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Today on Green Car Reports: Georgia may kill its $5,000 electric-cartaxcredit, Ohio cardealers renew their legislative fight against Tesla Motors, and 2010 through 2014 Toyota Prius hybrids are being recalled. All this and more on Green Car Reports.
So, I may be getting ahead of myself by discussing upcoming EV taxcredits. As currently written, they’d give GM and Tesla buyers access to the taxcredits again, but give US-made and […].
Taxcredits for electriccars are changing on January 1, 2024 and there will be winners and losers as manufacturers scramble to adjust. The post Some GM, Ford Models Will Lose EV Incentives While Some Buick And Ford Dealers Refuse To Sell ElectricCars appeared first on CleanTechnica.
The Mercedes-Benz MY14 B-Class Electric Drive ( earlier post )—the first electric offering for the brand in the United States—is priced at $41,450, excluding $925 destination and delivery. Customers may be eligible for federal taxcredits (which run up to $7,500) or state/local taxcredits.
And dealers can sell extended warranties, providing additional security for consumers who want it as well as revenue when auto companies need it most. Plug In America's legislative director Jay Friedland further noted that the existing $7,500 Federal taxcredit for plug-in vehicles would further reduce the Volt’s cost.
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. Electriccars currently account for about 6.5% For context, dealers have about 54 days’ worth of inventory for gasoline-powered cars.
The bill puts forth several measures aimed at advancing decarbonization in the state, including taxcredits for industrial facilities to implement emission-reducing improvements, new spending for geothermal energy projects and geothermal electricity generation, the construction of sustainable aviation fuel production facilities, and more.
CR noted that the study’s results showed that consumers exhibit a broad interest in clean vehicles, with 34% of car dealership shoppers being interested in information about hybrids, plug-in hybrids, and battery electriccars. They need help navigating the rapid technological change occurring in the car market.
Common wisdom has it that the last few days of any calendar year are the best time to buy a car. Not only are franchised dealers and their salespeople seeking to close out the month with a bang, but it's the end of a year and their allocation of cars next year can depend on how many they sell this year.
You can score a 2023 Chevy Bolt EV for under $20,000 with new IRS rules allowing you to use the taxcredit as a down payment. You can buy a Chevy Bolt EV for under $20,000 Rather than waiting until next year’s tax return, you can now use the EV taxcredit at the point of sale. But you may want to act fast.
In a sudden reversal, Hyundais new IONIQ 5 and IONIQ 9 EVs no longer qualify for the $7,500 US taxcredit. Although this is a major blow to one of the top-selling EV brands in the US, there is still a way you can get the credit. Meanwhile, Hyundai is still passing the $7,500 EV taxcredit on through leasing.
Used-cardealers carefully watch auctions to find cars in less demand elsewhere that they can sell locally for more money. Now, a used-cardealer in Boulder, Colorado, has made. Think Subarus in the Northeast or the Rocky Mountains, convertibles in Florida, and pickup trucks in Texas.
We might start to get some great used electriccar deals starting in 2026 as EV lease returns are expected to surge in a big way. The post Used electriccar deals are coming as lease returns expected to surge appeared first on Bauaelectric EV News. That is going to be the year of the used EV.
In June about 500 cars were placed in consumer and fleet hands in Los Angeles and New York and New Jersey for what BMW calls a " field trial." Like all the automakers, BMW dabbled in concept electriccars over the years. The ZEV program shouldn’t be doling out credits for cars on the road for merely one year.
Although the $7,500 consumer taxcredit for buying an electriccar 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.
We’ve completely reimagined EV Life’s vehicle page design to help you shop for electriccars, understand charging, plan trips, estimate incentives, and save $200/mo on an EV Climate Loan—all in one place. (A EV Life makes it easier to find and finance your electriccar. Save on Dealer Pricing and EV Climate Loans.
The intention is to make the company’s two electriccar offerings more attractive to consumers, especially those that are looking for an affordable alternative to a gasoline-powered car. Same car, less cost. Significant Price Reduction Repositions Entry-Level EV. Bolt EUV $28,195 ($34,495). But it is more than that.
Ford’s battery manufacturing is supposed to be done by licensing technology from China’s Contemporary Amperex Technology Co (CATL) and the issue has raised questions about national security and whether or not subsequent Ford products would be eligible for federal taxcredits that are now tied to regional content requirements.
Tesla’s results suggest that concerns surrounding supply chain disruptions and weak consumer demand for electriccars are gradually dissipating. While the overall car sales to dealers are projected to decline by 5.9% The favorable conditions in the market are not exclusive to Tesla.
As we enter the age of the electriccar, 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 taxcredits and commercial taxcredits, respectively.
As per the government policy that said 30% of all new car sales being electric by 2030 which means 1.7 million electriccars on Australian roads. Also read related article: Electric bicycles: Hero & Yamaha JV, Proposed US taxcredit for electric bicycles.
Scheduled to be in dealers in fall 2024, it will be eligible for a $3,750 U.S. taxcredit at start of sale. If leasing, all Ioniq 5 models qualify for the $7,500 credit that Hyundai passes on to consumers. The XRT joins the Ioniq 5 N performance EV, creatomg a third Ioniq 5 variant.
