We would all buy more new cars if the feds gave us $7500 towards the purchase.
As you can see here, only Tesla and GM have sold enough plug-in vehicles for the credits to start phasing out. For Tesla, the phase out started on January 1, 2019. That’s when the $7,500 credit was cut in half to $3,750, and it stayed there until June 30. For the second half of 2019, the tax credits for Tesla EVs were just $1,875.