Some good things coming up..

[KyloRen]

Seems to be good things:

• Credit extended to 2032
• No more 200,000 unit limit
• Credit given at the time of purchase (ie not during tax returns?)
• Tax credit on used EVs

May not be so good;

• Purchase price limit (<$55k for cars; <$80k for SUV/Trucks)
• Income limit (looks like they ignored the living costs in some places - like California!

https://www.cnet.com/roadshow/news/...edits-about-to-radically-change-buying-an-ev/

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[KyloRen]

What are your thoughts on these? +s and -s

 

[sotek2345]

Don't forget the battery material restrictions - we don't have the details, but could excludes most EVs from half of the credit.

 

[voxel]

What are your thoughts on these? +s and -s

The big one is if you read the new EV bill is the critical battery mineral requirements and battery component requirements that basically nuke the tax credit from 2024/2025 onwards because nothing can be from foreign entities of concern (aka China, Russia, etc.).

A major plus in 2023 is all the new EVs arriving. I think the Ariya, Lyriq, R1S are car of the year contenders and that includes ICE cars too.

 

[Jax_GT]

What are your thoughts on these? +s and -s

I'm happy I placed my order in March and will get my car soon. We almost waited, but the credit isn't as simple and I don't want to have to dance around income or vehicle price limits and that's the easy part.

I'm waiting for sales person to say, " oh yeah, this will get the full $7500" but then it only qualifies for half due to the battery or something like that.

 

[Blue highway]

Battery material source limit is the big deal.

The cost of living difference in California is mostly housing... https://meric.mo.gov/data/cost-living-data-series

The high tax burden in California is self inflicted.

 

[bp99]

The Used Car Credit is far from a good thing. It's going to create a big mess. First, it's only available if sold by a dealer. It's going to kill private sales for used EVs under and a bit above its cap. Meaning that the first owner of an EV that's depreciated enough to be under the cap cannot recover the full resale value. They must give some of the value to a dealer. It's also going to have a negative effect on trade-in values/sales to dealers for used EVs in a band below and above the cap as the dealer needs to have margin on cars they buy and needs to keep their sale price under the cap. Then there's the issue with it only applying to a given VIN once, creating a significant price difference between one and two owner used EVs. There's already a one owner premium, but it's not close to $4000 as the rebate will make it.

There was absolutely no need to introduce a rebate on used cars. They're already in the national fleet. Adding incentives to used cars does not increase EV adoption. Someone will buy it and it will remain on the road regardless of a rebate. All it does is muck with market values and create complications.

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