The answer, which I was able to get to elevator-pitch length, is that Polestar is the all-electric division of Volvo Cars, and the Polestar 2 is its first all-electriccar here in the States. Federal and state taxcredits could reduce the price you pay. Even less if your state also offers a taxcredit.
This is before the $7,500 federal taxcredit. Nissan is not alone in going electric. maker of Subaru cars, began leasing electriccars in Japan. owned 10 percent by Daimler AG, received a $465 million government loan to help bring its $57,400 Model S electric sedan to market. Dealers excited.
What’s more, the Bolt EV is eligible for a variety of federal and state taxcredits, rebates, and incentives that can potentially bring the price down to zero for qualifying drivers. Applicants can receive a non-refundable taxcredit of up to $7,500. Don’t expect much help from car dealerships.
Although Kia’s new electric SUV is receiving most of the attention, sales of its first dedicated electriccar, the EV6, were also up nearly 40% in Q2. Kia EV9 GT-Line (Source: Kia) Starting under $55,000 (not including destination), Kia’s three-row electric SUV is helping revamp the brand in the US. Discover for yourself.
The automaker now expects to begin building electriccars 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 taxcredit on the line.
Hyundai expects to sell around 300,000 electriccars in 2024, or about 12% growth from last year. Hyundai accelerated construction to take advantage of government incentives like the $7,500 taxcredit. 2024 Hyundai Kona EV (Source: Hyundai) Hyundai also introduced the redesigned Kona Electric this year.
Moving past Production Hell After delivering 75,883 electriccars last year, GM missed its goal of selling 100,000 EVs in the second half of 2023. You can use our links below to view deals on new 2024 Chevy EV models at a dealer near you. GM’s delayed rollouts were caused by software issues, freight delays, and other factors.
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. With over 75,200 vehicles sold in August , Kia broke its US sales record for the second consecutive month.
After a record-breaking month in May , with EV sales doubling, Kia hit a new record with 29,392 electriccars sold in the first half of 2024. After deliveries kicked off in December, sales of Kia’s three-row EV9 electric SUV reached 9,671 through the first half of the year. Have you been eyeing Kia’s new electric vehicles?
Automakers must change perspective “It’s important to consider that women tend to have the final say on family car decisions and electriccars have not been family oriented enough,” Sinclair said. Mothers are driving the kids, the dog, and lots of stuff around town and there haven’t been a lot of electric minivans.
The philosophy of quality and expectations need to be met, as Genesis is an unknown entity to much of the car buying public. This extends into the dealerships–there are three stand-alone Genesis dealers in the country with many more coming on-line in 2023–where they engage customers with immersion and education.
Buying an electriccar with at least 300 miles of range is getting more affordable than ever. Several automakers, including Hyundai , Kia, and Tesla, are now offering long-range EVs (those with at least 300 miles range) that are cheaper to buy than the average gas-powered car in the US.
Those lucky enough to live in California have the opportunity to own one of the nicest electriccars on the road. Powered by compressed hydrogen gas, the 2022 Toyota Mirai makes electricity onboard to drive the electric motor. No plugging in to an electrical outlet. XLE $50,595 Limited $67,095.
While Kia’s current EV models, including the EV6 and EV9, are building momentum, even more exciting electriccars are coming soon. It will be made at Kia’s GA plant alongside the EV9 to qualify for the federal taxcredit. Ready to check out Kia’s electric vehicles for yourself?
A New Day “100-percent Electric, 100-percent Italian” is how Fiat describes the all-new 500e. It’s scheduled to be on sale at North American Fiat dealers by early summer 2024. Possibly bigger news is the 500 will now only come with electric propulsion, dropping the gasoline engine completely.
Note: Under the Inflation Reduction Act , the MSRP of electric vehicles must be $80,000 or less for SUVs, vans, and trucks. All other electric vehicles must be $55,000 or less. But, there are other caveats and restrictions to qualify for a federal taxcredit, or a state taxcredit, so speak with your CPA before visiting an Audi dealer.
The First Edition is sold out, but the GT and GT Performance hit dealers in the fall 2021. The all-new, all-electric 2021 Ford Mustang Mach-E GT has a base price of $61,095, and the GT Performance is $66,095. Federal and state taxcredits could reduce your final price, and in some states it will qualify for a HOV sticker.
Not head-snapping, but certainly a rewarding sensation which only an electriccar can provide, and plenty fast enough to merge into freeway traffic. Contact your tax advisor before considering a Leaf purchase so you are completely clear on the taxcredits and rebates. We guarantee they will be pleased to see you.
Note: Under the Inflation Reduction Act , the MSRP of electric vehicles must be $80,000 or less for SUVs, vans and trucks. All other electric vehicles must be $55,000 or less. But, there are other caveats and restrictions to qualify for a federal taxcredit, or a state taxcredit, so speak with your CPA before visiting an Audi dealer.
Toyota is now leasing its one all-electriccar, the bZ4X, for just $129/mo and $2k down. Toyota has been dipping its toe into the EV water, mostly focusing on hybrids rather than electriccars. In this case, the automaker files for the credit and offers lower lease payments to the customer.
The next few years will see an onrush of electric vehicles, with the SUV class getting the majority of the new models. Having already established a strong reputation with its Kona SUV and Ioniq sedan EVs, next up is the all-new and impressive 2022 Ioniq 5 EV, arriving at Hyundai dealers later this month (December 2021).
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