General Motors, Hyundai, and Ford are extending discounts on select EVs after the US$7,500 federal EV tax credit expired on September 30, 2025.

The automakers are introducing incentives to clear inventory and maintain sales momentum following a Q3 surge.

GM and Ford will continue applying the US$7,500 discount to leased vehicles that are in transit or already at dealerships.

Hyundai will offer a US$7,500 cash rebate on the 2025 Ioniq 5 and cut prices on the 2026 model by up to US$9,800.

Analysts expect slower EV sales growth as new US tariffs raise costs by up to US$5,500 on imports and US$1,000 on domestic models with imported parts.

🔗 Source: Bloomberg