*Jaguar Land Rover has not yet submitted a list of models to the IRS. *Honda has not yet submitted a list of models to the IRS. General Motors (includes GMC, Chevy, Buick, Cadillac) Model Year Lincoln Corsair Grand Touring (PHEV model) Lincoln Aviator Grand Touring (PHEV model) We’ll be updating this list as the IRS adds more cars to it. We’ve added links where possible so you can search local dealer inventory for the car you’re looking for. Some manufacturers have submitted paperwork to become a “qualified manufacturer” but have not yet submitted a list of eligible vehicles, so their entries will be empty until they submit that information to the IRS. MSRP does not mean the price you paid for the car, but the manufacturer’s suggested price, which will be listed on the window sticker.īelow is the IRS’ list of electric vehicles and plug-in hybrids made by qualified manufacturers, sorted by manufacturer. The IRS updated their guidelines on February 3, qualifying more EVs as SUVs, increasing the credit limit for the Model Y, Mach-E, Lyriq, and ID4. The tax credit is limited to cars under $55K MSRP and under $80K MSRP for trucks and SUVs. So dealerships can still file for tax credits on leased vehicles, and presumably pass this on in the form of lower lease payments. However, the Treasury has suggested that cars assembled outside North America may qualify for the EV tax credit through the commercial vehicle tax credit, assuming those cars are leased not purchased. You can verify your car’s final assembly location by using the VIN decoder at the bottom of this page. The Department of Energy’s Alternative Fuels Data Center maintains a list of vehicles with final assembly in North America. One of those requirements, which went into place on August 16, is that vehicles must be assembled in North America to qualify for EV purchase tax credits.
#Do non plug in hybrid cars get tax credit full
The Inflation Reduction Act focused on expanding availability of tax credits (including allowing plug-in hybrid models to access the full credit), bringing more EV and battery production to the US, and ensuring that credits are not all taken up by luxury cars purchased by members of the upper income brackets.īut the phase-in times of various provisions have created a lot of confusion in the EV community about which vehicles will qualify and when. This post intends to break down the current eligibility requirements for the EV tax credit as they continue to be updated.
The law is still in the process of being implemented, so tax credit qualifications continue to change as the IRS offers further guidance. The Inflation Reduction Act, the major climate bill, was signed August 16, changing the availability of electric vehicle tax credits.
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