- BMW and Stellantis have joined General Motors and Ford in extending a $7,500 discount to make up for the federal government’s retired tax credit
BMW and Stellantis (parent company of Dodge, Jeep, Ram, and other brands) will offer $7,500 discounts on electric vehicles (EVs) now that the federal government no longer does.
The two join General Motors and Ford in finding creative ways to extend a discount to match the faded federal incentive.
The federal government offered a tax incentive of up to $7,500 off the purchase or lease of many new EVs as part of a program meant to encourage automakers to shift factories and supply chains to the U.S. The federal incentive ended when October began, torpedoed by a new law pushed by President Trump.
Automakers sold record numbers of EVs in the third quarter as the deadline approached. But analysts from Kelley Blue Book parent company Cox Automotive expect fourth-quarter EV sales to plummet as the discount fades. EV sales will likely find a new level and begin growing slowly sometime next year.
So, some automakers are trying to keep it going — at least until dealers can sell down some of the inventory they currently hold.
BMW’s website shows a $7,500 discount on all of its current EVs, with a note that buyers “must take delivery by October 31st, 2025.”
The Detroit Free Press reports that Stellantis will do the same. Rather than setting a specific end date, the site Mopar Insiders notes, the company will offer the discount “at least through the end of 2025, as long as dealer inventory lasts.”
