Tax Credit: Use it or lose it?

In the near future, there’s a very real chance that the Clean Vehicle Credit may end up going away as the new administration moves into the White House. While there are processes that have to be initiated to change the laws, certain aspects are more likely to stay than you may expect. Automakers, for example, are already lobbying to try to defend them. “The Alliance for Automotive Innovation, which represents 42 car companies that produce about 97 percent of new vehicles in the United States, wants to keep consumer tax credits for E.V.s. In a letter to Republican lawmakers who will be writing tax legislation, the organization said the credits were key to maintaining competitiveness.”

"For consumers interested in an EV purchase, strike while the battery is hot," advises Ivan Drury with the automotive research site Edmunds. EVs have been at bargain prices this year, thanks to lower-than-expected demand, but automakers are adjusting. "Now, with production cuts shrinking supply and a fresh wave of demand from those seeking a deal while they still can, it can be all but assured that the price for that EV you've been eyeing is going up in the coming months," he said. (NYT)

Our own John Higham was recently on NPR’s Morning Edition with Camila Domonoske. Check out the audio article.