Originally Published: 23 SEP 25 07:00 ET

(CNN) — Sales of electric vehicles in the United States are almost certain to tumble when the $7,500 federal tax credit for EV buyers expires on October 1, leaving automakers and car buyers wondering where prices will go.

The tax credit, which was passed in 2022 as part of the Biden administration’s legislative push to support EVs and green energy, is going away as part of President Donald Trump’s broad spending and tax bill that passed in July. The move came after US EV sales in 2024 rose 7% to 1.6 million , according to the Bureau of Transportation Statistics (BTS).

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The end of the EV tax credit means demand for electric vehicles is expected to fall, which means prices in real t

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