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Kia shatters US sales record again with its first three-row electric SUV picking up steam

Baua Electric

Kia just set another US sales record in August, with more cars sold than in any month in company history. As demand for its first three-row electric SUV, the EV9 , continues to build, Kia’s EV sales climbed 27% from last year. Kia credited higher demand for SUVs and EVs for the record-breaking performance.

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Tesla rivals face rising inventory — and it’s becoming an issue

Teslarati

A survey from Cox Automotive estimates that electric vehicle sales in the US auto market could surpass 1 million units for the first time in 2023. Electric cars currently account for about 6.5% For context, dealers have about 54 days’ worth of inventory for gasoline-powered cars.

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Kia overtakes Hyundai in US electric vehicle sales in Q2 as its new EV9 sparks growth

Baua Electric

Kia’s first three-row electric SUV is already fueling a sales spike. Although Kia’s new electric SUV is receiving most of the attention, sales of its first dedicated electric car, the EV6, were also up nearly 40% in Q2. With the $7,500 federal tax credit, prices could fall to as low as $48,995.

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What EV Drivers Should Know About Leasing an EV This Year

Blink Charging

Although the $7,500 consumer tax credit for buying an electric car is becoming more restrictive for new vehicles adhering to specific manufacturing requirements , there’s a provision enabling consumers to still enjoy the credit when leasing an EV assembled outside of North America.

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Lease Buyout Offers Loophole to EV Incentive Restrictions

EV Life

As we enter the age of the electric car, federal and state governments have created a variety of programs , rebates, and grants to incentivize drivers to make the switch to zero-emission vehicles. Two sections of the law, 30D and 45W, detail individual tax credits and commercial tax credits, respectively.

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Hyundai fast-tracks start of EV production in the US as it gains recognition with its own day

Baua Electric

The automaker now expects to begin building electric cars in the US in the fourth quarter of 2024, with the grand opening in the first quarter of next year. Hyundai initially planned to begin production early next year, but the automaker is plowing ahead with the $7,500 federal tax credit on the line.

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Hyundai Brand News for 2024 and 2025

Clean Fleet Report

Scheduled to be in dealers in fall 2024, it will be eligible for a $3,750 U.S. tax credit at start of sale. If leasing, all Ioniq 5 models qualify for the $7,500 credit that Hyundai passes on to consumers. If leasing, all Ioniq 5 models qualify for the $7,500 credit that Hyundai passes on to consumers.

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