So if this new bill goes into effect, from what I researched the bolt would be eligible for the full 7500 as long as I take delivery on January 1st 2023 plus my state (NY) has a 2000 credit as well at the time of purchase. That’s 9,500 dollars off honestly sounds to good to be true. what’s everyone’s take?
Its essentially back to where we were in 2017 when I bought my Bolt EV, but prices are so much lower now for the Bolt EV that its a bargain.
Credits don't prevent dealers from adding markups out the wazoo. Plus GM and others are still haveing trouble making cars, so get your reservation in early, and make sur you don't take delivery before 2023,
I don't think it will happen due to the battery components and material restraints. If you are lucky, you might get $3,750 in federal tax credits, but even that may be a long shot. The CBO is predicting only 85 million dollars in tax credits for 2023 for new EVs. https://www.cbo.gov/system/files/2022-08/hr5376_IR_Act_8-3-22.pdf Note this bill still has to be passed by the house which could make changes. If they make changes, then the two versions of the legislation will have to be reconciled. So I guess we should wait and see what the final legislation contains, before counting our chickens. It's going to take a massive movement in the supply chain which won't happen very quickly if it happens at all.
Typical gummint BS, lead by Joe Manchin and his coal mining corporation constituents, probably. Big oil doesn't like EV tax crdits, either.
The implementation of this bill won't be straightforward - anticipate rules changes to include verification by VIN necessary. If *your* Bolt has a battery pack that meets the 40% free trade threshold (however that is measured) that's $3750. If it has a non-conforming battery pack it would only qualify 1/2 the tax rebate. If you can take delivery from existing stock now, there's no advantage in waiting
