GM posts record EV sales but warns of imminent downturn

General Motors achieved record monthly electric vehicle (EV) sales in August with more than 21,000 units sold across its Chevrolet, Cadillac, and GMC brands as consumers rushed to secure US$7,500 federal tax credits before they expire. The good times may soon come to an end, however, and the automaker warns that the incentive's elimination from 30 September will likely lead to a “smaller EV market for a while”.