this post was submitted on 26 Jan 2024
62 points (97.0% liked)

Electric Vehicles

3224 readers
209 users here now

A community for the sharing of links, news, and discussion related to Electric Vehicles.

Rules

  1. No bigotry - including racism, sexism, ableism, casteism, speciesism, homophobia, transphobia, or xenophobia.
  2. Be respectful, especially when disagreeing. Everyone should feel welcome here.
  3. No self-promotion
  4. No irrelevant content. All posts must be relevant and related to plug-in electric vehicles — BEVs or PHEVs.
  5. No trolling
  6. Policy, not politics. Submissions and comments about effective policymaking are allowed and encouraged in the community, however conversations and submissions about parties, politicians, and those devolving into general tribalism will be removed.

founded 1 year ago
MODERATORS
[email protected]
62
The EV Tax Credit Now Acts Like an Instant Rebate (www.cnet.com)
submitted 9 months ago by MicroWave to c/evs
3 comments fedilink hide all child comments
 

Changes to the EV tax credit in 2024 allow an immediate discount on an EV purchase -- but there are additional requirements that shorten the list of eligible EVs.

The Clean Vehicle Tax Credit -- up to $7,500 for electric vehicles -- can now be used at the point of sale like an instant rebate.

Effective this year, the changes may help steer more potential buyers toward EVs and away from gas-powered vehicles. "The tax credit -- most Americans still aren't aware of it," said Loren McDonald, CEO of the analyst firm EVAdoption. "That's why the point of sale [change] is important."

But as of early 2024, the changes are a bit of a mixed bag for consumers. While the changes do mean you can save money immediately on an EV purchase versus waiting for your tax return, it limits your EV options, too. Price caps, income requirements, dealership participation and battery sourcing requirements have caused the 2024 list of eligible EVs to shrink -- at least for now.

top 3 comments
sorted by: hot top controversial new old
[–] lockedcasket 4 points 9 months ago (1 children)

Isn’t the list of cars that are eligible only like 5 or so?

[–] dephyre 8 points 9 months ago* (last edited 9 months ago) (1 children)

It's only 4… that's really disappointing.

As for qualifying models currently in production, there's the F-150 Lightning, the Tesla Model 3, the Model X, and the Model Y.

(Source)

[–] partial_accumen 14 points 9 months ago* (last edited 9 months ago)

As for qualifying models currently in production, there’s the F-150 Lightning, the Tesla Model 3, the Model X, and the Model Y.

Even THAT list isn't totally accurate.

  • Tesla Model 3 RWD doesn't qualify

  • Tesla Model 3 LR doesn't qualify

  • Tesla Model 3 performance DOES qualify

  • Tesla Model X Plaid doesn't qualify

  • Tesla Model X LR DOES qualify

  • F-150 Lightning Limited doesn't qualify

  • F-150 Lightning all other models configured under $80k qualify