Toyota is reaching the 200,000-vehicle limit thanks to strong sales of its plug-in gasoline-electric meaning the $7500 federal tax credit will no longer apply to Toyota EV purchases
The U.S. Department of the Treasury proposed a rule on Friday that would make it easier for consumers to get a $7,500 tax credit for new electric vehicles and a $4,000 credit for used EVs. The
The first table below includes the 20 vehicles that currently qualify for the f ederal tax credits for plug-in EVs and fuel cell EVs placed in service as of Jan. 1, 2024.Here are just some of the all-electric and plug-in hybrid vehicles that qualify for the new electric car tax credit for 2022: Vehicle. Type. Credit. Audi e-tron GT. EV. $7,500. Ford Mustang Mach-E. The list is available on the IRS website, with the tax credit scheme taking effect from January 1, 2023. Customers purchasing eligible vehicles may be entitled to a tax credit of up to $7,500 Ten of the models on the new list qualify for the full $7,500 tax credit, with the rest qualifying for half that amount. About 65 percent of the fully electric and plug-in hybrid vehicles sold P0Amo.