AC Bill
Well-known member
The S650 seventh generation Mustang had the worst sales ever last year. The history book for the iconic pony car stopped and trembled, at just 44k units sold in the US in 2024. That's almost ten percent less than in 2023, and in 2022. To add insult to injury, in 2024, the Mustang Mach-E saw a significant increase in sales, reaching 51,745 units in the US, surpassing the traditional gas-powered Mustang.
Ford attributed some of the rise in EV sales to the Ford Power Promise, a program that includes a complimentary home charger with standard installation for no extra charge, as well as access to a Ford adviser for EV support.
I have to wonder how much Trump's proposed provision to the bill will change the US marketplace of E vehicles?
"Termination of clean vehicle credit." The credit was originally set to expire December 21, 2032. A provision in the bill "accelerates the expiration to December 31, 2025." Americans would lose the ability to claim the EV tax credit in 2026.
Sec. 112002. Termination of clean vehicle credit.
Current Law: Under current law, taxpayers may claim a tax credit of up to $7,500 for clean newvehicles placed in service in a given taxable year. The maximum credit is comprised of two equalparts: the first $3,750 credit value is determined based on the critical mineral sourcing of thevehicle’s battery and the second $3,750 credit value is determined based on the sourcing of thebattery components. The credit is limited to incomes of $150,000 for single filers, $225,000 forhead of household filers, and $300,000 for joint filers. The credit is available to vans with aManufacturer’s Suggested Retail Price (MSRP) of $80,000, SUVs with a MSRP of $80,000, pickuptrucks with a MSRP of $80,000, and other vehicles with a MSRP of $55,000. The credit is set toexpire December 31, 2032.
Provision: This provision accelerates the expiration to December 31, 2025. This provision also implements a special rule for taxable year 2026 that only allows vehicles produced by manufacturers that have not sold 200,000 new clean vehicles as of December 31, 2025, to qualify for the credit.
Canada's federal rebate program ended, (although some Provinces still have rebates in place).
Ford attributed some of the rise in EV sales to the Ford Power Promise, a program that includes a complimentary home charger with standard installation for no extra charge, as well as access to a Ford adviser for EV support.
I have to wonder how much Trump's proposed provision to the bill will change the US marketplace of E vehicles?
"Termination of clean vehicle credit." The credit was originally set to expire December 21, 2032. A provision in the bill "accelerates the expiration to December 31, 2025." Americans would lose the ability to claim the EV tax credit in 2026.
Sec. 112002. Termination of clean vehicle credit.
Current Law: Under current law, taxpayers may claim a tax credit of up to $7,500 for clean newvehicles placed in service in a given taxable year. The maximum credit is comprised of two equalparts: the first $3,750 credit value is determined based on the critical mineral sourcing of thevehicle’s battery and the second $3,750 credit value is determined based on the sourcing of thebattery components. The credit is limited to incomes of $150,000 for single filers, $225,000 forhead of household filers, and $300,000 for joint filers. The credit is available to vans with aManufacturer’s Suggested Retail Price (MSRP) of $80,000, SUVs with a MSRP of $80,000, pickuptrucks with a MSRP of $80,000, and other vehicles with a MSRP of $55,000. The credit is set toexpire December 31, 2032.
Provision: This provision accelerates the expiration to December 31, 2025. This provision also implements a special rule for taxable year 2026 that only allows vehicles produced by manufacturers that have not sold 200,000 new clean vehicles as of December 31, 2025, to qualify for the credit.
Canada's federal rebate program ended, (although some Provinces still have rebates in place).
- The federal program, which offered rebates of up to $5,000 for the purchase of eligible EVs, is paused as of January 12, 2025.
- The program was paused due to high demand and the depletion of allocated funds.
- There are no current plans for the program to be reinstated.
