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Thousands of auto dealers sign up to offer new on-the-spot tax credit

Electrek

New year, new rules: As of January 1, things are about to get a little easier when it comes to getting your federal tax credit for buying an electric vehicle. And auto dealers are signing up in droves with the IRS. moreā€¦ The post Thousands of auto dealers sign up to offer new on-the-spot tax credit appeared first on Electrek.

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Fisker scraps direct sales and turns to auto dealers for sales

Teslarati

The startup is now turning to auto dealerships for sales and services. We decided we would rather give that money to a dealer so that we could expand faster,” said Henrik Fisker, the CEO, President, and Chairman of the EV startup. Fisker wants auto dealers to sell the company’s all-electric Ocean crossover.

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Tax credits are good, but on-the-spot tax credits are really killing it

Electrek

The new year rolled out a new plan where EV shoppers could get on-the-spot tax rebates when purchasing a new electric vehicle, with auto dealers then handling the paperwork and waiting to get reimbursed by the government.

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Survey Shows Auto Dealers Still Annoyed With Biden EV Strategy

The Truth About Cars

According to the 2024 Dealer Outlook Survey, 83 percent of respondents said the government was pushing the transition toward EVs too quickly and mucking up the auto market. About half of all dealerships also said they never bothered to register with the IRS to more easily facilitate EV tax credit exchanges.

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How to Get the Federal Clean Vehicle Tax Credit This Year

Blink Charging

The latest Clean Vehicle Tax Credits can be applied to the purchase of a new or used EV at the point of sale as of January 1, 2024. The Clean Vehicle Tax Credit for new EVs is worth up to $7,500 and the Previously Owned Clean Vehicle Tax Credit is worth up to $4,000.

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Biden Administration mulls over reprieve from EV tax credits for automakers

Teslarati

The reprieve would concern the eligibility of electric vehicles for the IRAā€™s tax incentives. One of the biggest concerns about the IRAā€™s requirements for EV tax credit eligibly regards battery packs, cells, and the materials used to manufacture them. The Teslarati team would appreciate hearing from you.

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Dealers Finally Have EV Inventory But Now Lack Buyers

The Truth About Cars

Weā€™ve been hearing about the rise of electric vehicles for years, but while they are growing rapidly in number, thereā€™s still a disconnect between an auto industry hell-bent on electrification and the desires of the people they rely on to buy new cars.

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