In the market for a new eco-friendly vehicle? Breathe a sigh of relief – the federal tax incentive for electric vehicles isn't totally gone for the Chevy Bolt and other electric options from the American carmaker — yet.
As of Tuesday, Oct. 1, General Motors' tax credit was halved yet again from $3,750 to $1,875. The full federal credit is $7,500 for new electric vehicle purchases. General Motors, which has the Bolt EV and the now-discontinued hybrid plug-in Volt along with Cadillac options, will lose the tax incentive completely after March 2020.
The newest 2020 Chevy Bolt, coming out soon, has a 21-mile range increase from its predecessor, pushing it to a max battery range of 259 miles. Its starting price before tax incentives is $37,495.
As part of the tax deal, carmakers start losing the full $7,500 credit after selling 200,000 electric or partially electric vehicles. GM hit that milestone at the end of last year and has seen the credit slowly halved since.
Tesla hit the 200,000 mark before any other EV company back in mid-2018. That means the clock is ticking on any federal subsidies for Model 3, S, and X vehicles. By the end of the year it'll be gone for Tesla purchases.
SEE ALSO:Tesla's federal tax credit dropped, but other EVs still have the full amountEven if the federal tax credit is dwindling for the top EV brands — after Tesla and GM it's Nissan quickly approaching the 200,000 mark with its electric Leaf — state and local incentive programs are still available in many places.
So don't give up on an EV deal just yet. Plus, if you go ahead and make a purchase, you'll never pay for gasoline again with an all-electric option, which will end up saving you money in the long run.
TopicsTesla
(责任编辑：時尚)
The U.S. will no longer have the final say on internet domain namesA new Alexa jamming device for people who don't own a hammerThe 'Avengers' game beta raises many concerns for the full release'Tenet' reviews are in. Here's what the critics are saying.This 'sh*tpost' bot makes terrible memes so you don't have toOne of the first Apple computers ever made is currently up for auction.A rare "Celebration" Apple-1
...[详细]
Facebook's Messenger Rooms, a group chat feature that allows you to connect up to 50 people in a vid
...[详细]8 questions to ask about online learning platforms for kids
As a new school year begins that’s virtual for many students, parents are juggling an unpreced
...[详细]LEGO has revealed its Super Mario launch lineup
On Tuesday, LEGO finally revealed the full LEGO Super Mario launch lineup, its first collaboration w
...[详细]Tourist survives for month in frozen New Zealand wilderness after partner dies
A tourist from the Czech Republic, whose partner fell to his death, survived a harrowing month in th
...[详细]'Insecure' continues a tradition of excellence in Season 4
Some shows take time to improve, but the best of the best are born into this world flexing their bri
...[详细]Everything coming to Netflix in August 2020
Netflix is back with a collection of new content for August.Original series debuting this month incl
...[详细]That didn't take long. The U.S. House Judiciary Committee hearing featuring top executives from Amaz
...[详细]Donald Trump's tangled web of Russian influence
Donald Trump has had ties to Russia for decades, but they've thickened as his campaign for the White
...[详细]'Time' magazine cover spotlights black people who died because of systemic racism
In the last two weeks, following the death of George Floyd, a 46-year-old black man who died after a
...[详细]Cat gets stuck in the most awkward position ever
10 things to know before you buy refurbished electronics