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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.

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Which 2024 EVs qualify for the $7,500 EV tax credit?

Green Car Reports

The list of electric vehicles qualified for the EV tax credit in calendar year 2024 has been released. And as expected, it’s very short. Noteworthy Tesla omissions include most of the Model 3 lineup (the Performance version is the only one that now qualifies), as well as the entire Model S lineup.

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How to Get the Federal Clean Vehicle Tax Credit This Year

Blink Charging

The latest Clean Vehicle Tax Credits can be applied to the purchase of a new or used EV at the point of sale as of January 1, 2024. The Clean Vehicle Tax Credit for new EVs is worth up to $7,500 and the Previously Owned Clean Vehicle Tax Credit is worth up to $4,000. Here’s what you need to know.

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Alfa Romeo starts production of its first plug-in hybrid; Tonale offers 30 miles electric range

Green Car Congress

Alfa Romeo’s first plug-in hybrid is built at the Giambattista Vico Stellantis plant in Pomigliano d’Arco, Naples, Italy, one of the company’s most advanced production sites. US customers who choose to lease their all-new Alfa Romeo Tonale can take advantage of a $7,500 federal EV tax credit. Earlier post.) The additional 1.3-liter

Plug-in 435
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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.

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Used PHEV prices rose ahead of $4,000 tax credit eligibility

Green Car Reports

In the months even before we knew some used plug-in hybrids would be eligible for a $4,000 used EV tax credit, market interest in plug-in hybrids was on the rise, according to a recent pricing analysis.

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Volvo EX30 debut, base Model 3 tax credit, plugging in PHEVs: Today’s Car News

Green Car Reports

Base Standard Range versions of the Model 3 are eligible for more EV tax credit money than they were last week. Plug-in hybrid drivers likely aren’t plugging in as much as the EPA has been assuming. And the Volvo EX30 EV aims for the $35,000 mark from the start. This and more, here at Green Car Reports.