Consumers are buying up electric vehicles ahead of the Inflation Reduction Act’s tax credit expiration amid strong demand and tight inventory.
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Electric vehicle sales dipped in the second quarter, despite record incentives and a growing model lineup. The market braces for a federal tax credit phase-out that could skew sales trends.
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The electric vehicle market looked like a grab bag of trends as industry pressures and market dynamics shift.
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Only 16 models are now eligible for a full or partial tax credit, which will factor into the vehicle choices for private- and public-sector fleets as well as the vast American retail vehicle market.
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