A Little Good News for Ford and GM Investors

The U.S. government's authorized $7,500 tax credit for electric vehicle (EV) purchases is now officially no more (it ended Sept. 30). That created a significant pull ahead in EV demand as interested buyers raced to take advantage of the incentive on the available inventory. For automakers, it offered an opportunity to unload some inventory, because the last place any automaker wanted to be was loaded with excess EV inventory once October hit.The good news is that Ford Motor Company (NYSE: F) and General Motors (NYSE: GM) both benefited from the added sales for the third quarter. Interestingly, they also found a way to perhaps extend the federal tax credit beyond the deadline through a clever program.Because of the threatened loss of the $7,500 EV tax incentive, Ford's EV sales jumped 30% year over year to 30,612, good enough for a Q3 record. That result helped Ford's U.S. light vehicle sales jump 8.5% higher, divided between a 9.4% gain in the Ford brand and a 7.6% decline in Lincoln volume. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool