article thumbnail

General Motors sidesteps loss of EV tax credit to offer big discounts for customers

Teslarati

General Motors is sidestepping the loss of the electric vehicle tax credit on its vehicles and will still offer a big $7,500 discount on cars for customers. The Lyriq and Blazer EV will likely regain eligibility sometime early this year as GM plans to switch up sourcing so customers can take advantage of the tax credit.

article thumbnail

Motor vehicle taxation brings in €440.4B for governments in major European markets

Green Car Congress

New data shows that motor vehicles generate more than €440 billion in taxation per year for national governments in the major EU markets plus the UK, the European Automobile Manufacturers’ Association (ACEA) reports. The top 5 countries with the highest motor tax revenues are: Germany ?

Motor 284
article thumbnail

Lucid Motors (LCID) announces limited $7,500 credit for Air EV purchases

Electrek

Lucid Motors isn’t about to let potential customers of the other American EV automakers have all the fun. Just because its EVs don’t qualify for federal tax credits under new terms in the Inflation Reduction Act does not mean customers looking to buy a new Lucid Air can’t get $7,500 off.

article thumbnail

Tesla Can Now Apply The $7,500 Tax Discount Directly To The Purchase Price Of EVs

InsideEVs

The point-of-sale rebate can be applied when purchasing a Model Y or Model X Dual-Motor.

Purchase 105
article thumbnail

The Honda Prologue Gets Major Boost with Federal Tax Credit Eligibility

The Truth About Cars

Honda leaned on General Motors to help get its EV program off the ground here in the U.S., The automaker recently announced that its upcoming Prologue EV would be eligible for federal tax credits of $7,500, meaning buyers can get around 15 percent off the SUV’s purchase price at the point of sale.

article thumbnail

Analysis finds annual running cost of EVs less than ICE; but with purchase price factored in, it flips

Green Car Congress

However, these annual costs don’t take into account the purchase cost of the vehicle itself and are purely the ‘running’ costs annually. When the purchase cost of each type of vehicle is factored in, average gasoline vehicles are $1,454 per year cheaper to run.

Purchase 321
article thumbnail

Tesla Model 3 Highland leases qualify for IRA tax credit loophole

Teslarati

Tesla calculated that Model 3 Highland lease payments would be $329 monthly, excluding taxes and fees. Tesla models eligible for IRA tax credits in 2024 The loophole lies in the IRA’s tax credit qualifications for commercial vehicles. Tesla launched the Model 3 Highland RWD and Dual-Motor AWD variants in North America.