GM Volt Forum banner

1 - 12 of 12 Posts

·
Registered
Joined
·
1 Posts
Discussion Starter #1
Can someone please tell me if the $7500 federal tax credit begins to phase out after either:
1. The manufacturer (GM) has sold 200,000 qualifying units in TOTAL for example Volts, Sparks, Bolts ADDED TOGETHER.
OR
2. 200,000 specific models for example Volts. Or 200,000 Bolts.
Is it by model or by manufacturer?
It matters because I would like to wait until the middle of 2017 to acquire a Bolt but I don't want to miss the 200,000 unit limit. Does anyone know how many Volts have been sold already?
 

·
Registered
Joined
·
5,782 Posts
It's by manufacturer. And no, GM won't run out in 2017. Or 2018.
 

·
Registered
Joined
·
261 Posts
200,000 qualifying vehicles per manufacturer, regardless of model. Once the 200,000th is sold, the full $7500 tax credit continues to be in place for all eligible vehicles from that manufacturer for the remainder of that calendar quarter. The next two quarters, the credit is reduced to $3,750. Then $1875 for two quarters. Then gone.

GM has sold about 100k Volts, and a nominal amount of Spark EV's and ELR's up to this point. I think you'll be fine.
 

·
Registered
Joined
·
1,034 Posts
One thing to keep in mind is that if enough elected officials want to eliminate the tax credit decide to dump the program along with a like minded president it will be history. Lets see, one candidate says they don't believe in climate change. So the possibility exists.

VIN # B0985
 

·
Banned
Joined
·
7,289 Posts
It's by manufacturer. And no, GM won't run out in 2017. Or 2018.
I think the credit for GM has a chance to start sunsetting in 2018 if even modest Volt/Bolt sales projections are met.

About 110k GM EVs have sold to date.
Another 8-10k Volts will probably sell this year
Let's say 1-2k Bolts.
So about 120k by end of 2016.
In 2017, let's say 30k Bolts/25k Volts, so we're at about 175k end of 2017
Q2 2018 is when the 200k barrier should be broken, and fed credit starts sunsetting Q3.
 

·
Registered
Joined
·
5,782 Posts
One thing to keep in mind is that if enough elected officials want to eliminate the tax credit decide to dump the program along with a like minded president it will be history. Lets see, one candidate says they don't believe in climate change. So the possibility exists.

VIN # B0985
The opposite possibility also exists at this point. The 'don't change horses now' candidate could extend the program with sufficient congressional support. Neither candidate is a tea-party-er, so, I think the programs will continue and possibly extended.
 

·
Registered
Joined
·
280 Posts
"The qualified plug-in electric drive motor vehicle credit phases out for a manufacturer’s vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States."

So, if GM sells their 200,000th EV the middle of January, the full credit runs to the end of June.
 

·
Registered
Joined
·
1,034 Posts
The opposite possibility also exists at this point. The 'don't change horses now' candidate could extend the program with sufficient congressional support. Neither candidate is a tea-party-er, so, I think the programs will continue and possibly extended.
Even though it was implemented by 'W', much has changed. The real key to you statement is "with sufficient congressional support".

VIN # B0985
 

·
Registered
Joined
·
6,661 Posts
I get into heated discussions all the time over this, how do you defend a guy able to afford a $100K+ tesla getting that tax credit?

Saying it's "their money" gets lost to the average JOE. Maybe they need to "means test it" going forward.
 

·
Registered
Joined
·
1,107 Posts
I'm just curious about one thing on the tax credit. I'm aware of the manufacturer limit, but does the tax credit also extend to just regular hybrids? I know GM produced some other models that are hybrid as well including Malibu, Tahoe, Yukon and Escalade. Do those count toward the 200K?
 

·
Registered
Joined
·
1,673 Posts
I'm just curious about one thing on the tax credit. I'm aware of the manufacturer limit, but does the tax credit also extend to just regular hybrids? I know GM produced some other models that are hybrid as well including Malibu, Tahoe, Yukon and Escalade. Do those count toward the 200K?
No. Has to 'plug in'. Though I suppose other alternate fuel vehicles (e.g., H2) might also qualify.
 
1 - 12 of 12 Posts
Top