article thumbnail

IRA EV tax credits winning over more auto dealers in 2024

Teslarati

According to the United States (US) Treasury Department, more auto dealers are signing up for the point-of-sale electric vehicle tax credit. In November 2023, the US Treasury announced that car dealers would receive direct tax credit payments, enabling them to offer customers immediate rebates at the point of sale.

article thumbnail

China auto price war: BMW dealers offer discounts of up to $14,360 for i3

CN EV Post

A rare price stampede is taking place in the Chinese auto market. Image from BMW China Weibo) As a large number of car companies in China are offering huge subsidies or price cuts, BMW is offering more than 100,000 yuan ($14,360) off its all-electric model, the i3, according to local media.

Dealers 140
article thumbnail

Price wars fail to boost China's auto consumption

CN EV Post

With consumers in a wait-and-see mood, orders and transaction rates did not increase significantly, and auto demand recovered less than expected, the CADA said. Many automakers in China launched rare price wars in March to try to boost sales. The Vehicle Inventory Alert Index for China's auto market was 62.4 Of those, 20.5

Auto 140
article thumbnail

Survey Shows Auto Dealers Still Annoyed With Biden EV Strategy

The Truth About Cars

According to the 2024 Dealer Outlook Survey, 83 percent of respondents said the government was pushing the transition toward EVs too quickly and mucking up the auto market. As for dealers, there’s some amount of disagreement as to what’s holding EVs back. That issue was exacerbated by provisions (e.g.&

Dealers 105
article thumbnail

National Auto Dealer Assoc. says it’s all in on EVs. Will dealers step in line?

Electrek

more… The post National Auto Dealer Assoc. Will dealers step in line? says it’s all in on EVs. appeared first on Electrek.

Dealers 136
article thumbnail

New Mexico Auto Dealers Claim They Keep Prices Low, Serve Customers Better

CleanTechnica EVs

A few weeks ago, Ken Ortiz, the president of the New Mexico Auto Dealers Association, penned a letter to the editor of the Albuquerque Journal. The letter, which came 2–3 weeks after Tesla opened its first facility in the state, defended auto dealers’ practices and claimed that they’re actually better for the EV transition.

article thumbnail

Kia dealers are already gouging away on EV9 electric SUV prices

Baua Electric

Price gouging has already hit one of the most anticipated new EVs of the year—the 2024 Kia EV9. CarsDirect reports that national dealer inventory data currently shows EV9 markups of up to $7,000 over MSRP. One dealership confirmed to the website that every EV9 on its lot had a $7,000 markup, in fact.

Dealers 52