GM hits electric vehicle tax credit threshold, phase-out to start in April

[Morgen]

After Tesla last year, GM has become the second automaker to deliver 200,000 electric vehicles in the US – triggering the phase-out of the $7,500 tax credit.

Potential Bolt EV and Volt buyers have until the end of March to take delivery in order to claim the full tax credit.
GM had already been guiding that it would the threshold in the fourth quarter of 2018, but it has now confirmed it with the release of its delivery results.

The automaker delivered 6,212 Bolt EVs and 5,063 Volts in the US during the fourth quarter.

Based on the tax code, the phase-out starts after the end of the quarter following the quarter in which an automaker delivers its 200,000th electric vehicle in the US.

Tesla delivered its 200,000th electric vehicle in the US at the beginning of July 2018, which resulted in the phase-out starting in January.

For GM, it will start in April – the start of Q2 2019.
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Interestingly, the timing of the tax credit phase-out for GM coincides with the end of the production of the Volt.

https://electrek.co/2019/01/03/gm-hit-electric-vehicle-tax-credit-threshold-phase-out-april/?fbclid=IwAR3SuYldZjtdx-7QJk2j9F1eHX8inVYk_1OVWj-iR7CDQ31t_w32lr-wCPE