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IRA EV tax credits winning over more auto dealers in 2024

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According to the United States (US) Treasury Department, more auto dealers are signing up for the point-of-sale electric vehicle tax credit. In November 2023, the US Treasury announced that car dealers would receive direct tax credit payments, enabling them to offer customers immediate rebates at the point of sale.

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Tesla Model 3 LR AWD now qualifies for Point of Sale $7,500 EV tax credit

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Tesla’s Model 3 Long Range All-Wheel-Drive configuration has appeared on the list of vehicles qualifying for the IRS’s $7,500 electric vehicle tax credit, enabling carbuyers to get their rebate in a new Point of Sale method that the agency announced late last year. Buying an EV?

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How to Get the Federal Clean Vehicle Tax Credit This Year

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The United States federal government has made it even easier to buy a new or used electric vehicle (EV). 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. Here’s what you need to know.

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Upcoming Changes to the Clean Vehicle Tax Credit Explained

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To encourage clean and energy-efficient vehicle adoption, the United States government has made significant changes to the Clean Vehicle tax credit, to take effect from January 1, 2024. These changes make it easier for drivers to access tax credits when purchasing clean vehicles.

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How Do the Used and Commercial Clean Vehicle Tax Credits Work?

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Usually when discussing federal electric vehicle tax credits in the United States , most people are referring to the Clean Vehicle Credit (formerly the Qualified Plug-in Electric Drive Motor Vehicle Credit) for new EVs. But that’s not the only federal tax credit for buying an EV.

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General Motors sidesteps loss of EV tax credit to offer big discounts for customers

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General Motors is sidestepping the loss of the electric vehicle tax credit on its vehicles and will still offer a big $7,500 discount on cars for customers. In December, GM said it would temporarily lose eligibility for the credit on some of its cars. can qualify for EV tax credits.

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Buying an EV? You won’t have to wait for your tax credit anymore in 2024

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Government expanded the electric vehicle tax credit program and access to those credits to help dealers expand their businesses and consumers take advantage of cost savings for buying an EV. Vehicles that qualify for this new guidance under the IRA must be purchased under the consumer clean vehicle credit.