DETROIT (AP) — Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S. government income tax credits at the time of purchase. Eligible buyers, including those that bought an EV or hybrid this year, have had to wait until they filed their federal income tax returns to actually get the benefits. The Treasury Department says the near-instant credits of $7,500 for an eligible new vehicle and $4,000 for a qualifying used vehicle should lowe
DETROIT — Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S.
Plus, the government says people can get the full credits from dealers regardless of how much they owe in federal taxes. To be eligible, electric vehicles or plug-ins have to be manufactured in North America. SUVs, vans and trucks can’t have a sticker price greater than $80,000, while cars can’t sticker for more than $55,000.There also are income limits for buyers set up to stop wealthier people from getting the credits. Buyers cannot have an adjusted gross annual income above $150,000 if single, $300,000 if filing jointly and $225,000 if head of a household.
Sales of new electric vehicles for the first nine months of the year rose 50.9% from the same period a year ago, pushing the EV market share up slightly to 7.5%. U.S. consumers bought 875,798 EVs from January through September.Russia has long hoped to triumph by continuing the war for so long that the West gets exhausted. Signs of that fatigue are starting to emerge.
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