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Electric Vehicle Program Associate
As spring 2024 unfolds, we have some good news: more vehicle models are now eligible for the federal tax credit than when the list changed on January 1. The U.S. Department of Energy recently released a new list of EVs that receive between $3,750 and $7,500 in federal tax credit. And with the updates in the IRS guidelines for 2024, this credit can now be taken at point of sale, so the savings are instantaneous at IRS-registered dealerships.
In this blog, we delve into the distinctive features of dedicated used EV dealerships, shedding light on their crucial role in shaping the future of the automotive market. Green Wave Electric Vehicles and EcoAuto stand out as trailblazers in this shift towards a greener future: both dealerships are unique in that they only sell used EVs.
The electric car market is always evolving. Our Car Corner quarterly blog is the Drive Green Team’s way of providing you with the latest insights, trends, and updates! We are committed to delivering a thorough update to keep our readers well-informed and empowered with the necessary knowledge to secure the best deal on the perfect car.
The transition to electric vehicles (EVs) is a central pillar of the Biden administration’s commitment to reducing carbon emissions and combating climate change; and the federal Clean Vehicle Tax Credit is a key part of the administration’s approach. In 2024, that incentive changes in two ways: it becomes available at the point-of-sale and new battery provisions kick in that will likely reduce the number of eligible vehicle models.
The electric car market is evolving rapidly, which offers a mix of excitement and frustration for both enthusiasts and curious customers. The Drive Green team is deeply entrenched in the day-to-day development of the car market, and we’re here to provide you with a comprehensive update in our new quarterly blog series called Car Corner. While the electric vehicle (EV) market has certainly improved since the peak of the COVID-19 pandemic, it’s important to understand that issues with lead times still exist, from supply-chain issues to manufacturing delays. Car Corner will be a valuable resource to consumers, where we’ll navigate through the maze of misleading information and share important updates on the market, new EVs to look out for, shifts in state rebates, and some insider tips from dealerships.
The electric vehicle revolution is well underway, promising a greener, more sustainable future for the automotive industry. However, despite the growing popularity of electric vehicles (EVs), several significant hurdles are obstructing their widespread adoption. At the forefront of these challenges are supply chain issues, particularly concerning critical components like batteries. Among the most pressing concerns is the heavy reliance on rare and essential minerals, including lithium, cobalt, and nickel, which are indispensable for battery cathodes. We’ve written before about the human rights and environmental issues with mineral mining, and that’s something we’re continuing to learn about. This blog post is more focused on the economic side. Though the supply chain for these vital materials is far from stable, and the necessary infrastructure is not yet fully developed, the last year has seen some significant progress – particularly thanks to the Inflation Reduction Act.
