GM is offering customers a $7,500 rebate on certain General Motors electric vehicles in response to the loss of federal tax credit eligibility. Some General Motors EVs became ineligible for the federal tax credit on January 1st, prompting the automaker to offer a customers a direct rebate instead. Affected models include some units of the Chevy Blazer EV and Cadillac Lyriq.
Per a report from CarsDirect, the new rebate will be available through June 3rd via the GM Ultium Promise Program, providing customers with $7,500 in immediate bonus cash for qualifying units of the 2024 Chevy Blazer EV and 2024 Cadillac Lyriq, as well as select examples of the 2023 Cadillac Lyriq still available at some dealerships.
According to GM spokesperson Liz Winter, both EV nameplates will only “temporarily” lose federal tax credit eligibility due to the inclusion of “two minor components.” Winter added that GM is now sourcing qualifying components for inclusion early in 2024.
The $7,500 rebate can be combined with most other incentives, but not lease deals. As CarsDirect points out, this is notable as GM Financial has been boosting residual values for the Chevy Blazer EV, rather than offering lease discounts. What’s more, the Cadillac Lyriq is offered with an additional $1,000 Costco member incentive through February 29th, potentially boosting savings to $8,500 off MSRP.
It’s also worth noting that last month, General Motors issued a stop-delivery order for the 2024 Chevy Blazer EV, as well as units of the ICE-powered 2024 Chevy Blazer, 2024 GMC Terrain, and ICE-powered 2024 Chevy Equinox. The Chevy Blazer EV was among a group of vehicles recalled for a fracturing door striker. More recently, GM issued a stop-sale order for the 2024 Chevy Blazer EV, acknowledging certain issues pertaining to software quality.
Check out our first drive review of the 2024 Chevy Blazer EV to see what the crossover is like behind the wheel.
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