//

Home Industry Electric and Concept Cars Ford predicts the Mustang Mach...

Ford predicts the Mustang Mach-E EV unlikely to be eligible for federal tax credits in January


Electric and Concept Cars

Ford predicts the Mustang Mach-E EV unlikely to be eligible for federal tax credits in January

Ford Motor stated on Wednesday that it is unlikely that the electric Mustang Mach-E cars that are currently on display in dealer showrooms will be eligible for federal tax credits starting in January.

To gradually wean the American EV supply chain away from China, the U.S. Treasury released advice this week outlining new battery sourcing limits that go into effect on January 1. A $3,750 federal tax credit is presently available for the current model Mach-E.

Ford stated that it was still determining whether the F-150 Lighting EV pickup would be eligible for tax credits after January 1. The business refused to elaborate on why it believes the Mach-E will not receive credit. 35,908 Mach-E EVs were sold in the United States by the No. 2 automaker in the first 11 months of this year, a 3.5% increase over the same period the previous year. Ford announced in October that it was reducing certain Mach-E production.

Additionally, Ford announced in October that it was delaying its second battery plant in Kentucky in addition to postponing $12.5 billion in EV investments.

Additionally, Ford announced in October that it was temporarily eliminating one of the three shifts at the Michigan facility that manufactures the F-150 Lightning, citing a number of reasons, including problems with the supply chain.

According to a bulletin obtained by reporters, Ford informed dealers about the tax benefit and stated that the expiration is a great incentive to buy before the end of the year. Reaching out to consumers in your pipeline now can help you clinch the deal and make sure they can get the credit.

Ford also announced to dealers that they would be extending the incentives for sales and leases of the 2023 model F-150 Lightning and Mach-E.


Business News


Recommended News

Latest Magazine