Treasury Reverses Course

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marshall

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More vehicles to qualify.

https://www.msn.com/en-us/money/com...A174X4q?cvid=fa91bc463c14456f8482e0840ad9d5ef

https://www.irs.gov/pub/irs-drop/n-23-16.pdf

SECTION 3. MODIFICATION TO NOTICE 2023-1 This notice modifies the expected vehicle classification standard set forth in Notice 2023-1 for determining whether a vehicle is a van, sport utility vehicle, pickup truck, or other vehicle for purposes of the § 30D credit. Instead of the standard described in Notice 2023-1, the proposed regulations are expected to provide that, for purposes of § 30D(f)(11)(B), a vehicle’s vehicle classification is to be determined consistent with the fuel economy labeling regime described in 40 CFR 600.315-08 for vans, sport utility vehicles, pickup trucks, and passenger vehicles, as classified by the Administrator of the EPA. Accordingly
 
More vehicles to qualify.

https://www.msn.com/en-us/money/com...A174X4q?cvid=fa91bc463c14456f8482e0840ad9d5ef

https://www.irs.gov/pub/irs-drop/n-23-16.pdf

SECTION 3. MODIFICATION TO NOTICE 2023-1 This notice modifies the expected vehicle classification standard set forth in Notice 2023-1 for determining whether a vehicle is a van, sport utility vehicle, pickup truck, or other vehicle for purposes of the § 30D credit. Instead of the standard described in Notice 2023-1, the proposed regulations are expected to provide that, for purposes of § 30D(f)(11)(B), a vehicle’s vehicle classification is to be determined consistent with the fuel economy labeling regime described in 40 CFR 600.315-08 for vans, sport utility vehicles, pickup trucks, and passenger vehicles, as classified by the Administrator of the EPA. Accordingly
"...the retail price cap is raised to $80,000 from $55,000 for the Cadillac Lyriq, Tesla's five-seat Model Y, Ford Mustang Mach-E, and rear-wheel-drive variants of the Volkswagen ID.4."
US Treasury Makes More Tesla, Ford, GM EVs Eligible For Tax Credits

I expect Tesla will raise Model Y prices somewhat in light of this. Should be an interesting re-shaping of the market here shoortly.
 
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