EV Tax Credit - What are the odds it makes a comeback?

[pdx_m3s]

With a new administration and congress, what are the odds that the EV tax credit makes a comeback?

We are looking to get a Model Y this year, but aren't in a huge rush. The EV credit would sure make our decision a little easier. It's not a cheap vehicle.

 

[strider]

I think it is a safe to assume that it will come back as the new admin will look to placate the Green New Deal folks while not really giving us a GND. Resetting the EV tax credit would be a small bone to throw. Though they may make it income dependent like California did.

 

[dipper]

I think it is a safe to assume that it will come back as the new admin will look to placate the Green New Deal folks while not really giving us a GND. Resetting the EV tax credit would be a small bone to throw. Though they may make it income dependent like California did.

Don't forget price restrictions too in the CA program.

 

[glide]

The credit didn’t go away. It just no longer applies to Tesla.

Will it be coming back for Tesla? No f’ing way. Their current pricing takes the lack of a credit into account. Notice how they were lowering prices each time the credit halved?

The optics of subsidizing $50-100K vehicles for wealthy people means it is simply not happening.

 

[nwdiver]

With a new administration and congress, what are the odds that the EV tax credit makes a comeback?

We are looking to get a Model Y this year, but aren't in a huge rush. The EV credit would sure make our decision a little easier. It's not a cheap vehicle.

I hope so. They need to shift to a $10k point of sale credit. Raise the tax on fools fuel if they're worried about the defect. And a $10k flat credit would be progressive. 'Rich' people would get a 10% discount when they buy a $100k car... A $30k car would get a 30% discount.

 

[Altair7]

The credit didn’t go away. It just no longer applies to Tesla.

Will it be coming back for Tesla? No f’ing way. Their current pricing takes the lack of a credit into account. Notice how they were lowering prices each time the credit halved?

The optics of subsidizing $50-100K vehicles for wealthy people means it is simply not happening.

Exactly so.

If you are committed, just buy the thing. If not, you are only virtue signaling with OPM (other peoples money).

 

[pdx_m3s]

I hope so. They need to shift to a $10k point of sale credit. Raise the tax on fools fuel if they're worried about the defect. And a $10k flat credit would be progressive. 'Rich' people would get a 10% discount when they buy a $100k car... A $30k car would get a 30% discount.

100%. The current tool they are using (tax system) is not efficient if the goal is to get as many people in EVs as possible.

Tesla single handily created the current state of the EV market, accelerating its arrival. They should be able to take advantage of the same subsidies as everyone else. The cap system is counterproductive to transitioning the US fleet to EVs.

If they are going to use a vehicle delivery cap, it should be for the entire market as a whole, so it ratchets down across manufacturers evenly. Would incentivize manufacturers to get on board faster.

 

[pdx_m3s]

Exactly so.

If you are committed, just buy the thing. If not, you are only virtue signaling with OPM (other peoples money).

We’re certainly getting one. Just a matter of timing, as we have flexibility. A prudent buyer is wise to consider the potential for a future (effective) price cut. No need to be rude.

 

[RaisinCain]

We’re certainly getting one. Just a matter of timing, as we have flexibility. A prudent buyer is wise to consider the potential for a future (effective) price cut. No need to be rude.

Agreed. I’m not buying a Tesla to signal anything to anyone, and anyone who doesn’t look to minimize cost on any large purchase is being foolish, imho.

 

[DanCar]

Plan for Climate Change and Environmental Justice | Joe Biden

Biden will restore the full electric vehicle tax credit to incentivize the purchase of these vehicles.

 

[Uncle Paul]

I imagine that Feds will re-implement financial incentives to purchase EVs, while at the same time increasing the gas taxes (and indeed all energy)

 

[Uncle Paul]

Not unusual for new buyers to hear what they want to hear.

 

[DanCar]

Nanci Pelosi loading up on Tesla call options. https://twitter.com/congresstrading/status/1353139543655002113

 

[gg_got_a_tesla]

He will ensure the tax credit is designed to targeted middle class consumers and, to the greatest extent possible, to prioritize the purchase of vehicles made in America.

 

[alexgr]

My crystal ball tells me it's not gonna happen. Biden's boys and girls will be very busy this year re-aligning power and money flows to where they were during typical administrations. If GM would be really interested in EV and had a big hairy hand in the new administration then new tax credits could happen, but I don't think GM is so much interested, they'd rather lobby against anything with good MPGs. Chrysler - even worse, and Ford enjoys the existing credits this year to try to get ahead with competition. My advise - don't rely on new tax credits happening this year at least.