Cadillac and Chevrolet have joined automaker Tesla in reaching 200,000 electric vehicle sales in the United States — their EV models will now qualify for federal tax credits of up to $3,750.
The federal government’s Zero Emission Vehicle Incentive Program means each automaker’s eligible plug-in vehicles can receive a tax credit of up to $7,500 (based on vehicle battery size) until 200,000 eligible vehicles per manufacturer are registered in the U.S. After this point, the credit for that particular manufacturer will be reduced and phased out over time.
As of April 2019, Tesla, Cadillac, and Chevrolet have reached 200,000 sales, so models now have a reduced tax credit value of $3,750. Tesla buyers have until the end of June 2019 to receive the credit before it is further reduced; Cadillac and Chevrolet buyers have until the end of September 2019. After that, buyers can receive a tax credit up to $1,875.
Remember, EV incentives can be stacked — the Oregon Department of Environmental Quality is offering rebates of up to $5,000 for EV buyers in Oregon. Some local utilities are also offering rebates for their customers. Check out Oregon’s current incentives.