Earlier this year, GM hit a designated sales threshold of a cumulative 200,000 vehicles which triggers a phase-out of the $7,500 federal tax credit for electric vehicles. This means credit will be halved to $3,750 in April, and fall further to $1,875 in October before being completely eliminated in April 2020.
In order to take advantage of the full $7,500 tax credit (based on your eligibility via having equivalent tax liability), be sure to purchase a Chevy Bolt EV or Chevy Volt no later than March 31, 2019.
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