MENU
SEARCHUpdated rules restrict eligibility due to materials sourced in countries the U.S. wants to distance from.
The Ford F-150 Lightning will maintain eligibility for the full $7,500 tax credit.
IMAGE: Ford
Ford and General Motors said they expect some of the electric-vehicle models will at least temporarily lose eligibility for a federal tax credit after the new year due to stricter limits.
Ford said its Mach-E and Lincoln Aviator Grand Touring hybrid will no longer be eligible for a credit but that its F-150 Lightning will keep the full $7,500 tax break, according to news reports.
GM said its Cadillac Lyriq and Chevrolet Blazer won’t be eligible after the new year. Its Chevrolet Bolt EV will continue to be eligible.
The loss of eligibility is due to some EV materials being sourced in overseas markets the U.S. has barred as EV component sources. The Biden administration has enacted such restrictions in order to limit U.S. reliance on some overseas markets, particularly China.
The credits are intended to spur EV adoption to help ease climate-degrading pollution and to increase domestic electric-vehicle component manufacturing and sourcing for greater independence.
Tesla has said some of its models will also lose eligibility under the updates rules.
Originally posted on Auto Dealer Today
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 →
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
Read More →
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
Read More →