The first plug-in hybrid on the list, the Wrangler 4圎, sold 10,861 units last quarter. With a starting MSRP of $43,895, the base Mach-E could qualify as a car or SUV, and because the Mach-E is assembled in Mexico, it actually would qualify for the tax credit. Ford Mustang Mach-EĬoming in second in sales last quarter for EVs and PHEVs was the Ford Mustang Mach-E, with 10,941 units sold. As for the Model Y, both trims qualify (Long Range - $65,990 Performance - $69,990) assuming the government classifies the Model Y as an SUV. However, only the lowest trim Model 3 Rear Wheel Drive qualifies (MSRP $46,990). (Note: Tesla does not break out sales between Model 3 and Model Y, but registration data is used as a proxy.) The Automotive Alliance for Innovation lists all the zero emissions EV and PHEVs for sale in America here, along with a map and list of EV and battery manufacturers in America.Īlong with that information and quarterly sales reports, Yahoo Finance has verified how the following cars, the top 5 selling EVs and PHEVs in America, will fare under the new rules.īoth U.S.-made Model 3 sedans and Model Y SUVs, the top selling EVs in America, would qualify for the tax credit following passage, a boost for the brand because Tesla is currently phased out of the tax credit. Note that these are just requirements on the automaker end the bill adds income requirements on the consumer that will make many high-earning Americans and joint filers ineligible for the tax breaks. The final component of battery sourcing, coming in less than two years time, means no EVs will qualify for the credit, according to Bozzella. or free-trade partners, with phase-in starting in 2024 MSRP needs to be below $55,000 for cars, and below $80,000 for trucks and SUVsīattery material sourcing must be sourced from U.S. These are the main requirements that will change and make the EV tax credits more restrictive:įinal assembly needs to take place in North America “Seventy percent of those EVs would immediately become ineligible when the bill passes and none would qualify for the full credit when additional sourcing requirements go into effect. “There are 72 EV models currently available for purchase in the United States including battery, plug-in hybrid and fuel cell electric vehicles, says John Bozzella, CEO of the Alliance for Automotive Innovation, a trade group that counts General Motors, Toyota, and Ford as members in a statement. While that sounds like good news for the automakers, several requirements have now been introduced that have the automakers claiming 70% of EVs and PHEVs (plug-in hybrid EV) will not qualify for the credit.
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