Automakers Extend $7,500 EV Discount After Federal Subsidy Expires

Automakers including General Motors Co., Hyundai Motor Co. and Ford Motor Co. said they would extend discounts on certain electric models after a $7,500 federal tax credit expired Tuesday, a bid to maintain momentum after a surge in third-quarter sales.

Car companies are stepping in to preserve discounts and smooth the sell-down of existing EV inventory after the federal EV subsidy phased out Sept. 30. GM, Ford and Jeep-owner Stellantis NV are making the $7,500 discount available for leased vehicles that are in transit or on dealer lots. The offers from Hyundai and Stellantis apply to leases and purchases; the Korean automaker will kick in $7,500 in cash for the 2025 version of its Ioniq 5; it’s also lowering the price of the 2026 model by as much as $9,800, depending on the trim.