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USA Today
22-07-2025
- Automotive
- USA Today
Buying an electric car or truck? What to know before tax credits expire Sept. 30
A brand new, out-of-the-blue Sept. 30 deadline to buy an EV could be easy to miss, given all the quirky details packed into the nearly 900-page mega tax bill. But automakers aren't about to let that happen. An email sent by Telsa says: "Order soon to get your $7,500." "You can get $7,500 off a qualifying Tesla vehicle at delivery with the federal tax credit, which will now expire on September 30, 2025," the email stated. You must take delivery on or before Sept. 30 to be eligible. Sales of electric cars and trucks, including plug-in hybrids, could be scorching hot at the end of summer, according to industry analysts, as buyers hear more promotions about why they absolutely must lock in lucrative clean vehicle tax credits that expire under what has been called the 'one, big, beautiful bill.' A lucrative loophole on leasing EVs ends Sept. 30, too. A clean vehicle tax credit that's up to $4,000 for eligible used electric vehicles also expires Sept. 30. Don't kid yourself. Not every tax filer will qualify for the credit when buying a clean vehicle. The make and model and the MSRP matter. So does your income. The credits do not apply to every package offered on some electric car or truck or plug-in hybrid models. The availability of the credit for those who buy will depend on several factors, including the vehicle's MSRP, its final assembly location, the sourcing of the critical minerals and components in the battery, and your modified adjusted gross income. Included in the footnotes for the Tesla email: "Consult a tax professional. Not all buyers, vehicles or financing options will qualify. Terms and conditions apply." What vehicles qualify for the EV tax credit? Check out the details at to search for eligible vehicles. Independent websites, such as Edmunds, also list cars and trucks that are eligible for the federal EV tax credit. Some 2025 vehicles that could qualify for a $7,500 credit when you're buying the vehicle, according to the list, are: the Ford F-150 Lightning Flash Trim, as well as Lariat and XLT trims; the 2025 Jeep Wagoneer S; the 2025 Tesla Cybertruck dual motor, long range and single motor; various models of the 2025 Tesla Model 3, Model X and Model Y; the Cadillac Lyriq and Optic; the Chevy Blazer EV, the Chevy Equinox EV and the Chevy Silverado EV. Among these models, though, you're limited to a vehicle with an MSRP of $80,000. Ask the dealer whether the specific car or truck you're buying qualifies. Not every version of a model listed on the website qualifies. For a consumer to qualify for a clean vehicle credit, the manufacturer suggested retail price can't exceed $80,000 for vans, sport utility vehicles and pickup trucks. It cannot exceed $55,000 for other vehicles. What are the income limits for an EV tax credit? Higher income households won't qualify for the credit when buying an EV. Your modified adjusted gross income may not exceed $300,000 for married couples filing jointly; $225,000 for heads of households; and $150,000 for all other filers. You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less, according to the Internal Revenue Service. If your modified AGI is below the threshold in one of the two years, you can claim the credit. The EV or plug-in hybrid must be bought for your own use, not for resale. You must use it primarily in the United States. Buying a car in 2025: Trump's 'Big, Beautiful Bill' would kill tax incentive that's powered EV sales. What to know Why many drivers are opting to lease EVs The bulk of EVs these days are leased — and for good reason when it comes to the complicated tax credit. A loophole in the tax credit, which was part of the Inflation Reduction Act of 2022, gave dealers an edge for promoting attractive leases for new EVs and plug-in hybrids, especially as many new clean vehicles were introduced. The driver cannot claim the clean vehicle tax credit in this case but can likely benefit from a better lease deal. It's one way many are finding lower monthly payments for higher priced vehicles, too. Leased electric vehicles are classified as "commercial vehicles," which means that they're eligible for the full federal clean vehicle credit without meeting strict battery and sourcing requirements. So, you might be able to lease an EV that wouldn't qualify for any credit at all if you bought it. In these cases, the tax credit belongs to the leasing company, often the automaker's captive finance arm. Some or all of that savings could be passed along to the buyer through a well-positioned lease deal. Stephanie Valdez Streaty, director of industry insights at Cox Automotive, told the Detroit Free Press — part of the USA TODAY Network — that dealers are likely to feature attractive lease deals in the next two and a half months before the Sept. 30 deadline hits, which puts an end to the leasing loophole. She noted that only about 20 electric and plug-in hybrid models are eligible for the clean vehicle credit of up to $7,500 for consumers. Thanks to the EV leasing loophole, she explained, virtually any EV — regardless of price or country of origin — can qualify for the commercial clean vehicle tax credit, making it far more accessible than the consumer EV credit. The