General Motors confirmed that it sold its 200,000th plug-in vehicle in the US during the fourth quarter of 2018, which has triggered a slow phaseout of the $7,500 federal tax credit over the next 15 months. GM is the second automaker to pass this mark; Tesla reached 200,000 vehicles sold in the US last summer.
Customers of GM cars that are eligible for the credit (like the Chevy Bolt or the Cadillac CT6 plug-in hybrid) will only be able to receive a maximum of $3,750 starting on April 1st. The maximum available credit will halve again on October 1st to $1,875, and it will completely phase out six months later in April 2020.
Read the article at The Verge.
The post GM Will be the Second Automaker to Lose the EV Tax Credit appeared first on Fleet Management Weekly.
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