Benzingaยท2025-10-09 06:20Core Insights - General Motors Co. has decided not to extend incentives on electric vehicles in the U.S. beyond the Federal EV Credit deadline of September 30, following concerns raised by Senator Bernie Moreno [1][2][3] - The automaker's financing arm was previously set to make down payments on dealer inventory to qualify for the tax credit, but this plan has been abandoned [2][4] - Other automakers, including Ford and Stellantis, are still offering incentives to EV buyers, while Hyundai has reduced the price of its Ioniq 5 EV and is providing incentives [5][6] Group 1 - GM's decision not to claim the tax credit was influenced by concerns regarding the use of its financing arm for down payments [2][3] - Senator Moreno expressed satisfaction with GM's decision, highlighting efforts to protect the domestic auto industry [3][4] - GM Financial was initially targeting 20,000 units for the incentive scheme, with over 5% of the vehicle's total value as a down payment [4] Group 2 - Ford is offering low-interest loans to customers with subprime credit ratings for its F-150 pickup truck [6] - Jon McNeill, former Tesla sales chief and current GM board member, believes that EV sales will continue to grow despite the reduction of incentives [7] - GM is noted to have good momentum and value, scoring satisfactorily on quality and growth metrics, with a favorable price trend in the medium and long term [8]