President-elect Donald Trump has said he will move to eliminate the tax credit, possibly as soon as he takes office. While it’s unclear exactly how Trump would eliminate the credit, Drury said he expects it won’t last long into the new administration. But the tax credit is only part of the reason that it could make sense for potential EV buyers to act sooner than later. The glut of EVs and increased competition has led legacy automakers to offer attractive financing terms to try to move the older EV models. “We still have upwards of 20 EV models coming into the market in 2025,” said Chris Hopson, principal automotive analyst for S&P Global.

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Persons: Donald Trump, “, it’s, ”, Ivan Drury, Drury, ” Drury, you’re, Tesla –, Elon Musk, Trump, Musk, Tesla, Chris Hopson, ” Hopson, EVs Organizations: New, New York CNN, Trump, Revenue Service, Edmunds, EV, ” Industry, Alliance, Automotive Innovation, Global, CNN, Motors, Ford, Tesla, P, Environmental, Agency Locations: New York, Edmunds, California