[IB M]

Originally Posted by F32Fleet

Problem is that so many major markets are phasing out ICE by some future date. Iirc EU is aiming for 2035.

Yup that's why Toyota Tacoma 6MT, V8 4Runner Sport and 2021 TRD 4runner are never ever ever going to depreciate. And V8 M3s - sky is the limit

[Quadruple VANOS]

The legislation includes hiring 87,000 additional IRS agents for massively increased enforcement; and people are still trying to work the margins on the EV tax credit?

[Quadruple VANOS]

Originally Posted by MackSea70

None of this seems like a way to get the already skeptical population to buy more EVs and actually achieve reduced carbon emissions. You're taking an already expensive product, making it even more expensive, not making it more broadly available, nor doing anything to improve the substantially lacking electrical infrastructure needed to truly make EVs a reality.

What am I missing here?

Your focus on the carrot getting smaller is what's causing you to "miss" or forget about the stick. The need to get the population to buy more EVs becomes less and less of an issue as government mandates regulate ICE out of existence. In other words you're not going to have a choice anyway, so this is really just about putting a finger on the scale to favor Democrat party allies.

[leorod_rn]

Imagine beating inflation by signing a $750 Billion debt bill.

[bloozemanAZ]

Originally Posted by zinner

Don't worry the billions we are spending on IRS agents will help you figure out your 7500 tax credit. Rich people don't care, they have lawyers and llc's and write offs that run circles around folks that file 1040's. In the end the price of EV just got raised 7500 bux.

Wow. Guessing you should shore up in Mar-a-Lago and wait for the eventual raid of sanity vs nonsense. If you have a clue you will know why the government is hiring IRS agents but you obviously don't so stopping there.

I'm not rich but I own my own destiny and I can't even beat the floor on a schedule A for itemization. AmI losing sleep on that? Not at all as literally I'm debt free outside of my mortgage at 2% (dirt cheap) and could have bought it out 10 years ago or tomorrow but my $ is making more elsewhere.

Boo hoo on the supposedly increase of $7500 on an EV people may have been looking for as a government subsidy. Get your big boy pants on, define your destiny and buy what you want. Peace out 🤟

[NGT2]

Originally Posted by F32Fleet

Problem is that so many major markets are phasing out ICE by some future date. Iirc EU is aiming for 2035.

I think a lot of that gets pushed back, but we will see. There's a lot of cart before the horse out there.

[pharding]

The $7,500 incentive is a great thing for consumers and for our future. Hopefully those of us that made a down payment on an i4 order will be able to benefit. I lease a Model 3 LR. BEVs are awesome. Prior to that I leased BMW 5ers for 17 years.

[bloozemanAZ]

Originally Posted by pharding

The $7,500 incentive is a great thing for consumers and for our future. Hopefully those of us that made a down payment on an i4 order will be able to benefit. I lease a Model 3 LR. BEVs are awesome. Prior to that I leased BMW 5ers for 17 years.

Roll with that as to each their own and hopefully you get the incentive. That said why? There are better investments the government can do to better society than giving you a tax break on your EV. Apologies on the disagreement but laissez-faire is something I truly believe in and has made me successful without a government subsidy.

[themnmd]

Subsidies and tax credits ultimately drive up the cost of anything,let alone electric cars. You can't force technology that is not ready for the masses. As the technology improves the price will come down and eventually be cheaper than gas vehicles. Just let the market forces work

[stefan]

Wait.. to reduce inflation, the government will print money to hand out to people under a certain income bracket when buying a car? I'm no economist but.....

I feel for Americans who are going to be beyond confused at tax time. No wonder they want to hire 80k new IRS workers.

[jc68]

Originally Posted by TurtleBoy

That seems like a CYA memo to make it look like they were being proactive with the situation. In all fairness though, really not much they can do under the dealership model since dealers are responsible with working directly with the clients.

It should also be noted they are incorrect about the implementation of certain aspects of the legislation. The MSRP and income are not implemented immediately but rather for vehicles delivered after 12/31/22.

Can others confirm this? The income rule is implemented for vehicles delivered after 12/31/2022?

[M3WC]

Originally Posted by techwhiz1

This is not true.
BMW sources cobalt and other materials from around the world. Cobalt comes from Morocco and Australia.

They don't use rare earth materials in their motors. Check their Responsible Minerals Initiative and the Global Battery Alliance.

Thats great but sourcing minerals need to be from US or FTA countries to qualify for $3750 minerals portion starting 1/1/23. Countries like Morocco, China, Argentina, Congo, etc are not FTA countries. One of BMW's lithium suppliers is US based Livent, but their mines are elsewhere like Argentina and China. All these brands are going to be working overtime to meet the new mineral minimum standards. Going to take years, with long contracts already place.

