At this point, many buyers are taking advantage of the credits at dealerships when they buy a car. In the past, they had to wait to claim it on their taxes the following year. Now, there’s the option of transferring their credit to the dealer and getting an instant rebate.

Automakers are pushing to retain the tax incentives, claiming they’re essential for meeting strict regulations for EV production.

In a surprising development, Tesla is backing Trump's plan to eliminate the $7,500 tax credit for new EV purchases.