Retroactive discounts apply to the Chevrolet Bolt EV and EUV. Toyota likely hit the ceiling for the EV tax credit. Electric trucks could pull off the majority of fleet uses today at a cost advantage. Is the EV market on the verge of collapse over price pressures? This and more, here at Green Car Reports.
Toyota appears to have delivered the 200,000 qualifying vehicles that would trigger a phaseout period for the EV tax credit for Toyota and Lexus. If so, that means the $7,500 tax credit buyers can claim for models like the BZ4X electric car and RAV4 Prime plug-in hybrid will drop to $3,750 on October 1.
GM has issued a retroactive discount for Chevy Bolt EV and EUV models that were bought new in 2022. That includes about $6,000 for buyers of the model-year 2022 Bolt EV or EUV—roughly paralleling the sticker price given to the whole lineup for 2023.
According to a study from the telematics and fleet analytics firm Geotab, looking at real-world data from 91,000 fleet vehicles, about 76% of trucks could be replaced by fully electric pickups, while 45% could go electric at an ownership-cost advantage given today’s generally higher initial cost.
Are EV prices so high they’re not sustainable for the market? Executives throughout the industry appear to be converging over that message, but one took it a step further. If EVs don’t get cheaper, “the market will collapse,” said Stellantis’ chief manufacturing officer last week. Agree?