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Posts Tagged ‘electric vehicle incentives’

Battery-Car Buyers a Young and Affluent Lot

EVs a powerful draw for wealthy deal seekers.

by on May.06, 2015

EVs tend to draw more affluent buyers who are looking for a deal to offset the high price of the vehicles.

While sales of battery-based vehicles have lagged well behind industry expectations, manufacturers have been pleasantly surprised to discover that buyers are both younger and more affluent than those buying comparable gas-powered models.

But for most of those folks, going green wasn’t necessarily the only reason to buy a car like the Ford Focus Electric or Toyota Prius Plug-in. They were also attracted by the great deals manufacturers like Ford, General Motors, Toyota and Honda have been offering in an effort to build momentum for their electrified models, according to research by auto data firm

Power Up!

“EV buyers are affluent deal-seekers benefitting from big OEM discounts and (as much as) $10,000 of federal and state tax subsidies,” noted TrueCar President John Krafcik. (more…)

Congress Lets Battery Vehicle Tax Credits Expire

Lack of action could impact future battery vehicle sales.

by on Dec.31, 2013

The failure to pass tax breaks, including one for electric vehicle chargers, could cause the battery car business to come unplugged, warn advocates.

The action – or more accurately, the lack of action – by Congress has been blamed for many things this past, gridlocked year.  To the list add the potential for the electric vehicle market to come unplugged.

Lawmakers have headed home for the New Year’s break allowing a package of 55 generally popular tax breaks expire, an issue that creates potential headaches and added costs for those who drink imported rum, those who use mass transit – as well as the railroads trying to maintain their rights of way – film producers, companies investing in R&D, and even teachers who buy supplies for their classrooms. Also affected are those interested in purchasing electric vehicles.

Stay Plugged In!

While the tax credits for buying a battery car remain in effect, two other government incentives will expire at midnight: one providing a 30% tax credit for the purchase of a high-speed electric vehicle charger, up to $1,000.  The other covers 10% of the cost, up to $2,500, for the purchase of an electric motorcycle.

“It’s shameful” for Congress to head home without acting on the tax breaks, lamented Georgia’s Congressman John Lewis, a senior Democrat on the House Ways and Means Committee, which oversees tax laws.


A Nissan Leaf for $12,000?

Extensive tax incentives could shave nearly 2/3 off sticker price.

by on Oct.25, 2010

Could you put a 2011 Nissan Leaf in your driveway for just $12,000?

Imagine getting a new 2011 Nissan Leaf for nearly two-thirds off the sticker price.  That very well could happen for some buyers of the battery-electric vehicle if they live and work in the right places.

Given the range of tax credits and other givebacks coming online, some Leaf customers could drive one home for barely $12,000.

Nissan has put a base of $32,780 on the BEV.  But that doesn’t take into account the $7,500 federal tax credit that will be offered on the 2011 Leaf (for the first 200,000 customers, anyway).

And it also ignores an array of state and local incentives, and even some incentives from green-minded employers, notes Mark Perry, the Nissan product planning chief overseeing the maker’s battery program.

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Washington State, for one, waves the sales tax for buyers. The State of Colorado, meanwhile, has approved a $6,000 credit of its own.  In fact, 13 states now have some form of financial incentives in place covering battery cars and other green, high-mileage models, including the 2011 Nissan Leaf.

In California, the credit is a smaller $5,000, but Leaf buyers also will get the coveted HOV decal that permits a motorist to drive in the freeway car pool lanes even with only one person onboard.