A consumer not doing their homework is like jumping into a pool without knowing the depth of the water."įor 2023, the following vehicles are eligible for the full $7,500 credit under 2023 manufacturer's suggested retail price (MSRP) rules:Īdditionally, BrightDrop and Chevrolet Silverado EV fleet customers can benefit from the $7,500 commercial incentive. That's much more calculus than consumers are accustomed to – or may want to work though. For any eligible customers who take delivery of a Ford EV prior to April 18, the eligibility amount will be 7,500. For reference, the 2020 Ford Escape Plug-in Hybrid originally had a starting sticker price of 34,285, with the. Lincoln Aviator Grand Touring: 7,500 credit. ![]() Lincoln Corsair Grand Touring: 3,750 credit. See how much you could get back buying a new EV or plug-in hybrid. Ford Escape Plug-In Hybrid: 3,750 credit. "Each brand will have to work even harder to educate consumers on not only the up-front cost of each vehicle, but the total cost of ownership difference to alternatives. The cars below are 2021 models except where specified. "The tax credit eligibility changes on certain vehicles will most likely confuse consumers further in the short term," Tony Salerno, vice president at J.D. Kia, Nissan and Hyundai models also no longer qualify. The cheapest PHEV on this list is the 2021 Ford Escape Plug-in Hybrid. The Toyota Prius Plug-in Hybrid, released in January 2012, is eligible for a US2,500 tax credit due to its smaller battery capacity of 5.2 kWh. Audi, BMW, Genesis, Rivian, Volkswagen, and Volvo all lose their federal incentives as part of the new rules. Available Tax Credit: 7,500 2021 Ford Escape Plug-in Hybrid: Electric Range 37 Miles. ![]() ![]() Luxury and premium brands are especially hard hit by the changes.
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