TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

How long will there stil be the Federal tax incentive of $7,500 for buying a new EV?

Discussion in 'Electric Vehicles' started by Benz, Jul 4, 2013.

  1. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    How long will there stil be the US Federal tax incentive of $7,500 for buying a new EV?

    I would like to know till when this Federal tax incentive of $7,500 for buying a new EV still will be there for new customers who still have to decide when they are going to buy their EV (in the US)?
     
  2. dsm363

    dsm363 Roadster + Sig Model S

    Joined:
    May 17, 2009
    Messages:
    18,235
    Location:
    Las Vegas, NV
    Until Tesla sells 200,000 vehicles or a new a congress cancels the program. It should be around for a few more years at least.
     
  3. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    That sounds good to me.

    But was there really stated that a specific EV manufacturer (Tesla Motors) has to reach a specific number of sold EV's (200,000) before they will end thin incentive program?

    And how about other EV manufacturers, do they also have a limit of 200,000 sold EV's? Or are there different numbers attached to each of the EV manufacturers?
     
  4. dsm363

    dsm363 Roadster + Sig Model S

    Joined:
    May 17, 2009
    Messages:
    18,235
    Location:
    Las Vegas, NV
    I believe I have this correct but the incentive program is not Tesla specific so it applies to all manufacturers. Chevy Volt qualifies for the $7,500 as well.
     
  5. jerry33

    jerry33 S85 - VIN:P05130 - 3/2/13

    Joined:
    Mar 8, 2012
    Messages:
    12,766
    Location:
    Texas
    Correct, but it's 200,000 qualifying vehicles per manufacturer.
     
  6. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    That's very generous of the American Government.
    Super, Fantastic and Awesome all at the same time.
    Maybe President Obama should call our Prime-Minister Rutte here in The Netherlands.
     
  7. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    But that total number of 200,000 qualifying vehicles per manufacturer does not include the vehicles that are sold/delivered to customers who do not live in the USA, right?
    So, the European deliveries of the Tesla Model S are not included in that total number of 200,000 qualifying vehicles per manufacturer, right?
     
  8. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Active Member

    Joined:
    Jul 12, 2012
    Messages:
    4,503
    Location:
    Maine
    #8 ItsNotAboutTheMoney, Jul 5, 2013
    Last edited: Jul 5, 2013
    The tax man says ...

    Plug-In Electric Drive Vehicle Credit (IRC 30D)

    The environment man says ...

    Federal Tax Credit for Electric Vehicles Purchased in or after 2010


    EDIT:
    Note that the phase begins 2 quarters after manufacturer hits 200,000. So it behooves manufacturers:
    - To lower the cost of the vehicle well before they get to 200,000 so monthly sales are high when they hit the number
    - Time it so that they cross 200,000 on the first day of a quarter.
     
  9. yobigd20

    yobigd20 Well-Known Member

    Joined:
    Oct 28, 2012
    Messages:
    5,793
    Location:
    Skaneateles, NY
    I thought it was 200,000 credits per manufacturer? Meaning that they can make 400,000 but if only half the people get the credit then you could still be car # 400,000 and qualify. (so in that sense then cars shipped to non-U.S. customers don't count)

    - - - Updated - - -

    yep, as per the above post "sold for use in the United States"
     
  10. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Active Member

    Joined:
    Jul 12, 2012
    Messages:
    4,503
    Location:
    Maine
    #10 ItsNotAboutTheMoney, Jul 5, 2013
    Last edited: Jul 5, 2013
    No, it's not credits, it's qualifying vehicles, because under perverse US logic, if you can't qualify for the tax credit you don't need it or deserve it to buy the vehicle.
     
  11. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    The people in the US who bought a Tesla Roadster, did they get a tax credit as well?
     
  12. bollar

    bollar Disgruntled Member

    Joined:
    May 1, 2013
    Messages:
    2,243
    Location:
    Southlake, TX
    The US EV tax credit has been available since 2009.
     
  13. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    Would it be possible to find out how many Tesla Roadsters were bought by customers in the US who got a tax credit for it?
     
  14. Benz

    Benz Active Member

    Joined:
    Nov 15, 2012
    Messages:
    1,907
    Location:
    Netherlands
    So, actually there is no time limit to it, as to when this number of 200,000 needs to have been reached, right?
     
  15. timf

    timf Member

    Joined:
    Apr 14, 2013
    Messages:
    900
    Location:
    Michigan
    Correct, there is currently no end date set for the tax credit. That's not to say the tax laws can't be amended at a later time to include an end date, as they likely will be at some point.
     

Share This Page