General Motors has sold more than 200,000 plug-in electrified vehicles, which will trigger a phase-out of a federal tax credit for purchasers of $7,500, the Internal Revenue Service has announced.
EV Tax Credit Spared by Congress
Congressional negotiators will spare a $7,500 federal tax credit that has supported sales of plug-in electric vehicles, which was put in place in 2008 and 2009 for plug-in and converted plug-in electric vehicles.