EV sales surge ahead of federal incentives expiration

TL/DR –

Federal consumer incentives of up to $7,500 to buy or lease new and used electric and hybrid vehicles in the U.S. will soon be phased out. The Biden administration’s Inflation Reduction Act of 2022 intended for these breaks to continue until 2032, but they will now expire on September 30th, 2025, under the Republican-passed Big Beautiful Bill. Despite this, electric vehicle sales are breaking records in Florida and nationwide, and nonprofit Veloz is working to educate consumers about their options.

Federal Incentives for Electric and Hybrid Vehicles Set to Expire by 2025

The consumer incentives currently available for individuals purchasing or leasing new and used electric and hybrid vehicles are on the verge of disappearing. These incentives, which could reach up to $7,500, were initially projected to continue until 2032 as part of the “Inflation Reduction Act of 2022” proposed by the Biden administration.

However, these plans have been altered due to the Republican-backed “Big Beautiful Bill” which mandates the expiration of these incentives by September 30, 2025.

EV Sales are on the Rise Nationwide

Despite the impending discontinuation of these federal incentives, sales of electric vehicles (EVs) are breaking records, both within Florida and across the nation. The nonprofit organization Veloz has been actively educating interested consumers to make informed choices about transitioning to electric vehicles.

Veloz’s Executive Director, Josh Boone, had an enlightening conversation with WGCU’s Marc Garber. He began by explaining the translation of “Veloz”.

It’s important to note that Veloz does not endorse, promote, or support any specific car manufacturer.

For more information about Electric Vehicles, you can visit the interactive “Electric For All” website.

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