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  • William Maley
    William Maley

    By William Maley •

    House GOP's Tax Plan Will Scrap Electric Vehicle Credit

      This will make EVs even a tougher sale

    One key selling point automakers have been using to move electric vehicles is the federal tax credit of up to $7,500. But a new tax cut bill being proposed by House Republicans could eliminate that credit.

    The bill announced today includes a provision of eliminating the credit after the 2017 tax year if the bill goes into law.

    The credits are important as it helps level the playing field between internal combustion engines and EVs. Currently, the credit will begin to phase out once an auto manufacturer once it sells 200,000 EVs or plug-in hybrids. Bloomberg reports that Tesla would be the first automaker to reach the limit, followed by GM and Nissan. If that tax credit is eliminated, automakers worry they would experience a plunge in sales.

    “The credits matter a lot. In states without EV mandates or incentives, you’ll see sales crater,” said Eric Noble, president of the CarLab.

    Bloomberg cites the example of Georgia which cut its $5,000 electric vehicle tax credit back in 2015. Sales tumbled from 1,400 to just fewer than 100.

    Automakers are spending a lot of money and time in lobbying to make sure the credit is renewed partly due to new mandates being placed by California and a number of other states saying a certain percentage of new cars sold have to EVs.

    "The potential elimination of the federal electric vehicle tax credit will impact the choices of prospective buyers and make the electric vehicle mandate in 10 states — about a third of the market — even more difficult to meet," said Gloria Bergquist, a spokeswoman for the Alliance of Automobile Manufacturers, a trade group representing various automakers such as GM and Toyota.

    Source: Bloomberg, Reuters

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    ocnblu
    8 hours ago, surreal1272 said:

    And when I get one is none of his business given the obvious tactic here. 

    I guess you're not then.  And our own Mr. dfelt didn't get a Bolt immediately because of the white dash trim.  I can understand that, since it was a super valid reason for not getting us off those nasty fossil fuels that hinder our growth.  White dash trim is worse than gasoline.

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    ocnblu
    9 hours ago, Drew Dowdell said:

    I'm waiting until the CPO CT6 PHEVs are widely available. 

    The CT6 is a sharp car.  Not so sure about the pee heaving part, but OK.  Pics when you get it.

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    A Horse With No Name
    12 hours ago, ocnblu said:

    Are you getting one this week?  :wub:  PICS PLEASE!

    It would be so nice if he was...just like I would like to see you in an F150 4 x 4 with a nice color and a nice option package.  I like the idea of a wide range of choices for car buyers,  Gas, diesel, electric and steam.

    I think I would like to now a vintage Stanley steamer, seriously.

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    surreal1272
    3 hours ago, ocnblu said:

    I guess you're not then.  And our own Mr. dfelt didn't get a Bolt immediately because of the white dash trim.  I can understand that, since it was a super valid reason for not getting us off those nasty fossil fuels that hinder our growth.  White dash trim is worse than gasoline.

    Just stop the bull$h! OCN. We get it. You think EVs suck while you parade around in a POS Jeep. Honestly, just take a flying leap. 

     

    BTW, my reasons for not having one are quite simple. I’m selling my house soon and don’t want to take on extra debt genius. It has zero to do with the car itself.

     

    Grow the f@#k up.

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    David
    7 hours ago, ocnblu said:

    I guess you're not then.  And our own Mr. dfelt didn't get a Bolt immediately because of the white dash trim.  I can understand that, since it was a super valid reason for not getting us off those nasty fossil fuels that hinder our growth.  White dash trim is worse than gasoline.

    Since the wife was going to drive it the most and she has to see it every day and I care about making sure she is happy like any of us with our spouses, yes, sadly the white dash accent was a deal killer. If the dash was all black, we would have one. 

    So now I await the new EV's from GM and hope they do not mess it up. If they had the Mocha trim or dark brown accent dash, she would have gone for that as she loves the brown interiors and the warmth it gives over black. But not going to spend money on a new auto till she really likes it. After all no auto payments at all, so just save till the right EV comes along and BOOM, we will have it.

    Then I will show it off and share the experience with you all. :D 

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    ocnblu
    9 hours ago, surreal1272 said:

    Just stop the bull$h! OCN. We get it. You think EVs suck while you parade around in a POS Jeep. Honestly, just take a flying leap. 

     

    BTW, my reasons for not having one are quite simple. I’m selling my house soon and don’t want to take on extra debt genius. It has zero to do with the car itself.

     

    Grow the f@#k up.

    That's a good enough reason.  You're off the hook.  Thanks.

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    balthazar
    On 11/9/2017 at 10:39 AM, Drew Dowdell said:

    No, EVs won't drop below ICEs... but ICE pricing will be nudged upwards providing the same effect. 

    Probably true; meaning any economies of scale WON'T be passed on to EV buyers, and IC buyers will get gouged in tandem.

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