The Morning Shift All your daily car news in one convenient place. Isn’t your time more important? Saying farewell to tax credits for certain electric vehicles in the United States, Carlos Ghosn’s jail time, record EV sales in Norway and payment extensions for people affected by the U.S. government shutdown. All of this and more in The Morning Shift for Thursday, Jan. 3, 2019. 1st Gear: General Motors’ EV Tax Credit Is Reportedly on the Way Out The United States offers $7,500 tax credits to new-car buyers who choose to go electric, but the good times don’t last forever: As we saw with Tesla recently, only the buyers who get in early get to take advantage of the lower prices. Reuters reports that an unnamed source briefed on the matter said this week that General Motors hit the magic number that begins the phase out of the tax credit, which is 200,000 vehicles sold in the country. The person said GM hit the number in the fourth quarter of 2018, meaning the tax credit will drop to $3,750 in April, $1,875 in October, and will be gone by April of 2020. This is one of the few times when it isn’t advantageous to be late to the party. Here’s some more on GM and Tesla’s credits, from Reuters: The tax credit is aimed at defraying the cost of electric vehicles that are more expensive than similarly sized internal combustion engine vehicles. In 2009, Congress set the phase-out threshold at 200,000… [Read full story]
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