General Motors Says It Believes Cadillac Lyriq, Chevrolet Blazer EV Will Temporarily Lose U.S Electric Vehicle Tax Credit Jan. 1
Portfolio Pulse from Benzinga Newsdesk
General Motors has announced that two of its electric vehicles, the Cadillac Lyriq and Chevrolet Blazer EV, are expected to temporarily lose eligibility for the U.S. electric vehicle tax credit starting January 1, according to a company statement.
December 21, 2023 | 7:24 pm
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General Motors expects the Cadillac Lyriq and Chevrolet Blazer EV to temporarily lose eligibility for the U.S. EV tax credit, which could affect demand for these models and potentially impact GM's electric vehicle sales.
The loss of the tax credit could make the Cadillac Lyriq and Chevrolet Blazer EV less attractive to consumers compared to other EVs that still qualify for the credit. This could lead to a short-term decrease in demand and sales for these specific models, negatively impacting GM's revenue from its electric vehicle segment.
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