GM and Ford have found an ingenious trick to extend the electric vehicle tax credits that were set to end in October. The automakers used their financing companies to make down payments on vehicles in stock, thereby locking in these savings for future lessees.
Today’s Automotive News
In progress test: The 2025 Genesis G80 3.5T Sport Prestige, a large sedan with exceptional comfort that is undergoing an in-depth review.
The financial maneuver by GM and Ford allows the electric vehicle tax benefits to be maintained despite the regulatory deadline. A smart business strategy to support demand.
Impact on the Automotive Market
The announced end of tax credits boosted sales for Hyundai and Kia, with a 14% increase for Hyundai and 11% for Kia. Hyundai’s electric vehicles saw a spectacular growth of 153%.
Tesla unveils a new Model Y Performance with improved range and a 0 to 100 km/h in 3.3 seconds.
Performance and Technical Recalls
The Lucid Air Sapphire sets a new acceleration record with a 0 to 100 km/h in 1.881 seconds, becoming the fastest car ever tested.
BMW recalls 145,000 vehicles in the United States due to fire risk related to an overheating starter, affecting 340i, X5, and X7 models.
Automotive Industry Developments
Automotive supplier ZF cuts 7,600 jobs in its electric transmission department, reflecting declining European demand.
Hertz launches fully online vehicle purchasing, with a rigorous 115-point inspection and a limited warranty of 12 months or 20,000 km.