This Volkswagen EV Now Comes with Full Tax Credit Benefits
Volkswagen has recently announced that their MY23 and the upcoming MY24 models of the ID.4, equipped with SK On battery components, will be eligible for the full $7,500 Federal Tax Credit. This development makes these models of the ID.4, which start at a base MSRP of $38,995 before the tax credit, a more budget-friendly option in the electric SUV segment. However, it's important to note that the eligibility of MY24 ID.4 models is conditional on future battery production and may be subject to change.
Unique Position of Volkswagen in the EV Industry
Volkswagen stands out as the only foreign car manufacturer currently offering a full battery electric vehicle in the U.S. that qualifies for the full Federal Tax credit. This achievement is largely due to the local assembly and sourcing practices of the company. Beginning in 2024, eligible customers will have the option to apply the tax credit directly at the point of sale as a down payment by transferring the credit to participating dealers.
Sales Performance and Impact of the ID.4
The ID.4 has established itself as a preferred choice in the EV market, attracting new customers to both the Volkswagen brand and to electric mobility. In 2023, it ranked as the fifth best-selling EV in the United States, with a sales increase of 84 percent compared to 2022. Pablo Di Si, President and CEO of Volkswagen Group of America, emphasized the affordability of the ID.4 and how the tax credit enhances its accessibility. He also highlighted Volkswagen's commitment to localizing assembly in Tennessee and investing in battery production, component manufacturing, and innovation.
Specifications of the 2023 Volkswagen ID.4
The 2023 ID.4 is available for sale with two battery sizes and two powertrains. The Standard model features a 62kWh battery with an EPA-estimated range of 209 miles, while the ID.4 Pro has an 82 kWh battery, offering an EPA-estimated range of 275 miles. The ID.4 AWD Pro models boast up to 295 horsepower and an all-wheel-drive capability, with an EPA-estimated range of 255 miles.
Final Considerations
It's important for potential buyers to understand that not all vehicles or customers will qualify for the tax credit. Only specific models with certain battery components are eligible. Additionally, the tax credit is only applicable on the original purchase of a qualifying vehicle and cannot be used for leasing. Customers are encouraged to consult a tax advisor for eligibility based on their individual tax situation. The tax credit program is subject to limitations and changes that are beyond Volkswagen's control.
This article was co-written using AI and was then heavily edited and optimized by our editorial team.
More by TTAC Staff
Latest Car Reviews
Read moreLatest Product Reviews
Read moreRecent Comments
- Bkojote Nobody's asking about VW's sustainability beyond 'why are you building critical engine components out of plastic and acting surprised when they fail at 40k miles' and 'stop worrying about carbon emissions please fix your carbon build-up issues first' but still good on them. Heat pumps make sense in South Carolina.
- Flashindapan Well, considering he still has a temp tag on the back I hope he at least gets a few months enjoyment out of it before he starts having the issues you describe.
- Carson D Why isn't anyone talking about the 11-day lithium storage battery fire in San Diego? What other damage has the eco-friendly energy lie done without national news coverage?
- Murilee Martin It wasn't exactly an easy swap, but the Alfa 164's V6 fits in the X1/9 and makes it a very competitive road-race car: https://www.thetruthaboutcars.com/2011/04/fiat-x19-alfa-romeo-164-plywood-launcha-splatos/
- EBFlex The usual suspects will come here and spread nonsense about Musk, very little based in facts. But the fact is, he should take a pay cut for Teslas sales that are dwindling, everything about the CyberTruck which has been nothing but a colossal failure, and Teslas lack of quality.
Comments
Join the conversation