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EV tax credit shifts to rebate Jan. 1, and not all dealers are ready

Green Car Reports

car dealerships have not registered to begin offering the federal EV tax credit at the point of sale when that option becomes available Jan. More than 7,000 dealerships have registered with the IRS to offer tax credits of up to $7,500 as point-of-sale rebates, the U.S. Treasury Department said Friday.

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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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Survey: Dealers think Biden is moving too fast on EVs

Baua Electric

Dealers think the Biden administration’s EV policies are forcing the auto industry to move ahead of market demand, according to a new Automotive News survey. The publication’s 2024 Dealer Outlook Survey compiled responses from 208 U.S. car dealers and dealership managers. billion on EV infrastructure.

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How Do the Used and Commercial Clean Vehicle Tax Credits Work?

Blink Charging

Usually when discussing federal electric vehicle tax credits in the United States , most people are referring to the Clean Vehicle Credit (formerly the Qualified Plug-in Electric Drive Motor Vehicle Credit) for new EVs. But that’s not the only federal tax credit for buying an EV.

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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

The bill puts forth several measures aimed at advancing decarbonization in the state, including tax credits for industrial facilities to implement emission-reducing improvements, new spending for geothermal energy projects and geothermal electricity generation, the construction of sustainable aviation fuel production facilities, and more.

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Dealers Finally Have EV Inventory But Now Lack Buyers

The Truth About Cars

Axios recently highlighted the issue and found that dealers have EV inventory sitting on their lots for extended periods, suggesting that supply is significantly outpacing demand. Part of the issue with some EV models is their sky-high price tags, and the most expensive models aren’t eligible for government tax credits.

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UC Davis ITS study suggests hastening consumer adoption of plug-ins will require innovation on the sales side

Green Car Congress

A study by researchers at the Institute of Transportation Studies, UC Davis finds that buyers of plug-in vehicles (PEVs) are substantially less satisfied with the dealer purchase experience than buyers of conventional vehicles—with the notable exception of Tesla buyers. In some cases, dealers outright discouraged PEV purchases.

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