BMW gets their cells from CATL, Samsung SDI, Northvolt. All produce their cells outside US and FTA coutries. Highly likely BMW won't qualify for $3750 component minimum either. CATL has said they are going to build a cell factory(producing cells for BMW and Ford) in North America, but they haven't even chosen a site yet.

[M3WC]

Originally Posted by jc68

Can others confirm this? The income rule is implemented for vehicles delivered after 12/31/2022?

That is correct, income and msrp limits are not implemented yet.

Only aspect that was implemented at signing was "final assembly occurred in North America (final assembly requirement)".

Here is a link that has new list of vehicles eligible for the "old" ev credit and how one qualifies for it before 12/31/22.

https://www.irs.gov/credits-deductio...it-section-30d

[Paladin1]

Originally Posted by jc68

Can others confirm this? The income rule is implemented for vehicles delivered after 12/31/2022?

Slight revision - "for vehicles purchased after 12/31/2022," however that's interpreted.

[Tallest]

Which color is that of the g20 on the article image?

[F32Fleet]

Originally Posted by themnmd

Subsidies and tax credits ultimately drive up the cost of anything,let alone electric cars. You can't force technology that is not ready for the masses. As the technology improves the price will come down and eventually be cheaper than gas vehicles. Just let the market forces work

The counter argument is that it isn't happening fast enough. The spectre of climate change is driving, pun intended, this whole thing and has been for years.

[JK479]

Originally Posted by RalphT5

Hate to say it but the whole EV thing pushed me in the direction of the M5. I had been on the fence seriously contemplating a G80 to replace my F80. I then saw the new dash on the G80 and realized that 2023 was the last year for the F90 and its V8 so it was now or never. After riding in a coworker's Model S, I was convinced ICE is still where my heart is. Now my F90 is on a ship between Europe and Galveston and I'm anxiously awaiting delivery in September.

I'm glad you had a level head in all of this- can't say the same for me. I've been scouring dealers to try and see if the IX found on the lot at MSRP. I really enjoyed my test drives and think it could be an x5 replacement for my family.

I agree with you 100 percent about idrive 7 and the physical buttons.

You're absolutely love the M5. We could learn from your experience of just going with your heart and feel opposed to pure straight line acceleration and hype on EV.

[pharding]

Originally Posted by themnmd

Subsidies and tax credits ultimately drive up the cost of anything,let alone electric cars. You can't force technology that is not ready for the masses. As the technology improves the price will come down and eventually be cheaper than gas vehicles. Just let the market forces work

You mean just like: hedge fund managers that pay little to no taxes on hundreds of millions of dollars of income; real estate developers like Trump that receive massive tax benefits; Midwest farmers with massive Federal subsidies; Ranchers using Federal lands for almost free for cattle grazing? $7,500 for my BEV is chump change in comparison.

[themnmd]

Originally Posted by F32Fleet

The counter argument is that it isn't happening fast enough. The spectre of climate change is driving, pun intended, this whole thing and has been for years.

The world has been ending in 10 years for 30 plus years . 😂

[themnmd]

Originally Posted by pharding

You mean just like: hedge fund managers that pay little to no taxes on hundreds of millions of dollars of income; real estate developers like Trump that receive massive tax benefits; Midwest farmers with massive Federal subsidies; Ranchers using Federal lands for almost free for cattle grazing? $7,500 for my BEV is chump change in comparison.

Tax breaks for companies,farms or any business should get a deduction for capital investment. That's not a direct subsidy. In other words ,they are not receiving tax (our) money . As far as companies now taking deductions or credits or even subsidies, they all take them because they are there and legal. If you ran a business would you not do they same? You would be foolish not to. The key to reduce the need for much of this is to make it less expensive for any company to do business, less taxes and regulations etc. I could go on but I would have to charge for a Econ 101 class, lol .

[JerZBMerLife]

😂😂😂😂. Would compliment the person humble bragging, but not very humble. 😂😂😂. Not sure if there's some chick on the post you're trying to impress bro.

[TXSchnee]

Originally Posted by themnmd

Tax breaks for companies,farms or any business should get a deduction for capital investment. That's not a direct subsidy. In other words ,they are not receiving tax (our) money . As far as companies now taking deductions or credits or even subsidies, they all take them because they are there and legal. If you ran a business would you not do they same? You would be foolish not to. The key to reduce the need for much of this is to make it less expensive for any company to do business, less taxes and regulations etc. I could go on but I would have to charge for a Econ 101 class, lol .

The $7500 was a tax credit that individuals could take. It is exactly the same thing you are praising businesses for, so either you agree that the $7500 is (was) good and people taking it are doing the smart financial thing, or you think all tax credits, across the board, are bad and should be ended. It cannot be bad for the individual but good for a company.