consumer who opts to lease the EV doesn't have to worry about any income limits affecting whether you qualify for the clean vehicle credit, she noted. And the leasing loophole gets around MSRP requirements or where batteries are produced or components are sourced. In April, 60% of all new EV transactions were lease deals, according to Cox Automotive data. Ivan Drury, director of insights at Edmunds, said almost all offers involving leasing are going to be the most favorable deals, given that they allow for more vehicles to benefit from tax breaks regardless of assembly location or battery sourcing requirements. Automakers and dealers already are having trouble moving EVs off the lot now, Drury said. "EVs went from some of the hottest products on the market back in 2022 to sitting on the lot for months on end, and it has been this way for nearly two years," Drury said. Selling EVs could get even tougher once the clean vehicle tax credit disappears. "Any reduction in incentives could lead to further issues once the tax credit deadline approaches, especially since many automakers have incentives stacked on top of the tax credit — with the tax credit doing most of the heavy lifting," Drury said. In case you missed it: IRS fixes EV tax credit glitch for 2024 as dealerships tackle portal problems It is hard to say what happens beginning in October. Will automakers move so many EVs off lots by Sept. 30 that they no longer need to offer super-deep discounts? Or will brands with bloated EV inventories now still need to offer really good deals to unload metal in the fall? Drury said in some cases it might be possible to see current inventories reduced to a more manageable volume, especially as 2026 model year planning and forecasting will take into account reduced sales. "This could easily make the next few months one of the best and last times to score a deal on an EV," Drury said. Valdez Streaty, at Cox Automotive, expects solid growth in EV sales in the third quarter, as buyers act ahead of the Sept. 30 deadline for the expiring tax credit. Not surprisingly, she predicts that EV sales then will drop off in the fourth quarter, as the electric vehicle market adjusts to a new reality where buyers no longer receive federal tax breaks. Some states, like Colorado, currently offer tax breaks for EV purchases. But even Colorado's smaller tax break is set to be reduced as of Jan. 1, 2026. EV sales in the second quarter were down 6.3% year over year, according to a report issued July 14 by the Cox Automotive Kelley Blue Book team. Some of that decline is attributed to some buyers who rushed ahead to buy in the first quarter, as many anticipated that President Donald Trump would ultimately put end to EV tax credits for consumers. During the second quarter, consumers bought 310,839 new EVs in the United States, down from 331,853 in the same period in 2024, according to the well-known provider of information about the value of new and used cars. Total EV sales through the first half of 2025 set a record at 607,089, up 1.5% year-over-year, according to Cox Automotive Kelley Blue Book. Right now, buyers are looking at healthy inventories for EVs and strong sales incentives, according to experts. Ford Motor Co., for example, has extended a program called the "Ford Power Promise" that offers a free home charger and complimentary standard installation until Sept. 30. The offer applies to the purchase or lease of a new Ford F-150 Lightning, Mustang Mach-E or E-Transit Cargo Van. One doesn't have to look far to find some sort of deal on EVs. "Manufacturers and dealers are using this opportunity to create a sense of urgency to buy now while this (tax) incentive is still in place," Valdez Streaty said. Overall, sales incentives on EVs in the second quarter were more than 10% of the average transaction price. In June, average EV incentives from manufacturers reached an all-time high of 14.8% of average transaction prices, hitting nearly $8,500, according to Kelley Blue Book. These incentives are in addition to any available tax credit. In June, the average transaction price was $56,910 for a new EV, according to Kelley Blue Book. Todd Szott, whose family owns dealerships in Michigan, said more buyers are getting motivated to shop for EVs by the Sept. 30 deadline. The dealership is promoting several lease deals, including $329 a month for 24 months on a 2025 Dodge Charger R/T and $299 a month for 24 months for a 2024 Wrangler, 4-door Sport 4xe. The dealership is also promoting a $399 a month lease for 36 months on a 2025 Ford Mustang Mach-E. All lease deals are plus sales tax and state fees, and the first payment is due at signing. Almost all the dealership's customers lease electric vehicles or plug-in hybrid electric vehicles, Szott said. "The federal tax credit goes to the leasing company and is passed on to the customer in the form of a great lease deal," Szott said. He noted that more makes and models qualify for the federal tax credit through leasing because the qualifications to get the credit through leasing are less stringent. Many drivers also benefit from leasing, he said, because EV and PHEV technology will improve and change in three years, so leasing for about three years makes sense. He sells Ford, Chrysler, Jeep, Dodge, Ram and Toyota vehicles through Szott Auto Group in White Lake, Highland Township, Holly, Waterford