People who buy new electric vehicles may be eligible for a tax credit of up to $7,500, and used electric car buyers may qualify for up to $4,000. Consumers can either choose to claim the credit on their taxes or opt to transfer the credit to an eligible dealer ...
Marc Urbano|Car and Driver All three trims in the updated Tesla Model 3 lineup are now eligible for the full $7500 tax credit. That means the rear-drive Long Range trim as well as the AWD version have been added to the IRS's nice list. The more expensive Model 3 Performance also man...
Cadillac's new Lyriq EV qualifies for the clean vehicle tax credit under IRS guidelines — but only as a car, not as an SUV. Cadillac markets the Lyriq as an SUV, but under its current classification as a car, and with an MSRP just over $62,000, the vehicle is cut out of the ...
Looking to save up to $7,500 at tax time and get a new ride too? Check out our list of the top electric cars, trucks and SUVs that are available with the newly revamped federal EV tax credit.
The federal electric vehicle tax credit is complicated, with rules related to assembly, batteries, income, and more. As new EVs are added or removed from the list of eligible vehicles, we’ll have all the updates right here.
When considering the tax credit, it’s important to check which car models are eligible. For example, some Tesla, Chevrolet, and Toyota models may qualify for a $7,500 tax credit, while others like the Lucid Air and the foreign-builtHyundai Ioniq 5andKia EV6may not be eligible. Both fu...
Information on EV requirements and tax credits (on the IRS website) List of EVs eligible for the rest of 2022, into 2023 (on the DOE website) See if an EV is eligible for the tax credit by entering its VIN (on the NHTSA website) EV Buyer Beware: New Tax Credit Requirements and Im...
Why does the ID.4 RWD count as a car but the ID.4 AWD as an SUV? Welcome to the complicated world of EPA government rules and vehicle classes.
John Roe|Car and Driver UPDATE, 4/19/2023: The Department of Energy has released full information on the tax incentives and what vehicles are eligible (or not). See the full list here. Volkswagen has confirmed that its U.S.-built ID.4 qualifies for the full $7500 federal incentive. Las...
Canada isn't happy about EV tax credits that will eventually only apply only to U.S.-built EVs