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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

Great news for drivers looking to purchase an electric vehicle in Colorado! But the most exciting part of the new bill for many Colorado residents is the expansion of an additional Colorado Electric Vehicle Tax Credit for qualified drivers looking to purchase electric vehicles. What Are Electric Vehicle Incentives? 4 , and more.

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Which EVs Still Qualify for Federal Tax Credits?

The Truth About Cars

With the guidance having come in on the United States’ updated EV tax credit scheme, outlined in the so-called Inflation Reduction Act, we now have a pretty good idea of which electric vehicles still qualify. But there are a few more hoops to jump through if you want the government to offer some cash back on your EV purchase.

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How Do the Electric Vehicle Tax Credits Work?

Blink Charging

Federal tax credits for electric vehicles in the United States are complicated, especially with new changes for 2023. The good news is that there are now tax credits for individuals and businesses that buy or lease a new or used electric vehicle! If you’ve been wondering how all these purchase incentives work, Blink has you covered.

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81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China. Critical minerals.

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Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit. Chart Source: EV Volumes.

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J.D. Power: First-time owners find switching to EVs highly satisfactory

Green Car Congress

We know from our research that many consumers have concerns during the purchase consideration process with aspects like battery range and vehicle charging. However, once someone has purchased a BEV, they’re pretty much hooked. Ford Mustang Mach-E (741) ranks second. Tesla Model Y (770) ranks second.

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Tips for purchasing a new EV amid a vehicle shortage

Plug in America

High demand/brand new models such as the BMW i4, Ford Mustang Mach-E, and Hyundai IONIQ 5 are in extremely high demand and short supply on dealership lots. If you are open to colors and options and want your EV sooner, a good dealership will keep your information and notify you when a unit is available for purchase. .