and New Hudson. Some tips for car shopping now If you're tempted to buy or lease to beat the Sept. 30 deadline, experts say do your research and figure out your options now. If you plan to buy, talk to your bank or credit union and see what kind of interest rate on a car loan you'd qualify to get. Pushing anything to the last minute can cause processing errors, warns Mike Mader, Baker Tilly's dealership industry practice leader. And paperwork is key if you're buying an EV and expecting a tax credit. Remember, you cannot claim a federal income tax credit on your tax return if you lease the EV. Don't think things will just magically work out at tax time. Some taxpayers faced enormous headaches this year when dealing with the credit on their 2024 tax returns filed this year. The federal government notes that Clean Vehicle Tax Credits must be initiated and approved at the time of sale. Buyers should obtain a copy of the confirmation from the Internal Revenue Service that a 'time-of-sale' report was submitted successfully by the dealer. The IRS has an online portal for dealers to submit time of sale reports for EVs sold. Dealers must submit time-of-sale reports within a three-day period. The National Automobile Dealers Association told the Detroit Free Press that some earlier tax glitches have been worked out. 'NADA worked with the IRS to resolve the systemic issues with the portal earlier this year and those fixes have remained successful,' according to NADA spokesperson Amy Wright. 'Anecdotally, some dealers have reported an occasional, individual problem, but that should not deter consumers from purchasing an EV. There is no reason to believe there will be upcoming problems.' Many dealers, Wright said, offer the $7,500 credit at the time of purchase and that will remain unchanged until Sept. 30. The buyer can choose to take the credit upfront or claim it later on their tax return. You need the proper paperwork in either case. While a bit more than two months isn't a long lead time, the NADA said it was able to help secure a longer phaseout of the tax incentive through Sept. 30 instead of seeing the credit hit a dead stop even earlier. Contact personal finance columnist Susan Tompor: stompor@ Follow her on X @tompor.
Motor 1
15-05-2025
- Automotive
- Motor 1
Stellantis Delays the Electric Ram 1500 and Ramcharger Again
It's been over two years since Ram revealed the 1500 REV. It was supposed to hit dealerships in the United States by late 2024, but Stellantis pushed back the electric truck's launch to 2025. The Ramcharger with its range-extending V-6 broke cover about a year and a half ago and was scheduled to go on sale in late 2024. That didn't happen either, as the launch was postponed to 2025. Now, the two models have been pushed back yet again. You'll have to wait until the first quarter of 2026 to get behind the wheel of the Ramcharger. Stellantis says it needs more time to finalize the product by 'extending the quality validation period' to iron out kinks. As if that wasn't bad enough, the 1500 REV now has an on-sale date of summer 2027. When it does eventually arrive, the purely electric truck will be a 2028MY in the United States. In an email to Crain's Detroit Business , Stellantis spokeswoman Jodi Tinson explained the latest 1500 REV delay as a response to 'slowing consumer demand for half-ton BEV pickups.' The 1500 REV was initially meant to precede the Ramcharger, but the rollout order was reversed last year. By the time the electric truck reaches customers, more than four years will have passed since its debut in February 2023. The Ramcharger , which premiered in November 2023, is now expected to launch in Q1 2026, just over two years after its debut, assuming there are no further delays. Both pickups will be built at the Sterling Heights Assembly Plant, where Stellantis is investing $235.5 million to prepare the facility for production. This will be the automaker's first U.S. factory to build a fully electric vehicle. The Dodge Charger Daytona is assembled in Brampton, Ontario; the Jeep Wagoneer S in Toluca, Mexico; and the slow-selling Fiat 500e is imported from Turin, Italy. Catch Up With Ram Trucks: The Ram 1500 Express Is Back, and It's Surprisingly Cheap Hell Yeah: The Ram TRX Could Return Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Crain's Detroit Business Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Yahoo
07-04-2025
- Automotive
- Yahoo
Stellantis Follows Ford's Lead, Starts Offering Employee Pricing Because Of Trump's Tariffs
Stellantis — like many other automakers — is in survival mode right now as President Trump's tariffs wreak havoc on the global supply chain and the U.S. automotive industry. In an effort to boost sales and keep prices somewhat manageable for buyers, the trans-Atlantic company is offering employee discounts to the general public. It's a similar move to what Ford did last week and a worrying sign that the auto industry is on the brink of something catastrophic. Discounts are being implemented across the board on most 2024 and 2025 Chrysler, Jeep, Dodge and Ram models with the exception of of the Ram 1500 RHO and Jeep Wrangler Rubicon 392, according to Automotive News. If you're buying one of those trucks, you probably don't need the extra savings anyway. Right now, there's no word on exactly how deep the discounts will be. Here's what