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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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Hyundai and Kia are gaining a competitive edge ahead of the affordable EV offensive

Baua Electric

After a record 2023, Hyundai and Kia are not slowing down this year. With new tariffs on Chinese EVs, Hyundai and Kia look to gain an edge over their overseas rivals. Hyundai Motor, including Kia, generated a record over $9 billion (KRW 12.27 Kia opened orders for its EV3 in Korea earlier this month, starting at $30,700 (KRW 42.08

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

Teslarati

For context, dealers have about 54 days’ worth of inventory for gasoline-powered cars. The Kia EV6, Hyundai Ioniq 5, and Nissan Ariya are also seeing their inventories stacking up. The Ford Mustang Mach-E is a bit of an outlier since it qualifies for the federal tax credit, but it still has a surplus of inventory anyway.

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Cost Parity?: Two Dozen EVs “Available” in the US Start At Less Than $45,000

EV Adoption

One of the top hurdles to EV adoption in the US is the often touted issue that EVs simply cost more than similar gas-powered vehicles. Nine of these EVs have a base MSRP of less than $35,000 and another nine would have a net effective price below $30,000 when factoring in the applicable federal EV tax credit. Cost Parity?

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Hyundai, Tesla pave the way for long-range (+300 mi) EV prices falling below average gas cars

Baua Electric

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. Hyundai, Kia, and Tesla models with at least 300 miles of range cost less than popular gas cars like the Toyota Camry or Rav4.

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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. The XRT joins the Ioniq 5 N performance EV, creatomg a third Ioniq 5 variant.

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News: 2023 Chevrolet Bolt EV/EUV Get Big Price Drop

Clean Fleet Report

The intention is to make the company’s two electric car offerings more attractive to consumers, especially those that are looking for an affordable alternative to a gasoline-powered car. At this price point the Bolt will be able to be positioned against other small EVs—such as the Kia Niro and Nissan Leaf, rather than its brand siblings.