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Open Roads Forum  >  Around the Campfire

 > EV's tax credits

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wanderingaimlessly

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Posted: 01/03/19 07:10am Link  |  Quote  |  Print  |  Notify Moderator

Just saw an article that says GM has reached a milestone which will start the cut of its EV tax credits, and that Tesla did as well back in the early fall.
This will likely be the do or die tipping point for the EV bandwagons as to whether it is the future many have dreamed, or will they peter out when the full cost is borne by the consumer.
For those that are fans, you may want to shop now.

https://thehill.com/policy/technology/423642-gm-hits-200k-electric-vehicles-sales-in-us-triggers-tax-credit-phase-out

SidecarFlip

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Posted: 01/03/19 01:37pm Link  |  Quote  |  Print  |  Notify Moderator

Not a fan at all but yes, the rebates are just about done, Why GM is discontinuing the Volt. No gummit kickback.


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camperdave

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Posted: 01/03/19 01:55pm Link  |  Quote  |  Print  |  Notify Moderator

Meh. They will stand just fine on their own. I'm on EV #3 and have no plans to stop now. Many of us feel like the rebates were a PR disaster and should have never been there. Take a look at all the hate the Volt took. It's because of the government involvement. On its own 4 wheels, it's an awesome car. But it can't overcome the political hate.

It's beyond time for EVs to live or die on their own. Spoiler alert, they will live.


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ItsyRV

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Posted: 01/03/19 02:01pm Link  |  Quote  |  Print  |  Notify Moderator

SidecarFlip wrote:

Not a fan at all but yes, the rebates are just about done, Why GM is discontinuing the Volt. No gummit kickback.

Has nothing to do with it.

The Volt is a electric gas hybrid CAR which is not popular. In CARS people want and buy more in all electric models. GM recognized that in the USA trucks, SUV's and Crossovers are the sellers so they will be focusing hybrids and all EV's in that group. But, the Bolt still has string sales numbers and it's an all electric CAR.

The tax credit was not that big a deal to GM or Ford because the base price was still within the range average EV or Hybrid purchasers would pay without a tax credit. Tesla on the other hand needed the tax credit to lower the price down to the level a typical EV owner would pay. Tesla just announced that due to their models decreasing tax credit, they are going to have to lower the price of the car equally to keep buyers buying.

For GM the Volt no longer meets the desire of customers so it is going. The Bolt is staying and selling with and without tax credits.


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Chakara

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Posted: 01/03/19 10:03pm Link  |  Quote  |  Print  |  Notify Moderator

QUOTE ItsyRV: "Tesla on the other hand needed the tax credit to lower the price down to the level a typical EV owner would pay. Tesla just announced that due to their models decreasing tax credit, they are going to have to lower the price of the car equally to keep buyers buying.


I think that is telling. So the customers weren't getting the rebate - Tesla was.


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ItsyRV

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Posted: 01/03/19 10:55pm Link  |  Quote  |  Print  |  Notify Moderator

Chakara wrote:

I think that is telling. So the customers weren't getting the rebate - Tesla was.

No the customer gets the tax credit directly. But from a sales angle, customers were bamboozled to equate that credit to a lower sales price when in reality it only works if that customer actually uses the tax credit to pay down the cost of the car. Most customers don't because it;s paper money against taxes, not a check in hand. Now that the big credit is being phased out, customers no longer have fantasy money to use to pretend the price is lower so the full cost is what they see. Since Tesla's cost so much more, the company decided to lower the price to compensate for the tax credit loss. The other manufactures electric vehicles cost so much less that the tax credit wasn't a selling feature so much as added bonus.

time2roll

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Posted: 01/03/19 11:16pm Link  |  Quote  |  Print  |  Notify Moderator

Yes. Same as easy education loans increase the price of college.
At least the EV tax credit has an end.


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Hondavalk

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Posted: 01/04/19 06:36am Link  |  Quote  |  Print  |  Notify Moderator

Bought a Prius Prime in 2018 and part of the decision was based on the Federal tax credit. Not quite sure where the term "bamboozled" applies though. Whether the 4500.00 is applied to the sales price or gets refunded to me at tax time, I have 4500.00 back in my pocket.





Y-Guy

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Posted: 01/04/19 07:08am Link  |  Quote  |  Print  |  Notify Moderator

As this doesn't appear to relate to directly to Dinghy towing I'm moving this to the Around the Campfire forum.

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