<br><br>**Breaking News General Motors Abandons EV Tax Credit Program**<br><br>As professionals in the artistic world, we are accustomed to staying abreast of industry trends and innovations. However, even the most forward-thinking companies can encounter roadblocks. In this case, General Motors (GM) has opted to abandon its plan to claim last-minute tax credits for electric-vehicle leases.<br><br>**Background The Penultimate Program**<br><br>Before delving into the specifics of GM's decision, let us first establish the context. The company had devised a plan to enable its dealers to continue offering a $7,500 tax credit for several months on electric-vehicle leases following the September 30 expiration of the federal subsidy.<br><br>**Key Points**<br><br>• **GM's In-House Lending Arm** GM planned to initiate the purchase of EVs in its dealers' inventory and apply for the federal $7,500 credit on those cars.<br>• **Rolling the Credit into Lease Terms** The company would then roll that money into EV lease terms for customers through the end of the year.<br><br>**The Reason Behind GM's Decision**<br><br>It appears that concerns were raised about the program by Republican Senator Bernie Moreno of Ohio, a former car dealer who is active in auto policy. Despite initial plans to proceed with the program, GM ultimately decided to scrap it altogether.<br><br>**Implications for the Industry A Shift in EV Sales**<br><br>• **EV Sales Expected to Plummet** Auto executives, dealers, and analysts predict that EV sales will drop significantly following the expiration of the tax credit.<br>• **Dealers Left High and Dry** Dealers who had been counting on the program to move inventory may be left with a surplus of unsold vehicles.<br><br>**What's Next Staying Ahead of the Curve**<br><br>As we navigate this new landscape, it is crucial for artists to stay informed about industry developments. Whether you are an artist or art enthusiast, staying ahead of the curve can help you make more informed decisions and capitalize on opportunities.<br><br>**Actionable Steps**<br><br>• **Stay Informed** Keep a keen eye on industry news and trends to stay ahead of the game.<br>• **Be Prepared** Be prepared for changes in the market and be flexible enough to adapt to new developments.<br>• **Keep Calm and Carry On** Remember that even the best-laid plans can go awry. Stay calm, and keep working towards your goals.<br><br>**Summary**<br><br>In conclusion, GM's decision to abandon its EV tax credit program is a significant development in the automotive industry. As artists and professionals, it is essential to stay informed about these changes and be prepared for what's next. Whether you are an artist or art enthusiast, staying ahead of the curve can help you make more informed decisions and capitalize on opportunities.<br><br>**SEO Optimization**<br><br>* Target keywords General Motors, EV tax credit, electric-vehicle leases, automotive industry<br>* Meta description GM scraps its plan to claim last-minute tax credits for electric-vehicle leases, leaving dealers and customers in limbo. Stay informed about the latest developments in the automotive industry.<br>* Header tags <h1>Breaking News General Motors Abandons EV Tax Credit Program</h1>, <h2>Main Points</h2>, <h3>Why Did GM Backtrack?</h3><br><br>**Word Count** approximately 450 words
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