Federal EV tax credit set to end completely September 30th

[SC Maintenance]

"Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated."

I wonder if it will instigate a flurry of EV buying?

https://finance.yahoo.com/news/know-buying-electric-vehicles-federal-192022407.html

 

[Zee09]

I better hurry up and get that F350 then.

 

[dishdude]

I wonder if it will instigate a flurry of EV buying?

Probably, which will inflate the purchase price and negate the savings from the rebate.

 

[JeffKeryk]

"Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated."

I wonder if it will instigate a flurry of EV buying?

https://finance.yahoo.com/news/know-buying-electric-vehicles-federal-192022407.html

I'm sure it will. The loss of the $7500 tax credit after Dec 31, 2018 played a role in the decision to buy our 1st Model 3. At that time there was no income qualification. You had to take ownership before the end of the year, not just order one. It was delivered from Fremont to our door the last week of Dec by a janitor, I believe.

So on Jan 1, 2019 Tesla lowered the price to compensate. Given their margins, they can probably do the same, if they choose to.
Are new cars coming? Supposedly, but on Elon time.

Remember, this hurts other EV companies far more, as their EV business units deliver negative margins.

 

[eljefino]

Bought my Prius Prime in 2/21, got the tax rebate in 4/22. That makes Mobil 1 rebates look speedy!

 

[walterjay]

With electric rates going crazy around here there may not be the EV savings like the article states. I don't see rates dropping anytime soon. With the need to beef up infrastructure it needs to be paid for.

Just my thoughts.

 

[Zee09]

Bought my Prius Prime in 2/21, got the tax rebate in 4/22. That makes Mobil 1 rebates look speedy!

I still haven't received my 2023 tax refund and last year I got my 2017 one...it's on here somewhere.
Makes me think this country is belly up.

 

[Zee09]

With electric rates going crazy around here there may not be the EV savings like the article states. I don't see rates dropping anytime soon. With the need to beef up infrastructure it needs to be paid for.

Just my thoughts.

Yeah good ole AI

 

[edyvw]

I'm sure it will. The loss of the $7500 tax credit after Dec 31, 2018 played a role in the decision to buy our 1st Model 3. At that time there was no income qualification. You had to take ownership before the end of the year, not just order one. It was delivered from Fremont to our door the last week of Dec by a janitor, I believe.

So on Jan 1, 2019 Tesla lowered the price to compensate. Given their margins, they can probably do the same, if they choose to.
Are new cars coming? Supposedly, but on Elon time.

Remember, this hurts other EV companies far more, as their EV business units deliver negative margins.

However, their portfolio is far more diverse.

 

[JeffKeryk]

However, their portfolio is far more diverse.

That all lose money, with the possible exclusion of BMW, right?
The point is, this puts the squeeze on already poor margins.
Now, I don't follow the market very closely, so perhaps other makes, primarily in China, have improved. I also disregard the tax credit due to its qualifications.

If lower cost Teslas enter the market, it gets even harder on other makes, both EV and ICE. Heck, they already have 2 (expensive) cars in the top 10, right?

 

[Dave Hess]

"Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated."

I wonder if it will instigate a flurry of EV buying?

https://finance.yahoo.com/news/know-buying-electric-vehicles-federal-192022407.html

Good.

Stop these EV tax credits.

 

[Torrid]

With electric rates going crazy around here there may not be the EV savings like the article states. I don't see rates dropping anytime soon. With the need to beef up infrastructure it needs to be paid for.

Just my thoughts.

What are your rates doing? As far as using electricity as a fuel source, my rates would have to triple to break even with an ICE vehicle getting better than 30mpg.

 

[Torrid]

Good.

Stop these EV tax credits.

Might as well nuke that fuel subsidy too while we’re at it.

 

[walterjay]

Rates have taken about a 40 percent jump this winter. More in the works for Maryland. We are not allowed to generate our own electric here. Thank you very much elected officials.

 

[JeffKeryk]

Might as well nuke that fuel subsidy too while we’re at it.

Ain't gonna happen; the world runs on oil, and big oil is far too powerful.

 

[jcy]

With electric rates going crazy around here there may not be the EV savings like the article states. I don't see rates dropping anytime soon. With the need to beef up infrastructure it needs to be paid for.

Just my thoughts.

For a 50 Kwh battery, how much do you think it costs to fill er up?

Do you pay $1 per kwh where you live?

 

[eljefino]

What are your rates doing? As far as using electricity as a fuel source, my rates would have to triple to break even with an ICE vehicle getting better than 30mpg.

My marginal electric rate is around 21-22 cents per kWH. Did the math for my Prius Prime and gas would have to be over $3/gal in summer or $3.75 in winter to make sense. I run on gas 99% of the time, but will put a little charge on it to avoid doing a cold start errand like moving it around the driveway.

 

[JeffKeryk]

For a 50 Kwh battery, how much do you think it costs to fill er up?

Do you pay $1 per kwh where you live?

Not even close... I use that big nuclear reactor up in the sky. It's so simple.

 

[edyvw]

That all lose money, with the possible exclusion of BMW, right?
The point is, this puts the squeeze on already poor margins.
Now, I don't follow the market very closely, so perhaps other makes, primarily in China, have improved. I also disregard the tax credit due to its qualifications.

If lower cost Teslas enter the market, it gets even harder on other makes, both EV and ICE. Heck, they already have 2 (expensive) cars in the top 10, right?

My point is, they have ICE or PHEV.

 

[Mechanician]

Yeah good ole AI

Let's not forget to thank crypto too.