicle. The federal tax credits on EVs will end next week and some car dealers are having what amounts to be a fire sale. Chris Van Cleve has more. Hey Chris, good morning. So how good are these deals, huh? Well good morning. In some cases you can see lease rates at $100 a month or even far less than that as dealers are really looking to move as many EVs off their lots as possible before the end of the month even if that means they're losing money. It's a race against the calendar at Emick Volkswagen in Denver, a sprint to move as many electric vehicles off the lot before the $7,500 federal tax credit expires at the end of the month. To do it, the dealer has been offering lease rates as low as $40 a month. I'm getting an electric vehicle now. It's because of this tax credit. Stephen Hines says he'll save about $400 each month over his last car payment. Just knowing that this was the last month, I feel like I'm really squeaking in and being able to get one. While automakers bet big on EVs, electric vehicles now make up only about 7% of new car sales fueled by federal and local incentives in states like Colorado in addition to the steep discounting happening this month at dealerships nationwide. I mean this deal is absurd and it's never going to happen again. The question now, what will the phasing out of federal tax credits mean for EV sales come October? And that's going to have a big effect on sales. Economist Patrick Anderson closely follows the auto industry. Do you expect EV sales to fall off a cliff October 1? They can't fall off a cliff because they're not very high. Okay, so they're going to fall off a small hill because that's as high as they got. Already this year, automakers have slowed their production of EVs, pivoting to more popular gas and hybrid vehicles. We'll sell more EVs in 2026 in the United States than we're going to sell this year. Is it growing as fast as maybe what we thought it would a couple of years ago? No. It's a flatter kind of curve. Tim Hovick owns Santan Ford outside Phoenix, one of Ford's biggest sellers of EVs nationally. A September of 25 could end up being the single biggest EV month in history. Followed by October, which could be one of the worst EV months. Now don't say that out loud. We're not looking that direction. But that's the concern, right? It is the concern. It could be challenging. And that concern is because about half of people who bought EVs last year did it because of the incentives on the vehicle they purchased. Why is this ending now? Well, it's because of the tax bill the president signed back in July, set a September 30 deadline, Nate. So if you come down today, I'm sure we can get you a deal. All right, I appreciate it. I know you always got the hook up, Chris. Thank you.

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