MENU
SEARCHJust 16 are eligible for federal tax breaks, some for just half the full amount.
Chrysler's Pacifica hybrid is among the limited list of models that qualify for the tax credits.
IMAGE: Chrysler
A much shorter list of electric vehicles still qualify for federal tax credits after new restrictions took effect today.
Requirements on EV battery sourcing narrowed the list of qualified vehicles to just 16 models, all domestically made, and 10 of which qualify for the full $7,500 in credits. Nine other models lost their eligibility.
The Treasury Department issued guidance late last month that added battery material sourcing requirements to tax credit limits that require sourcing, processing or recycling of battery materials to be centered in North America or a free-trade partner of the U.S.
The eligible models are made by Ford, General Motors, Stellantis and Tesla.
Buyers’ incomes and purchased model prices must be under particular dollar limits in order to qualify for the credits, which are intended to encourage EV adoption. The new limits, though, are designed to build North American EV sourcing and production to reverse dependence on Chinese suppliers.
Until now, most domestically made models qualified for the credits.
To learn which models qualify for credits and the credit total, visit fueleconomy.gov.
Originally posted on Auto Dealer Today
Feldman Automotive Group added two new brands, Honda and Toyota, to its portfolio with its latest acquisition of four Fireside dealerships in Ohio.
Read More →
The franchisees’ state-level actions follow a California auto dealers trade group lawsuit against the VW affiliate last year, both efforts to stop the EV maker’s plan to sell direct to consumers.
Read More →
First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
Read More →
At nearly 14%, California had the lowest zero-emission vehicle market share in the first quarter since the fourth quarter of 2021, according to the California New Car Dealers Association.
Read More →
EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
Read More →
Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
Read More →
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →