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As of the start of the year, the implementation of new rules by the Department of Energy (DOE) means only 13 vehicles qualify for federal tax credits for electric vehicles made in North America.
The U.S. Department of Energy released new information on August 16 outlining 31 makes and models of electric cars that meet the eligibility standard for the credits. Owners can receive up to ...
If you're in the market for a new car this year and considering an electric vehicle, the government has just issued an updated list of the 22 options (including 2023 models) available for the ...
Currently the standard credit for a qualified alternative fuel vehicle is $4,000. Other than the Civic GX, a number of models produced after 2004 may qualify for tax credits. [13] Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified. [14]
10 Electric Car Models Are Eligible As Of January 1, 2024. Some EVs, like the Ford Mustang Mach-E and Nissan Leaf, are only eligible for a partial credit of $3,750. Used vehicles have a maximum ...
Plug-in electric car sales in the U.S. totaled 157,181 units, consisting of 84,246 all-electric cars and 72,935 plug-in hybrids. The plug-in car segment achieved a market share of 0.90% of new car sales. December sales totaled 23,288 units with a market share of 1.39%.
Wayne Bechtol, a senior tax accountant and board advisor at Fiona, said of the EV tax credit changes: “While it has made the tax break more accessible, it has reduced the number of eligible cars ...
An initiative by the Obama Administration to increase the maximum tax credit for plug-in electric vehicles to US$10,000, would not apply to luxury vehicles with a sales price of over US$45,000, such as the Cadillac ELR (shown) and the Tesla Model S.