GM has scrapped a plan that would have temporarily extended access to the $7,500 federal EV tax credit for leased vehicles, reversing course roughly a week after the subsidy officially expired late last month.
The program was originally expected to enable GM dealers to offer the $7,500 incentive through GM Financial, the automaker’s captive finance arm, which would essentially purchase eligible electric vehicles from dealer inventories before the deadline. By doing so, GM could claim the credit on those vehicles and pass the savings on to customers through lease deals after the federal incentive officially expired on September 30th, 2025.
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