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The success of the US electric vehicle tax credit program is helping to increase demand

April 15, 2024

Sales of electric cars in the United States of America have witnessed a significant increase since the beginning of this year, driven by the advance tax credits program for consumers, which allows buyers to obtain immediate tax credits when purchasing electric cars. Which makes its cost reasonable.

The advance tax credits program for electric cars in America has achieved remarkable success since its implementation in January 2024. The US government paid more than $580 million to car dealers, after receiving 100,000 applications to sell electric cars.

This success is attributed to the high demand for these cars, as 85,000 buyers requested advance tax exemptions for new electric cars, while 15,000 customers requested to buy used cars and benefit from the exemptions allocated to them.

US Treasury Department spokesman Harris Talwar confirmed that the increased demand for purchasing electric cars in America came as a result of tax exemptions, and this led to new electric cars taking up 85% of advance tax exemption requests.

Some models, such as the Volkswagen ID4 and Nissan Leaf, have been re-listed on the list of cars eligible for exemptions.