Eighty-seven percent of shoppers who drove home a new electric vehicle (EV) in the U.S. so far in 2024 took advantage of a federal tax credit of up to $7,500, according to a new study.
J.D. Power researchers found that 64% of those who bought or leased a luxury EV “say that tax credits and other incentives were a primary driver of their decision.”
“On average, consumers purchasing or leasing a new EV in 2024 saved $5,124 thanks to federal EV tax incentives,” the researchers write. “That’s up from $4,302 in 2023 and $1,629 in 2022.”
