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Episode #1159: Today we dig into how Ford and GM are stretching the $7,500 EV lease credit, why used EVs are suddenly flying off lots, and how ChatGPT just became a digital storefront.

• With the federal $7,500 EV lease incentive ending today, GM and Ford are using a strategic workaround to extend the benefit for customers—and keep EV momentum alive—into Q4.
  • To skirt the deadline, both automakers’ finance arms (GM Financial and Ford Credit) are pre-acquiring qualifying EVs and making down payments to preserve the lease credit.
  • GM dealers must sign up by Sept. 30; Ford required dealer opt-in by Sept. 26.
  • Ford is sweetening the pot with a $1,000 bonus to dealers for every EV leased under the program by year’s end.
  • IRS guidance allows the credit to apply if a vehicle is “acquired” via written contract and payment—even if not delivered until later.
  • The workaround applies to Cadillac, Chevy, GMC EVs for GM, and select Ford EVs like the Mustang Mach-E and F-150 Lightning.

• With new EV incentives vanishing and prices still sky-high, the used electric vehicle market is having a moment. Once thought of as a luxury-only experiment, used EVs are now affordable, available, and—surprisingly—desirable.
  • Sales of used EVs jumped 34% through June and used EV prices have fallen to near parity with gas cars, averaging $34,700 as of August and 
  • One buyer snagged a 2024 Mustang Mach-E GT for $33K—a 40% drop from last year’s new sticker price.
  • Three-year lease returns from 2022’s EV boom are flooding the market with modern, tech-packed vehicles, and used EVs have a 36 day supply, compared to 42 for ICE cars.
  • In some cases, used EVs are cheaper than their gas-powered siblings—like a Toyota bZ4X undercutting a RAV4 by $6,600.

• OpenAI just upgraded ChatGPT from chatbot to checkout lane. With the launch of Instant Checkout, U.S. users can now buy products directly inside a conversation—starting with Etsy and soon expanding to over a million Shopify merchants.
  • Users ask for recommendations (e.g., “running shoes under $100”), tap “Buy,” confirm details, and check out—all without leaving the chat.
  • The feature is powered by the new Agentic Commerce Protocol, co-developed with Stripe, and built to make AI a native part of the shopping experience.
  • Payments use encrypted “Shared Payment Tokens” via Stripe, keeping buyer credentials safe while allowing instant, single-item purchases. OpenAI earns a small cut from each transaction.
  • Etsy shares jumped 16% and Shopify rose 6% following the launch, signaling big market enthusiasm.

0:00 Intro with Paul J Daly and Michael Cirillo
0:31 Huge Launch Announcement Tomorrow at morethancars.com
3:20 GM, Ford Financial Arms Acquire EVs To Capture Tax Credit
6:35 Used EVs Reach Price Parity With Used I

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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