Ford, GM Use Leasing ‘Loophole’ to Extend $7,500 EV Tax Credit

Group 1 - Ford Motor Company and General Motors Company have initiated programs to extend the $7,500 US federal tax credit on EV leases just before its expiration on September 30 [1][2] - Industry experts predict a significant drop in EV sales and leasing following the end of the tax credit, especially after a surge in purchases to beat the deadline [2] - The automakers' financing arms, such as Ford Credit and GM Financial, are making down payments on EVs in dealer inventory to qualify for the tax credit, allowing dealers to offer leases with the full subsidy factored into reduced rates [3] Group 2 - Ford operates through several segments including Ford Blue, Ford Model e, Ford Pro, and Ford Credit, while General Motors operates through GM North America, GM International, Cruise, and GM Financial [4]