As the new year begins, a number of popular electric vehicles, specifically some Tesla and General Motors models, could be eligible for $7,500 worth of tax credits they weren't eligible for in 2022. But that eligibility may last only last a few months.
While that could create a buying opportunity in the first months of the year, the downside is that it just adds to confusion around what is already a baffling set of rules — even by tax regulation standards. Under the new EV tax credit rules, the Chevrolet Bolt EV and EUV are eligible for tax credits in the new year. They had previously been ineligible because, even though they're built in North America — one of the requirements under the new rules — General Motors, Chevrolet's parent company, and Tesla had long ago sold more than 200,000 plug-in vehicles. That was the limit for any given manufacturer under the outgoing tax credit requirements.
"It shuffles the deck as to who's eligible, and then the deck will get shuffled again when this guidance comes out [in March]," said Harto."And it just makes a giant mess for consumers, and automakers, and dealers."
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