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Ford, GM Working On Extending $7500 EV Credit Extension Beyond Trump's September 30 Deadline: Report - General Motors (NYSE:GM)
Benzinga· 2025-09-30 04:44
Group 1: EV Credit Extension Efforts - Ford Motor Co. and General Motors Co. are reportedly working on programs to extend the IRA EV credit beyond the September 30 deadline set by President Trump [1][2] - The companies' financing arms are initiating purchases of EVs by making down payments to dealers, allowing retailers to offer leases with the EV credit included [2] - Ford plans to provide incentives to customers until the end of the year, while GM is collaborating with dealers to offer EV incentives [3] Group 2: Political and Market Reactions - California Governor Gavin Newsom criticized GM for opposing the state's EV initiatives, stating that GM CEO Mary Barra "sold us out" [4] - Honda Motor Co. announced the cancellation of the Acura ZDX EV due to decreased EV demand, despite clarifying that this decision does not reflect on GM's commitment or the workforce at the Spring Hill plant [4][5] Group 3: Financing Strategies - Ford is offering low-interest loans on the F-150 pickup truck to customers with below-average credit scores (FICO scores below 620) through September, aiming to mitigate the impact of Trump's auto tariffs [6]