Only 10 Models Qualify for Full 2024 EV Tax Credit?

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E365

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Starting in 2024, the requirements to receive the full $7,500 EV tax credit start getting more stringent. It’s complicated, but it essentially rewards cars with batteries & materials that are made more in the USA and less in China.

The Street claims only 10 models will now qualify for the full $7,500 credit.

  1. Chevrolet Bolt EV
  2. Chevrolet Equinox EV
  3. Ford F-150 Lightning
  4. Tesla Model 3 Performance
  5. Chevrolet Silverado
  6. Tesla Model Y Performance
  7. Chrysler Pacifica PHEV
  8. Chevrolet Blazer EV
  9. Cadillac LYRIQ
  10. Tesla Model X
https://www.thestreet.com/electric-...alify-for-the-full-federal-tax-credit-in-2024

https://cleantechnica.com/2023/12/1...full-federal-ev-tax-credit-on-january-1-2024/

Tesla is now clear on their website that some Model 3s lose the credit (RWD and LR AWD). They also are implying some of the Model Ys will too, but they’re not specific yet. Maybe the authors of this article know what’s behind it all.

https://electrek.co/2023/12/13/tesla-signals-model-y-losing-full-7500-tax-credit/

Also notable the Mustang Mach-e likely loses ALL tax credit.

https://www.reuters.com/business/au...alify-federal-tax-credits-january-2023-12-06/

GM’s 4+ year/$10B+ mission to build American battery plants might start to really pay off. The first one just hit full production speed this month and the 2nd opens in a few weeks. Ohio, Tennessee and Michigan.

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Depends on how you are approaching the issue

1) First you have to qualify based on income requirements, plain and simple for those 10 vehicles


2) Those 10 models that do qualify its upto the mfg and/or dealers to choose their next move carefully, whether to capture the tax credit by inflating their msrps or remove any preincentive dealer contributions that were available earlier.


3) evs that dont qualify, can still avail of the section 45w through their respective captive finance arm of the mfg for the full credit. The finance arm can then choose to pass this credit on a ccr whole or in a partial amount. Like you can do now, you dont need to qualify for said credit via income limits, and if you so choose can recapture the credit by leasing and then immediately buying.
 
E365 said:
Starting in 2024, the requirements to receive the full $7,500 EV tax credit start getting more stringent. It’s complicated, but it essentially rewards cars with batteries & materials that are made more in the USA and less in China.

The Street claims only 10 models will now qualify for the full $7,500 credit.

  1. Chevrolet Bolt EV
  2. Chevrolet Equinox EV
  3. Ford F-150 Lightning
  4. Tesla Model 3 Performance
  5. Chevrolet Silverado
  6. Tesla Model Y Performance
  7. Chrysler Pacifica PHEV
  8. Chevrolet Blazer EV
  9. Cadillac LYRIQ
  10. Tesla Model X
https://www.thestreet.com/electric-...alify-for-the-full-federal-tax-credit-in-2024

https://cleantechnica.com/2023/12/1...full-federal-ev-tax-credit-on-january-1-2024/

Tesla is now clear on their website that some Model 3s lose the credit (RWD and LR AWD). They also are implying some of the Model Ys will too, but they’re not specific yet. Maybe the authors of this article know what’s behind it all.

https://electrek.co/2023/12/13/tesla-signals-model-y-losing-full-7500-tax-credit/

Also notable the Mustang Mach-e likely loses ALL tax credit.

https://www.reuters.com/business/au...alify-federal-tax-credits-january-2023-12-06/
Click to expand...
What, 15 years of 10-20% discounts at taxpayer expense isn’t enough to make people happy? The most disgusting part of this is that the people that would actually benefit from this probably represented less than 5% of beneficiaries; we basically gave handouts to the top 5% of all wage earners, paid out of everyone’s pocket.
 
SubieRubyRoo said:
What, 15 years of 10-20% discounts at taxpayer expense isn’t enough to make people happy? The most disgusting part of this is that the people that would actually benefit from this probably represented less than 5% of beneficiaries; we basically gave handouts to the top 5% of all wage earners, paid out of everyone’s pocket.
Click to expand...
Same thing cash for clunkers did, it was supposed to stimulate but all it really did was give a subsidy to people who were buying a new car anyways.
 
SubieRubyRoo said:
What, 15 years of 10-20% discounts at taxpayer expense isn’t enough to make people happy? The most disgusting part of this is that the people that would actually benefit from this probably represented less than 5% of beneficiaries; we basically gave handouts to the top 5% of all wage earners, paid out of everyone’s pocket.
Click to expand...

Man, wait until you crack a history book and learn what trickle-down Reganomics was all about.
 
A local and mainly rural Ford dealer has 5 Mustang-E's on their lot.... and they're all 2023's.

They can't be happy about this. They're likely praying for ICE dealer trades.
 
MrHorspwer said:
Man, wait until you crack a history book and learn what trickle-down Reganomics was all about.
Click to expand...
It wasn’t right either. We saw a glimpse of what can happen when red tape is eliminated and fees/fines reduced for a couple years. When people have more money in their pockets, they spend more. When that money is artificially curtailed, they spend less, and every promise about additional revenue evaporates nearly overnight. Less interference is the only sustainable way to bring a rising tide to everyone’s doorstep.
 
Rand said:
What about a list of PHEV's getting the 7500 credit in 2024?

Also is the lease passthrough loophole still open?
Click to expand...
Most phevs are open to the credit via the lease passthrough. Having said that, some of these are phevs are penalty boxes with a high price tag. Take for instance a rav4 prime. Folks are paying bmw money to own a interior that its plastic central.
 
proveitwithdata said:
some of these are phevs are penalty boxes with a high price tag. Take for instance a rav4 prime. Folks are paying bmw money to own a interior that its plastic central.
Click to expand...
The RAV 4 Prime has 302 hp and a 5.7 0-60. They're selling every "penalty box" the can make before they even hit the lots.
 
eljefino said:
The RAV 4 Prime has 302 hp and a 5.7 0-60. They're selling every "penalty box" the can make before they even hit the lots.
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Yeah I wouldn't call that a penalty box. I've never gotten that impression from any Toyota of the last 20 years. I've driven many Yaris and they've had hard plastic, but it felt like a quality product.

I should actually clarify that I've never driven a Toyota that didn't feel like a well engineered car. It might not be the car that I like, but it felt well built. If I could call a Toyota anything it would be boring just because my taste in vehicles.
 
eljefino said:
The RAV 4 Prime has 302 hp and a 5.7 0-60. They're selling every "penalty box" the can make before they even hit the lots.
Click to expand...
Totally agree the lists are crazy. It still does not make sense. Whats even more interesting is that if you look at 5 year cost to own, you are not coming out ahead over a hybrid.
 
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Torrid said:
Yeah I wouldn't call that a penalty box. I've never gotten that impression from any Toyota of the last 20 years. I've driven many Yaris and they've had hard plastic, but it felt like a quality product.

I should actually clarify that I've never driven a Toyota that didn't feel like a well engineered car. It might not be the car that I like, but it felt well built. If I could call a Toyota anything it would be boring just because my taste in vehicles.
Click to expand...
Its a great appliance, just not an appliance worth near 50k large. At that price point you can get a well equipped NX/x1 etc.
 
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