July was the second-best month for US EV sales, led by Tesla price cuts

Description

Tesla price cuts following the Federal tax incentive on the EV industry have driven up EV sales, with July recording the second-highest monthly total. The federal $7500 EV tax incentive is set to end on October 1 under Trump’s administration policy. Elon Musk’s automotive company led the sales record following price reduction across its EVs, including cuts of up to $5000 on its best-selling Model Y. According to Cox Automotive data , the average transaction price for a new electric car in the U....