CadillacCT6 | ChevroletBolt | ChevroletVolt

GM may hit 200,000 EV federal tax credit limit late 2018 or early 2019

General Motors may soon cross the 200,000 car limit for the US government’s US$7,500 federal tax credit for plug-in hybrid and fully electric cars.

Until the end of Q3 2018, GM has sold 186,670 qualifying Chevrolet Bolt and Spark EVs, Chevrolet Volt and Cadillac CT6 plug-in hybrids.

GM says it will likely cross the 200,000 threshold by the end of 2018. Edmunds has told The Detroit News that at current selling rates GM may not cross the mark until the first quarter of 2019.

Tesla’s already sold over 200,000 qualifying electric cars. Only buyers who receive their new Tesla cars before the end of 2018 will receive the full US$7,500 tax credit. For the first half of 2019, Teslas will only qualify for a US$3,750 credit. In the second half of 2019 this drops to just US$1,875.

Source: The Detroit News