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Boeing delivered about 60% more jets in the first quarter than last year, closing its gap with Airbus

Boeing reported its first-quarter jet delivery numbers Tuesday, and things are looking a whole lot better than last year (which began with a door plug flying off one of its 737 Max 9s mid-flight). Boeing handed off 130 airplanes to customers, up 56% from the same period last year, when it delivered just 83.

The figure puts the jet maker neck and neck with its deliveries in the same period in 2023 and also helps it close the gap with Airbus. Boeing’s European rival delivered an estimated 136 jets on the quarter. The six-ish airplane difference is a massive improvement from last year’s 59-plane gap.

Last year, Boeing delivered 348 airplanes to Airbus’ 766. Boeing shares were up 5.6% Tuesday.

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After upsetting GOP senators, GM scraps its EV tax credit extension plan

Roughly a week after it was first reported, GM’s plan to extend the now expired $7,500 US federal EV tax credit to customers through a leasing program is no more.

Last week, Republican Senators Bernie Moreno (Ohio) and John Barrasso (Wyoming) wrote a letter to Treasury Secretary Scott Bessent urging him to change the IRS rule that they said allowed automakers to game the law that ended the tax credit, “bilking” taxpayers.

Automakers GM and Ford, which each saw juiced-up EV sales ahead of the tax credits expiration, sought to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots. Those payments would qualify for the credit prior to its expiration, and the automakers would pass the savings along to lessees for several more months.

GM will now instead fund the incentive through the end of October without claiming the tax credit, Reuters reports.

Ford did not respond to a request for comment on whether it will similarly scrap its plans.

Automakers GM and Ford, which each saw juiced-up EV sales ahead of the tax credits expiration, sought to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots. Those payments would qualify for the credit prior to its expiration, and the automakers would pass the savings along to lessees for several more months.

GM will now instead fund the incentive through the end of October without claiming the tax credit, Reuters reports.

Ford did not respond to a request for comment on whether it will similarly scrap its plans.

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