Today starts Lightning Production by by $7500 Fed Tax Credit

[Oldbutalive]

150,000 for this years goal.
The $7500 Federal Tax Credit ENDS when FORD Motor delivers 200,000 electric units.

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[Sam2084]

150,000 for this years goal.
The $7500 Federal Tax Credit ENDS when FORD Motor delivers 200,000 electric units.

150k was next years goal.

 

[dmastro]

A) given industry manufacturing struggles, especially with chips and EV battery components, don’t expect Ford to produce 150k units quickly. See re Mach E

2) tax credit doesn’t phase out immediately at 200k units. Full credit runs a quarter after reaching the limit and then decreases over several quarters.

iii) we should all relax, I’d guess all of us who have had orders in for a while will receive our cars in time. If not, there’s plenty of competitive vehicles coming out that will have full tax credit. Or there’s still potential that the credit gets extended in the budget this year.

 

[timbop]

150,000 for this years goal.
The $7500 Federal Tax Credit ENDS when FORD Motor delivers 200,000 electric units.

Nope. The FULL amount is still available until the END of the quarter AFTER the quarter in which 200k units is reached. For the next 2 quarters after that it is $3750, and then the 2 quarters after that it goes to $1875.

Ford is unlikely to hit the 200k level before the 3Q22, so it is extremely likely the $7500 will be available until 12/31/22. 1Q23 MAY still get the $7500, but most probably 2Q23 will only get $3750

 

[timbop]

Or there’s still potential that the credit gets extended in the budget this year.

Not a snowball's chance in hell. By being pro-BEV and pushing for infrastructure money for chargers Biden has assured that BEVs will become just one more political talking point - especially given how much money Koch, ExxonMobil, and the rest of the petroleum industry dirtbags spend on propaganda and misinformation.

 

[RickMachE]

150,000 for this years goal.
The $7500 Federal Tax Credit ENDS when FORD Motor delivers 200,000 electric units.

No, and no.

150k was next years goal.

150,000 annual run rate by middle of 2023.

200,000 MIGHT be hit in Q3. Full tax credit would therefore end on 12/31/22.

Qualifying vehicles manufactured by that manufacturer are eligible for 50 percent of the credit if acquired in the first two quarters of the phase-out period and 25 percent of the credit if acquired in the third or fourth quarter of the phase-out period.

 

[BluePony]

Nope. The FULL amount is still available until the END of the quarter AFTER the quarter in which 200k units is reached. For the next 2 quarters after that it is $3750, and then the 2 quarters after that it goes to $1875.

Ford is unlikely to hit the 200k level before the 3Q22, so it is extremely likely the $7500 will be available until 12/31/22. 1Q23 MAY still get the $7500, but most probably 2Q23 will only get $3750

That is not correct. its current quarter they hit the milestone and then next quarter. So if ford crosses the milestone in Q3, then Q4 would the the final quarter for the full $7500. Q1 and Q2 of 2023 will be $3750.

 

[SWO]

Not a snowball's chance in hell. By being pro-BEV and pushing for infrastructure money for chargers Biden has assured that BEVs will become just one more political talking point - especially given how much money Koch, ExxonMobil, and the rest of the petroleum industry dirtbags spend on propaganda and misinformation.

1. So paying people $7500/ea to buy an electric car isn't political, but refusing to expand it is?
2. The extension crashed and burned because of carve-outs for unions. The bill asked democrats to vote for something that would hurt workers in their own states. It was asinine.

 

[macchiaz-o]

This thread quickly went off the rails. Given our history on this topic, I'm unsurprised.

 

[astronut325]

This is making the wait even more frustrating. I'm really hoping I can get the Mach-E before the tax credit starts to phase out. Hopefully that doesn't happen before October.

 

[Drock2k1]

So, just curious, does it matter at all when you take delivery or is it just based off of the year.

 

[timbop]

That is not correct. its current quarter they hit the milestone and then next quarter. So if ford crosses the milestone in Q3, then Q4 would the the final quarter for the full $7500. Q1 and Q2 of 2023 will be $3750.

Which is what I said but using different words.

The 200k threshold probably does not happen BEFORE 3Q22
Thus the $7500 is still good until the END of 4Q22

 

[timbop]

1. So paying people $7500/ea to buy an electric car isn't political, but refusing to expand it is?
2. The extension crashed and burned because of carve-outs for unions. The bill asked democrats to vote for something that would hurt workers in their own states. It was asinine.

The incentives passed in 2009 with bipartisan support because both major parties were interested in solving problems together. In the intervening 13 years the political climate has gone from compromises and finding common ground to "if you like it then I hate it". Surely you aren't suggesting that compromise and "working together" is the prevailing political spirit anywhere in this country?

So, just curious, does it matter at all when you take delivery or is it just based off of the year.

Yes - the effective date for tax incentive purposes is the "in service date", which essentially is the day you drive it off the lot.

 

[SWO]

The incentives passed in 2009 with bipartisan support because both major parties were interested in solving problems together. In the intervening 13 years the political climate has gone from compromises and finding common ground to "if you like it then I hate it". Surely you aren't suggesting that compromise and "working together" is the prevailing political spirit anywhere in this country?

We don't need to rehash the 2009 ARRA, but to call that unpartisan is pretty silly on it's face.

Once again, the fact of the matter is that it's a bad bill, asking folks on both sides to hurt workers in their states at the request of special interest groups.

 

[Raymondjram]

1. So paying people $7500/ea to buy an electric car isn't political, but refusing to expand it is?
2. The extension crashed and burned because of carve-outs for unions. The bill asked democrats to vote for something that would hurt workers in their own states. It was asinine.

The Feds are not "paying" anyone $7,500 to buy an electric car. That is a tax rebate and most of us don't pay that much tax. I don't pay at all so I don't get any "payment". It is easier to raise gas taxes so buyers will search for hybrids and electrics on their own.

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