The US Treasury Department will provide access to tax credits for the purchase of electric vehicles at the time of purchase starting in January. The Inflation Reduction Act provides credits of up to US$7,500 for new vehicles and up to US$4,000 for used cars.
Starting next year, consumers will be able to choose to transfer credits to a seller.
“This will effectively reduce the purchase price of the vehicle, providing consumers with a discount on their electric vehicle at the point of sale, rather than having to wait to claim the credit on their tax return the following year,” the US Treasury said in a statement. .
Also according to the Treasury, researchers identified that “the overwhelming majority of consumers prefer an immediate discount” at the point of sale.
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