Hi All: Subaru February 2023 sales are out and the Solterra is not exactly lighting fires... SUBARU OF AMERICA REPORTS FEBRUARY SALES INCREASE of 2.1% Subaru of America reported it sold 45,790 vehicle sales in February 2023, a 2.1 percent increase compared with the 44,866 sold in February of 2022. February also marked the seventh consecutive month of month-over-month sales increases for the automaker. 2023 Subaru Solterra In addition, 347 of the new Solterra BEV were delivered in February. YTD, 846 have been delivered. Wayne
Hi WriConsult: Your entire post rings true even today. With the bZ4X/Solterra not being built in the U.S., no Fed TC. The Ioniq 5/EV6 are also not qualified for the Fed TC. In April when the pack chemistry source is taken into account, I am not sure anyone will qualify. Again. The Ioniq 5s are selling barely 2k units per month but the dealerships have 0 on their lots and are marking them up to stupidity. And a heat pump should be on their entire lineup! Want a Corolla? Still MSRP. Want a 23 Prius? Some dealers are selling at MSRP but my local Toyota dealer wants $8K on top. Screw them! The only thing with just ok discounts are full size trucks but those have a hefty price tag well before the $2,500 rebate. Wayne
Hi All: From the DOE 's Alternative Fuels Data Center website: Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit The Inflation Reduction Act of 2022 (Public Law 117-169) amended the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and added a new requirement for final assembly in North America that took effect on August 17, 2022, with additional requirements taking place beginning January 1, 2023. For vehicles placed in service on or after January 1, 2023, the Clean Vehicle Credit provisions will be subject to updated guidance from the IRS and the U.S. Department of the Treasury. See the IRS Plug-In Electric Drive Vehicle Credit for further details. More details are provided below by date of purchase and on the list of EVs with Final Assembly in North America. For up-to-date information on eligibility requirements for the Clean Vehicle Credit for vehicles acquired beginning January 1, 2023, see the information from the IRS. Vehicles Placed in Service After December 31, 2022 Beginning January 1, 2023, the Clean Vehicle Credit (CVC) provisions remove manufacturer sales caps, expand the scope of eligible vehicles to include both EVs and FCEVs, and require a traction battery that has at least seven kilowatt-hours (kWh). An available tax credit under the CVC may be limited by the vehicle’s MSRP and the buyer’s modified adjusted gross income (see below). The CVC provisions also establish criteria for a vehicle to be considered eligible that involve sourcing requirements for critical mineral extraction, processing, and recycling and battery component manufacturing and assembly; these critical material and battery component provisions begin to apply only after the U.S. Department of the Treasury issues guidance on these particular provisions. Until the Treasury Department issues this critical mineral and battery component guidance, the available CVC tax credit amounts to a base amount of $2500 plus, for a vehicle that draws propulsion energy from a battery with at least 7 kWh of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kWh. The total tax credit available for a vehicle may not exceed $7,500. Once the Treasury Department issues the critical mineral and battery component guidance, vehicles that meet the critical mineral requirements are eligible for $3,750 tax credit, and vehicles that meet the battery component requirements are eligible for a $3,750 tax credit. Vehicles meeting both the critical mineral and the battery component requirements are eligible for a total tax credit of $7,500. Critical Minerals: To be eligible for the $3,750 critical minerals portion of the tax credit, the percentage of the value of the battery’s critical minerals that are extracted or processed in the United States or a U.S. free-trade agreement partner or recycled in North America, must increase according to the following schedule: Year Critical minerals minimum percent value requirement 2023 40% 2024 50% 2025 60% 2026 70% 2027 and later 80% Battery Components: To be eligible for the $3,750 battery components portion of the tax credit, the percentage of the value of the battery’s components that are manufactured or assembled in North America must increase according to the following schedule: Year Battery components minimum percent value requirement 2023 50% 2024 and 2025 60% 2026 70% 2027 80% 2028 90% 2029 and later 100% To be eligible for the CVC tax credit, vans, sport utility vehicles, and pickup trucks must meet the additional requirements of not having a final manufacturer suggested retail price (MSRP) above $80,000, and all other vehicles may not have a final MSRP above $55,000. The final MSRP can be found on the vehicle’s window sticker, which is also known as the “Monroney label”; the final MSRP includes any trim, options, or accessories for the particular vehicle and excludes the destination fee. Additionally, a taxpayer’s eligibility for the tax credit may be limited by thresholds for modified adjusted gross income (MAGI); only individuals having a MAGI below the following thresholds are eligible for the tax credit: $300,000 for joint filers $225,000 for head-of-household filers $150,000 for single filers
Hi All: A dramatic OEM produced advert highlighting the Solterra's features. 2023 Subaru Solterra Wayne
