GM hit 200,000 U.S. electric vehicles sold in 2018

Dianchè Bertone BSS GT One

Dianchè Bertone BSS GT One

Tesla's vehicle deliveries fell short of Wall Street analysts' expectations as the Silicon Valley automaker wrestles with the realization that its federal tax credits are quickly running out. Finally, the benefit will disappear entirely in April 2020.

GM declined to comment to both Roadshow and Reuters because its quarterly sales figures will be released on Thursday.

USA automaker General Motors will soon lose the ability to offer customers a discount on its electric vehicles, as Tesla cuts prices on all of its models to combat the same issue.

It was widely expected the automaker would hit 200,000 in sales by early 2019. The credit will be cut in half to $3,750 for the next six months, then it will be cut in half again for another six months until it is phased out completely.

So while electric vehicles are certainly taking off, the most immediate result might be that they get a little tougher to buy. The company has sold somewhere around 130,000 Leaf EVs so far.

Redmi 7 with 48 MP camera arriving on January 10
Leaked posters that surfaced before hinted that the Redmi Pro 2 could be powered by a Snapdragon 675 SoC made on 11nm process. Redmi Pro was a high-end variant in the Redmi series, though it was limited to the China market and did not launch in India.

Meanwhile, shares of Tesla plunged on Wednesday after the electric automaker announced it was slashing the price of its vehicles by $2,000 to combat the phasing out of the same federal tax credit.

In March, GM chief executive Mary Barra called on Congress to expand the consumer tax credit for electric vehicles as the company boosted production of the EV Bolt in response to consumer demand.

GM said in November it was doubling resources allocated to developing electric and self-driving vehicles as part of a significant restructuring that includes ending production at five North American plants.

In November, a congressional report said 57,066 taxpayers claimed $375 million in EV tax credits in 2016.

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