Tax credit for EV buyers expires soon

(CNN)– Time is running out to get one of those big electric-vehicle tax credits.

Under President Trump’s spending and tax package, the $75,000 federal tax credit for EV-buyers ends October 1st.

In recent weeks some buyers have rushed to get deals ahead of the looming deadline.

Industry insiders predict that losing the tax credit will likely cause a sharp drop in sales.

However a Cox Automotive survey found most buyers who want an EV will still get one, even without the credit.