Stellantis told the outlet: "This week we launched aggressive and consistent incentive and marketing support for April, including an exciting and competitive enhancement that will allow our customers 'America's Freedom of Choice' between employee price or current cash incentives," a Stellantis spokesperson said[.] The move follows Trump's brand new 25 percent tariffs on all imported vehicles that started on April 3. Analysts believe this action could end up raising the average new vehicle price by thousands of dollars, AutoNews reports. It also sure looks like this is just the beginning, too. The same 25 percent tariff is set to be lobbied on major components like engines and transmissions starting on May 3. I'm sure that will be its own self-inflicted disaster for the world economy. Read more: These Cars Are Police Magnets Stellantis is being hit particularly hard by these tariffs even though it's technically sort of an American company. It produces a ton of vehicles and parts in Mexico, including the electric Jeep Wagoneer S, the Jeep Compass, Ram Heavy Duty trucks and the Ram ProMaster van. It also builds its twin-turbo Hurricane straight-six motor and its 6.4-liter Hemi V8 in the country. Not to be left out of the fun, Canada also produces some of Stellantis' most key vehicles: the Pacifica minivan (Chrysler's only product) and the immensely important all-electric Charger Daytona. Both of those vehicles are built in Windsor, Ontario. All in all, about 60 percent of the vehicles Stellantis sells in the U.S. are built domestically. That's a hell of a lot less than the 80 percent of vehicles Ford builds here. This all comes just a day after Ford launched a very similar program called From America, For America. It will give any customer access to thousands of dollars in discounts for just about everything Ford makes other than the Expedition, Super Duty pickups and the Lincoln Navigator. To be fair, employee discounts to drum up sales aren't exactly anything new. Ford famously used them in 2009 to get sales up during the... oh God... oh no.... Great Recession. History doesn't always repeat itself, but it certainly rhymes. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
USA Today
21-02-2025
- Automotive
- USA Today
Reviving Jeep: New leadership and fresh lineup set the brand back on track
Alisa Priddle MotorTrend Hear this story It is time to get Jeep back on track. The brand once thought to have a license to print money has been struggling, as has parent Stellantis. But reorganization, more regional autonomy, new personnel, products and a more positive wind blowing through the halls in Auburn Hills are poised to get the storied brand back on the proper path. 'We need to get Jeep back,' said Mike Koval who this week was named head of Jeep sales and operations for the brand globally. Koval was at the 2025 Chicago Auto Show to reveal a new trim level for the 2025 Jeep Wagoneer S, a premium midsize electric SUV. Changes have been afoot since Carlos Tavares resigned as CEO in December. Chairman John Elkann has been acting as interim chief and, with Antonio Filosa in North America, they have worked to restore morale at the automaker. It is working, says Koval, who moved to Jeep from Mopar earlier this week. There has been a positive energy over the past couple months, he says. People are back in the building in Auburn Hills and there is a new energy and vitality. 2025 Jeep lineup:An army-inspired Wrangler, fresh EVs and more Under Filosa, Jeep has stabilized over the last four or five months. And this week more changes were announced. Filosa handed the top Jeep job over to Bob Broderdorf who was leading the brand in North America and now assumes global responsibility. Need a break? Play the USA TODAY Daily Crossword Puzzle. Fixing Jeep Jeep is being restructured to be a single global brand, breaking down regional walls for a more streamlined bureaucracy designed to get everyone on the same page. In case you missed it:Jeep slashes 2025 Grand Cherokee prices '2025 will be our comeback story,' Koval said. The Wagoneer S will be joined later this year by another electric Jeep, the more off-road-oriented Jeep Recon. And the big surge is expected to come from the successor to the Jeep Cherokee which will fill a gaping hole in the lineup with no product in the largest segment. Koval would not say if the new model will continue to use the Cherokee name. Jeep will be at 24 auto shows this year compared with three in 2024, as well as other events, Koval said. The company is also paying close attention to tariffs the U.S. is placing on imports from China and threatening to slap on goods from Canada and Mexico. Stellantis has contingency plans in place, but the automaker has two plants in Canada and two in Mexico, including the one that makes the Jeep Wagoneer S that showed its Limited trim model at the Chicago auto show. The Wagoneer S debuted with a Launch Edition offered for the 2024 and 2025 model years, followed by the 2025 Limited trim. Koval would not say how many trim levels will be offered ultimately but a good guess is a Trailhawk version since Jeep has already shown us a concept. 'Jeep is synonymous with core values of America and fun and adventure,' Koval says. It needs to get back to its core and reconnect with buyers. 'I think we have a lot more freedom and latitude to get back to who we are.'
