General Motors is getting closer to the 200,000 EV cap for the $7,500 federal tax incentive. Still estimates suggests that they may have until early 2019 before the incentive is cut off but consequences for the Bolt EV could be stark.
To date, GM has sold about 186,670 Chevy Bolt and Spark EVs, as well as the Volt plug-in hybrids and Cadillac CT6 plug-in hybrids, according to data from Edmunds. Consequently, GM expects to hit the 200,000 limit this year, but the analysts says at the current selling rate, GM probably has until the first quarter of 2019.
No matter when, the major carmaker will be the second to reach the limit of subsidised electric cars in the States. Tesla is already in the stage of phase-out of the tax credit as they had hit the 200,000 unit limit last month reportedly.
A new bill had been presented in the U.S. Congress to remove the 200,000 unit cap on access to the 7,500 dollar tax credit (we reported). It is unclear however of the bill is going to result in a law change any time soon.