The 2023 EV Tax Credit Changes Are A Big Deal | Who Keeps It & Who Loses It On April 18

The treasury has actually lastly launched guidance on the brand-new EV tax credit rules and the number of automobiles that get approved for the rest of 2023 has diminished dramatically. Tesla, Ford, GM, Jeep and Chrysler are the only makers of EVs and PHEVs for 2023 that will get any tax incentives on purchase. If you're leasing your next EV or PHEV the list will broaden a bit to include some European luxury brands, Hyundai, Volkswagen and Lucid, but the door is closing quite firmly on a wide array of BEVs made overseas. In this video I cover the changes that begin on April 18, 2023, how the tax credit works and why so many brand-new EVs are shut out in the cold.

EV Tax Credits Explained:
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Posted

September 14, 2024

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Comments

10 responses to “The 2023 EV Tax Credit Changes Are A Big Deal | Who Keeps It & Who Loses It On April 18”

EV Buyers Guide

April 17, 2023

TBH, I’m surprised that the US-made BMW, Audi, Rivian, Volvo, Genesis and Mercedes models didn’t qualify. However without an accounting of exactly how much of the batteries came from where we won’t know how close they are. I really wish the window sticker would be updated to include this information.

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1. godofdun
  
  April 17, 2023
  
  Me too, especially with the ID.4! I figured it would at least get half as it’s battery pack is made by a Korean company in the US.
  
  Reply
Chezzyperson 33

April 17, 2023

Has anyone realized it’s only the Detroit 3 and Tesla now so there’s no point of other Automakers bringing EV manufacturing in the US anymore 🤦‍♂️

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Donald Parish

April 17, 2023

Not really fair to Koreans who made decisions before rules changed last year.

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1. MaxQ
  
  April 17, 2023
  
  I bought a Niro EV recently and I like it better than my tesla model 3 2019
  
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Robert Danford

April 17, 2023

Ah, I couldn’t put my finger on it before, but now it’s clear. The prior tax credit was missing needless complexity for the sake of complexity. They made it “better “now.

Thanks for trying to unpack this mess for us Alex.

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bubzki2

April 17, 2023

I think i heard US-built ID.4 gets full $7500 for now. Not sure if you can confirm?

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1. EV Buyers Guide
  
  April 17, 2023
  
  For the next few hours only. Midnight tomorrow (April 18) it will be gone for the ID.4.
  
  Reply
Fall M

April 17, 2023

Totally BS for those who ordered last year a vehicle under the old rules and not get grandfathered in for delivery after 4/18.

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Marc Spunt

April 17, 2023

Thanks for the details, can you take some time and go over each State rebate and how they work, specifically Illinois? 🙂

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