11-03-2021, 04:15 PM | #1 |
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US Federal EV Credit Bill
I've seen some news that the i4 won't qualify for the proposed federal rebate in Congress due to a maximum MSRP of $55k. Personally that would lead me to look elsewhere for my next purchase, and I'm sure many others are in the same boat. What is the particular bill that we should reach out to our representatives about? I've heard the senate is looking to raise the cap. Is there a way to show direct support of that proposal?
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11-03-2021, 04:27 PM | #2 | |
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11-03-2021, 06:04 PM | #3 | ||
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I was under the impression it's the same car. when I look at the configuration in various countries it's listed as same model different engine/trim. In the US the cars are called an i4 there are two variants the eDrive40 and M50. The 328, 340, 340ix are not different models but the same car with different trim and engines.
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11-03-2021, 06:33 PM | #4 | |
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Regardless, I'm certain manufactures will try and massage the way they label different trims to fit the bills language but I'm still a little worried. |
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11-03-2021, 07:30 PM | #5 | |
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The OEM where I did product planning operated this way, as does every OEM with which I am familiar. BMW is the same. If you look at this excerpt from one of their pricing guides, note the model code difference from a 430 Coupe (NA 194B and AG 4W33) versus the same body vehicle as a 440 Coupe (194E and AG 4W73). The model codes are called out on the individual model pages for each nameplate. Then, you see the packages in the 3 character sales codes. This shows that MSport is a Package, for example. However, the step from 430 to 440 is a separate model.
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11-03-2021, 08:35 PM | #6 |
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Got it.
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11-05-2021, 09:36 AM | #7 |
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https://www.cnet.com/roadshow/news/e...p-trucks-suvs/
The main changes to the program when it was first announced earlier this year: Remove the 200,000 vehicles per manufacturer cap Keep the $7,500 incentive for new electric cars for 5 years Make the $7,500 incentive a point-of-sale discount instead of tax credit EVs with battery pack smaller than 40 kWh are limited to a $4,000 incentive Add an additional $4,500 for EV assembled at union factories Add another $500 for EVs using battery packs with 50% of components (including cells) are made in the US After the first 5 years, the $7,500 becomes only for US-made electric vehicles and it applies for another 5 years. They introduce price limits on the EVs eligible for the incentives: Sedans under $55,000 SUVs under $69,000 Pickup trucks under $74,000 Vans under $54,000 They are also introducing caps on income to get access to the incentives, but they are fairly high at an adjusted gross income of up to $400,000 for individuals and up to $800,000 for joint filers. Last edited by USA-RET; 11-06-2021 at 08:07 AM.. |
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11-05-2021, 12:18 PM | #8 | |
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Sedans are always going to be more efficient than trucks no matter the fuel. It makes no sense to exclude a $56k sedan, but give full credit to a Escalade type SUV. |
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11-05-2021, 12:42 PM | #9 |
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If "con" is the opposite of "pro"...
We know what the opposite of progress is...
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11-06-2021, 07:06 AM | #10 |
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SUV and Trucks weigh more. Much of the weight is batteries. Batteries = $$$. So that is why it makes sense to have higher MSRP allowance for SUVs and Trucks for same range with heavier vehicle and payload.
I think it also makes sense from a primary and light commercial standpoint. Those vehicles do many more miles, so incentivizing those vehicles to EVs makes sense environmentally speaking. They should also incentivize the switch for long range trucking if that is the goal. |
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11-11-2021, 05:47 AM | #12 |
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11-12-2021, 11:05 AM | #13 |
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11-12-2021, 12:35 PM | #14 | |
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It is marked "Effective October 4, 2021". it is possible for them to make changes to reflect a lower price. They could simply make the comfort access and garage door opener "options" and tell everyone that it will be late 2022 if you want the car without them. Or they could simply lower the price by $400 and charge destination of $1395 instead of the $995. They just need to make it happen. On a side note. Tesla has raised their prices again to get part of the rebate/credit. Funny how they think they should profit off what was clearly designed to motivate EV adoption. One more reason not to like Tesla.
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11-12-2021, 01:18 PM | #15 |
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Really can't blame Tesla for taking advantage of supply/demand dynamics. If they keep it up, they will soon solve their demand problem.
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11-12-2021, 02:26 PM | #16 |
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Also just thought about something.
BMW could simply remove the moon roof as standard to reduce the cost by $1000. It's not standard in all markets. Easy for price reduction
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11-12-2021, 03:31 PM | #17 | |
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Here's how the proposed changes shake out, and keep in mind, they may change yet. The base amount remains $4,000, as it is today, with another $3,500 available if the EV's battery pack includes at least 40 kilowatt-hours of capacity. In the case of plug-in hybrids, the gas tank cannot exceed 2.5 gallons. This is for cars placed in service before 2027. However... It looks like that new cap may sink that? 55k for sedans, and 80k for SUVs. I just can't find anything that says the current 7.5k credit will be allowable under the new rule for cars that have a starting MSRP over the limit. We have an i4 M50 an an iX ordered/preordered up and while it would be nice to not lose the incentive, we will not change our mind based upon it being aced. |
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11-12-2021, 07:41 PM | #18 | ||
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I'm more interested in the SALT cap. I pay property tax in California on two houses. The car will have about $8K in state taxes. Then there is my state taxes on income. I can't help but feeling like I get screwed no matter who is in the white house.
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11-12-2021, 10:44 PM | #19 | |
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Instead, I think they would keep the i4 as a premium car above $55K. Then introduce a car sized like a 2 series around $45K. Then that can get more expensive over the years to the $55K cap. What we may end up with is a market gap of no cars between say $50K and $60K due to the rebate caps. |
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11-13-2021, 02:17 AM | #20 | ||
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In that case it doesn't matter since this car will be gone by 2026/7. The new platform will have been introduced.
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11-13-2021, 10:08 AM | #21 | |
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I agree folks of higher income brackets usually get hit one way or the other, especially in California. It's like Willie Sutton's comment on robbing banks...."it's where the money is.". But we all do better when the occupant of the residence you note is sane.
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11-13-2021, 10:13 AM | #22 | |
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