In case you don't know, California requires a certain percentage of vehicles sold by each manufacturer to be either a Zero Emission or a Transitional Zero Emission Vehicle. The link is a great article to explain this, and to show why Honda is aiming to sell about 15,000 Clarities in the US in 2018. That number of sales should allow Honda to comply with the Zero Emission standards without having to pay a fine, or buy Zero Emission credits from another car manufacturer. https://seekingalpha.com/article/4174973-teslas-zev-credit-lifeboat-may-hit-iceberg
If I'm reading this correctly, the previous earned PZEV and AT PZEV credits are discounted going forward. I don't see where this guy factored that in his analysis. https://www.arb.ca.gov/msprog/zevprog/zevtutorial/zev_tutorial_questions_and_answers_jun2016.pdf https://www.arb.ca.gov/msprog/zevprog/zevtutorial/zev_tutorial_webcast.pdf