The effects of the Biden administration’s Inflation Reduction Act can already be seen in various ways in the EV market. And one of them, recent data suggests, is an abrupt uptick this year in the portion of EVs leased rather than bought. While the IRA re-upped the federal EV tax credit of up to $7,500 for qualifying vehicles, it established... EV leasing has surged: Is it subsidized by Biden’s leasing loophole?
The effects of the Biden administration’s Inflation Reduction Act can already be seen in various ways in the EV market. And one of them, recent data suggests, is an abrupt uptick this year in the portion of EVs leased rather than bought. While the IRA re-upped the federal EV tax credit of up to $7,500 for qualifying vehicles, it established...