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Trump Ends EV Tax Credits, Sparks Sales Surge

7/8/2025

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Summary

Story summary

President Trump signed the "Big Beautiful Bill" on July 4, terminating federal EV tax credits effective September 30.
The $7,500 credit for new EVs and $4,000 for used EVs will cease, likely raising EV prices.
Analysts anticipate a spike in EV sales before the deadline, followed by a possible decline in registrations.
Canadian automakers are advocating for the removal of their zero-emission vehicle mandate due to U.S. tariffs affecting exports.

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Story summary

President Trump signed the "Big Beautiful Bill" on July 4, terminating federal EV tax credits effective September 30.
The $7,500 credit for new EVs and $4,000 for used EVs will cease, likely raising EV prices.
Analysts anticipate a spike in EV sales before the deadline, followed by a possible decline in registrations.
Canadian automakers are advocating for the removal of their zero-emission vehicle mandate due to U.S. tariffs affecting exports.