Yahoo
06-02-2025
- Automotive
- Yahoo
All-new, All-electric 2025 Jeep® Wagoneer S Limited: Well-equipped, Competitively Priced and Now Open for Orders
AUBURN HILLS, Mich., Feb. 6, 2025 /PRNewswire/ -- New 2025 Jeep® Wagoneer S Limited pairs capability, class and comfort with available best-in-class usable screen space of more than 45 inches, over 170 standard safety and security features and brand-exclusive Selec-Terrain traction management system Limited trim introduces new Hydro Blue exterior color, Arctic Grey interior color Wagoneer S Limited available to order online with a starting U.S. MSRP of $66,995 (including $1,795 destination) Hot on the heels of electrifying customers with the arrival of the midsize, all-electric Jeep® Wagoneer S, the Jeep brand is charging ahead with the introduction of the 2025 model-year lineup, with the new Limited trim joining the Launch Edition. "The Jeep Wagoneer S signifies our reentry into the premium midsize market, delivering an unparalleled blend of style, performance and capability that our customers desire for their daily commutes," said Bob Broderdorf, chief executive officer, Jeep brand. "The new Limited model, starting at an appealing price of $66,995, further enhances its attractiveness, making it a top choice for those seeking the best in electric SUVs." The new 2025 Jeep Wagoneer S Limited includes: A distinguishable black roof and mirror caps, low-profile exterior badging, 20-inch machined aluminum wheels, dual-pane panoramic sunroof and 10-way heated front seats Maximum usable screen space of more than 45 inches, best-in-class among EVs More than 170 standard safety and security features, including Drowsy Driver Alert Optional segment-exclusive front passenger screen, 920-watt McIntosh audio system, over-the-air Propulsion Boost Package (producing 600 horsepower; late availability) and Obsidian Appearance Package (late availability) The Limited trim also introduces a new Hydro Blue exterior color and Arctic Grey interior color The all-electric 2025 Jeep Wagoneer S continues to offer a sleek design, aerodynamic efficiency, state-of-the-art technology, 4xe capability and impressive performance credentials. For everyday driving confidence, the Jeep Wagoneer S comes standard with the Jeep brand-exclusive Selec-Terrain traction management system, with five selectable modes (Auto, Sport, Snow, Sand, Eco) for all weather and road conditions. Every Jeep Wagoneer S purchase or lease includes a 48-amp Level 2 home charger or public charging credits of equal value through Free2move Charge – Stellantis' 360-degree charging ecosystem. To make charging quick and easy for customers, the Jeep Wagoneer S carries an efficient 400-volt, 100-kilowatt-hour battery pack that charges the vehicle from 20-80% in 23 minutes (with DC fast charger). The 2025 Jeep Wagoneer S is now available to order online and in Jeep dealerships throughout North America, with a starting U.S. MSRP of $66,995 (including $1,795 destination). The 2025 Wagoneer S qualifies for Inflation Reduction Act lease EV credits ($7,500 for retail and lease purchases). For more information, visit Jeep BrandFor more than 80 years, Jeep has been the global leader in SUVs, delivering legendary off-road capability, advanced technology and exceptional versatility for those who seek adventure. With a commitment to innovation, the Jeep brand offers a diverse lineup of vehicles powered by internal combustion engines, hybrid technology and all-electric drivetrains. The brand's dedication to customer satisfaction is reflected in Jeep Wave, a premium owner loyalty and customer care program that provides exclusive benefits and 24/7 support. Built on a heritage of freedom, adventure, authenticity and passion, Jeep continues to set the standard for rugged yet refined vehicles designed to conquer it all. Follow Jeep and company news and video on:Company blog: website: brand: Instagram: Twitter: or View original content to download multimedia: SOURCE Stellantis
