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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. Under the current version of the Section 30D Clean Vehicle Credit (CVC), there are specific criteria that both the vehicle and taxpayer must meet. First, the easy part: How do I claim the $7,500 EV tax credit?

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New tool shows which used EVs qualify for federal tax incentives

Teslarati

A new tool released by Recurrent Auto shows car buyers which used EVs qualify for federal tax incentives based on a simple VIN search. And to help those who want to purchase a used EV, the Federal government has introduced a tax incentive of $4,000. This eligibility tool makes it much easier.

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Fisker finesses the Inflation Reduction Act tax credit changes with binding sales contract; “Transition Rule”

Green Car Congress

The US Senate has passed the Inflation Reduction Act, with nearly $400 billion in funding over 10 years for climate- and energy-related programs; among the myriad provisions in the 755-page bill are changes to the electric vehicle Federal tax credit of $7,500. In the US, the Fisker Ocean starts at $37,499 in the base Sport.

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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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Was the Jeep Wrangler 4xe 2021’s 3rd Highest-Selling EV in the US?

EV Adoption

There are no legal or financial reporting requirements that would compel Stellantis to publish the specific sales numbers for the Wrangler 4xe, however, doing so would actually provide credibility and proof of its “best selling” claim.

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EV Tax Credit: The Guide Your Car Dealer Doesn’t Want You To Read

EV Life

This article is for informational purposes only, and is not intended to provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. As one might imagine, car dealerships are excited to share the $7500 tax credit to encourage you to buy a car.

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Top Factors Affecting EV Adoption

EV Connect

Cost (and Cost Comparison) A recent study showed 67% of would-be purchasers claim cost is a primary concern. Incentives and restrictions The extension of the light-duty EV tax credit through 2032 locks in generous savings for consumers in the short term.

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