The 2022 EV Tax Credit Changes Are A Big Deal - The Good, The Bad, The Ugly Explained
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Date: 2022-08-18
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Comments and reviews: 14
autos
If the credit is applied at point of sale, the Stealership will keep the credit you can count it. They are doing that now in CA with our state EV credit of 1, 000-2, 000 that simply vanishes into the overall deal. The rules must allow for continued credit on Fed Tax Return to keep some honesty in this program. The used credit is the dumbest part of this, because once again Stealerships make out since private sales are excluded. The old system was better - just lift the caps on the manufacturers!
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If the credit is applied at point of sale, the Stealership will keep the credit you can count it. They are doing that now in CA with our state EV credit of 1, 000-2, 000 that simply vanishes into the overall deal. The rules must allow for continued credit on Fed Tax Return to keep some honesty in this program. The used credit is the dumbest part of this, because once again Stealerships make out since private sales are excluded. The old system was better - just lift the caps on the manufacturers!
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Alex
Why are the Kia/Hyundai PHEVs excluded? Because while vehicles like the gasoline Tucson and hybrid Tucson are built in Alamaba, the PHEV model is built in Ulsan, South Korea. It is possible that production could move to the USA because of this, but the PHEV models are different enough that the transition could take time and prove too expensive for them to bother. Only time will tell.
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Why are the Kia/Hyundai PHEVs excluded? Because while vehicles like the gasoline Tucson and hybrid Tucson are built in Alamaba, the PHEV model is built in Ulsan, South Korea. It is possible that production could move to the USA because of this, but the PHEV models are different enough that the transition could take time and prove too expensive for them to bother. Only time will tell.
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Malcolm
Hi Alex, I pre-order a 2023 BMW X5 45e with 81, 300 MSRP. I didn t sign a binding contract but the vehicle will be delivered before October. In this this I should be fine even if it is over 80k, right? Since from Aug 16 to Dec 31, the old rule applies(with no price cap) and 2023 x5 are assembled in U. S.
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Hi Alex, I pre-order a 2023 BMW X5 45e with 81, 300 MSRP. I didn t sign a binding contract but the vehicle will be delivered before October. In this this I should be fine even if it is over 80k, right? Since from Aug 16 to Dec 31, the old rule applies(with no price cap) and 2023 x5 are assembled in U. S.
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Hazdazos
Another thorough video! The way the tax credits are structured is doing exactly what we need - bring more auto manufacturing to North America. That's a good thing since Americans are the ones paying for the credit to begin with. The only controversy is the one certain media outlets are trying to create.
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Another thorough video! The way the tax credits are structured is doing exactly what we need - bring more auto manufacturing to North America. That's a good thing since Americans are the ones paying for the credit to begin with. The only controversy is the one certain media outlets are trying to create.
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Samuel
Great explanation as usual. I think this is great for EV production in North America. Just remember that when a new Law is passed, it usually gets modified as time goes by. The Treasury Secretary will modify aspects of the law. Lets be patient and see how it shakes out
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Great explanation as usual. I think this is great for EV production in North America. Just remember that when a new Law is passed, it usually gets modified as time goes by. The Treasury Secretary will modify aspects of the law. Lets be patient and see how it shakes out
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aerob1033
Very informative, thanks, learned a few things I didn't know even though I've already been Googling this stuff. The Bolt and Bolt EUV with their new reduced prices look like a heck of a deal come January. So do certain used PHEVs that squeak under the 25, 000 mark.
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Very informative, thanks, learned a few things I didn't know even though I've already been Googling this stuff. The Bolt and Bolt EUV with their new reduced prices look like a heck of a deal come January. So do certain used PHEVs that squeak under the 25, 000 mark.
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David
One thing I don t see mentioned often is, if you make over 150k a year you won t qualify for it anymore. Massive buzzkill! I won t qualify for it anymore, no longer interested in buying an overpriced PHEV or living with the struggle of an EV outside of California.
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One thing I don t see mentioned often is, if you make over 150k a year you won t qualify for it anymore. Massive buzzkill! I won t qualify for it anymore, no longer interested in buying an overpriced PHEV or living with the struggle of an EV outside of California.
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pnketia
So is the credit based on the MSRP or the Dealer s mark up? I could see a scenario where the EV would qualify based on the MSRP, but then not qualify after the dealer marks up the price due to the supply and demand imbalance.
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So is the credit based on the MSRP or the Dealer s mark up? I could see a scenario where the EV would qualify based on the MSRP, but then not qualify after the dealer marks up the price due to the supply and demand imbalance.
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tjs114
Will you really need a VIN decoder when all vehicles's must disclose on the window sticker final assembly point as well as parts source content? I imagine putting that battery data on the window sticker will become required.
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Will you really need a VIN decoder when all vehicles's must disclose on the window sticker final assembly point as well as parts source content? I imagine putting that battery data on the window sticker will become required.
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Jim
So let me get this straight. I can get a tax refund on my new to me, but slightly used (12, 000 miles) 2019 Ford Energi Fusion, but I can only make 75, 000 per year income? I might need a college degree just to understand it.
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So let me get this straight. I can get a tax refund on my new to me, but slightly used (12, 000 miles) 2019 Ford Energi Fusion, but I can only make 75, 000 per year income? I might need a college degree just to understand it.
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Eric
I really think we would be much better off promoting and tax crediting hybrids and phevs, they are practical for everyone and the prices are way more reasonable, yet they are still way better than ice cars.
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I really think we would be much better off promoting and tax crediting hybrids and phevs, they are practical for everyone and the prices are way more reasonable, yet they are still way better than ice cars.
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AB18
I still believe that until the charging infrastructure across the country is significantly expanded and made more reliable, many potential EV customers will not be interested regardless of incentives.
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I still believe that until the charging infrastructure across the country is significantly expanded and made more reliable, many potential EV customers will not be interested regardless of incentives.
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carlos
Seems like the EV portion of the bill is a long term play to greatly reduce the chokehold that China currently has on EV battery manufacturing. Will be overall helpful in t he long run for the US
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Seems like the EV portion of the bill is a long term play to greatly reduce the chokehold that China currently has on EV battery manufacturing. Will be overall helpful in t he long run for the US
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Fguito
This pushes my EV purchase to 2026 when they realize this was a huge blunder and revert back to real incentives. Hopefully by then the charging infra will be in a better place
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This pushes my EV purchase to 2026 when they realize this was a huge blunder and revert back to real incentives. Hopefully by then the charging infra will be in a better place
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