article thumbnail

New Tesla Model 3 Performance with federal tax credit is more affordable than Long Range AWD

Teslarati

This is because among Tesla’s current Model 3 lineup, only the new Model 3 Performance qualifies for the $7,500 federal tax credit. With the federal tax credit and estimated gas savings in place, the upgraded Model 3 Performance becomes more affordable than the mid-tier Model 3 Long Range Dual Motor AWD variant.

article thumbnail

Chevy Bolt EV discount, Toyota tax-credit phaseout, EV market collapse: Today’s Car News

Green Car Reports

Toyota likely hit the ceiling for the EV tax credit. Electric trucks could pull off the majority of fleet uses today at a cost advantage. Toyota appears to have delivered the. Retroactive discounts apply to the Chevrolet Bolt EV and EUV. Is the EV market on the verge of collapse over price pressures?

article thumbnail

Federal Tax Credit Rules For Electric Cars Delayed Until March

CleanTechnica EVs

The Inflation Reduction Act signed into law in August significantly altered the federal tax credit for electric cars. Previously, it was only available for the first 200,000 electric cars manufactured by any one automaker.

article thumbnail

Toyota EVs and plug-in hybrids: Full $7,500 EV tax credit will likely phase out October 1

Green Car Reports

It appears that sales of Toyota’s plug-in models in recent months were enough to trigger the automaker’s phaseout period for the federal EV tax credit this past quarter—leaving buyers less than nine months to buy a vehicle like the BZ4X electric car or RAV4 Prime plug-in hybrid and be able to claim the full $7,500 amount.

article thumbnail

Audi Activesphere concept, Toyota EV platform, tax-credit dissent: Today’s Car News

Green Car Reports

Audi reveals an electric pickup, of sorts. Toyota reportedly commits to a dedicated EV platform, but it’s years off. And a Senator says the new EV tax credit isn’t being enacted according to the law. The green light has reportedly been given to a dedicated Toyota EV platform—like.

article thumbnail

EV tax credit consequence: Plug-in vehicle lease prices are soaring

Green Car Reports

Some shoppers for electric vehicles and plug-in hybrids are encountering severe sticker shock this weekend in monthly lease numbers. That’s because versus just a few days ago, a vast swath of EV and PHEV models are no longer eligible for the federal EV tax credit—now known as the Clean Vehicle Credit.

article thumbnail

New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp., ITC Holdings Corp.,