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General Motors'
electric goals are catching up to
Tesla
.
Thecan you overseed in the summer American car company
reportedly
reached 200,000 electric vehicle sales in the U.S. since it started selling the zero-emission vehicles. A company spokesperson said official numbers would be released Thursday. That number is significant, because once a car maker reaches 200,000 electric vehicles sold, a hefty federal tax credit starts phasing out.
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Trump's White House just gave you another reason to buy an electric car right now
Tesla hit the threshold in July, so the $7,500 began to
phase out
on Dec. 31. As of Jan. 1, buyers can apply for the credit for only $3,750. For GM, the subsidy will fully disappear in April 2020,
according to Reuters
. For would-be GM car buyers, now's the time to buy an electric vehicle to apply for the full $7,500 tax credit. It will be halved by July.
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