The U.S. Department of the Treasury on Friday posted guidance for battery materials, helping to clarify whether those buying EVs as soon as later next month will be able to claim the $3,750 credit dedicated to this under the new Clean Vehicle Credit. Based on an initial look, the rules will cast a wide net that follows the more liberal definition... Tax credits for many American-made EVs will drop on April 18
The U.S. Department of the Treasury on Friday posted guidance for battery materials, helping to clarify whether those buying EVs as soon as later next month will be able to claim the $3,750 credit dedicated to this under the new Clean Vehicle Credit. Based on an initial look, the rules will cast a wide net that follows the more liberal definition...
Some shoppers for electric vehicles and plug-in hybrids are encountering severe sticker shock this weekend in monthly lease numbers. That’s because versus just a few days ago, a vast swath of EV and PHEV models are no longer eligible for the federal EV tax credit—now known as the Clean Vehicle Credit. On Thursday, Toyota pulled its...
A California incentive for plug-in cars is about to be reduced by half. Effective November 2, the California Clean Fuel Reward (CCFR) for electric cars and plug-in hybrids will go from $1,500 to $750. The program, as recently noted by CarsDirect, requires delivery of a qualifying vehicle by November 1 if buyers want to claim the larger amount...
Although the cheap low-interest or no-interest financing deals for new vehicles have mostly gone away, as the auto industry recalibrates supply to a new coronavirus-recovery norm for demand, many of them are still good through June in the green-car sector—leading to some standout deals for electric cars, plug-in hybrids, and hybrid vehicles...
Austria is offering would-be electric-car owners (and current ones) a tempting incentive to go tailpipe-emissions-free: permission to drive faster than those with gasoline, diesel, or hybrid vehicles. Under a recently approved amendment to the country’s speed limits, aimed at rewarding those who choose electric vehicles, they will be given a...
The government of Ontario amended its plug-in electric vehicle incentive program in March, eliminating incentives for vehicles with a recommended price of $75,000 or more. What effect will this have on demand for Tesla’s Model S and X? Two years ago, this site analyzed the impacts on electric-car sales in British Columbia when funding for...
With Tesla likely to hit 200,000 electric cars sold in the U.S. later this year, it will begin a phasedown process during which the income-tax credits available to its buyers start to dwindle on a set schedule. General Motors is likely to hit the same cap a couple of quarters after Tesla. Now those two companies are lobbying for an expansion of...
Two years ago, the government of India proposed a remarkable and ambitious goal: make every new vehicle coming onto its roads electric by 2030. The plan was largely a response to some of the world's highest levels of hazardous air pollution in its cities, higher in many cases than the legendary foul air in Chinese cities. The world's second-most...
It's been a topic of discussion for years: What will happen when a carmaker reaches the cap on U.S. sales of electric cars that qualify for the full federal tax credit of $7,500? That number is 200,000; after the rest of that calendar quarter and the one following, the credit is halved for a further two quarters. Rough calculations indicate that...
Toward the end of last year, electric-car shoppers began to think about a U.S. market without the $7,500 federal tax credit for their purchases of plug-in vehicles. While the tax credit ended up surviving the massive tax-cut bill passed in December, some automakers are still about to face the end of the incentive. As designed and implemented in...
It's clear that incentives to buy specific cars work best when they can be applied directly at the time of sale. That's why purchase rebates are widely preferred by electric-car advocates to tax credits, which may take up to 15 months to be usable, depending on the timing of the purchase and tax filing. While the federal electric-car incentive is...
How badly do you want to buy a BMW i3 electric car? Badly enough to move to areas of California where Southern California Edison will be your electric utility? If so, a new program offered through April 30 will give residential customers and SCE employees $10,000 off the purchase of any model of the i3. DON'T MISS: How to buy or lease an electric...
A major contributor to electric-car sales is the program under which buyers of new electric cars qualify for a federal income-tax credit of up to $7,500. But these tax credits are not unlimited. Once a manufacturer reaches sales of 200,000 plug-in electric cars (after December 31, 2009), the credits start to phase out for that company's cars...
Fears that Congress would kill the federal tax credit for purchase of a plug-in electric car were laid to rest in December when that incentive survived the $1.5 billion tax-cut bill. Now Congress has added back a handful of other tax credits related to electric cars and greener transportation in the $400 billion budget bill it passed in the wee...
In less than three months, personal income-tax returns or 2017 will be due for most U.S. adults. Some of those taxpayers will have bought a plug-in electric car last year, knowing that the Federal government offers an income-tax credit to help reduce the effective cost. But as more and more electric cars hit the roads, will electric-car shoppers...
For years, green-car buyers in California have enjoyed a special perk: access to high-occupancy vehicle lanes that can whiz past gridlock, even with just a single occupant. Now, updates to the rules signed into law in October by Governor Jerry Brown will likely change the way owners and shoppers view the coveted carpool-lane stickers and how they...
Several years ago, Georgia offered a generous state-tax credit for purchase of a zero-emission vehicle, and its sales of electric cars boomed. When state politics interceded to kill that credit in 2015—and add a new tax specifically on those same vehicles—the state became a case study on what happens when such incentives are suddenly...
Leases are a minority of overall car sales in the U.S., though the numbers soar for pricier luxury vehicles versus the less expensive, plain-Jane vehicles that serve as daily transport for most drivers. That rule flips for electric cars: Most pricey Teslas appear to be purchased outright, while smaller and less expensive electric cars are largely...