Treasury: Nearly 9,000 auto dealers have registered for electric vehicle tax credit

The Hill ^ | 01/05/2023 | ZACK BUDRYK

[ChicagoConservative27]

More than 1,000 additional auto dealers have registered for the point-of-sale electric vehicle tax credit since it became available Jan. 1, the Treasury Department confirmed Friday morning.

Treasury officials told reporters that as of Friday, more than 8,700 dealers had registered for the credit, up from the 7,400 announced in late December. Alterations to the credit under the Inflation Reduction Act allow electric vehicle buyers to claim it upon purchase from registered dealers rather than waiting until filing their taxes the following year.

The 7,400 number was itself an increase from the 7,000 dealers announced earlier in December by the Biden administration.

[ChicagoConservative27]

Tax credit = welfare payment

[rbg81]

It won’t seem like such a good deal when EV owners need to spend $30K more for a new battery in 5-8 years.

[Tell It Right]

Also there’s the issue of the tax credit artificially inflating the up front price by $7,000. Like any other industry the government “helps” us with.

[oil_dude]

The dealers have to get the pieces of sh*t off the lot.

[buckalfa]

And what gives Team Biden to alter legislative law? Oh silly me, law does not apply to our betters.

[Svartalfiar]

Why are dealers registering for the tax credit? I thought it only applied to first sale, which would be the customer applying for it, not the dealers..? Or are they buying the cars from themselves just to boost their bottom line for the year?

[Delta 21]

Tax for some. Credit for others.

I think the dealer has to initiate the credit at purchase. Car dealers are into banking and interest rate manipulation. They can and will finance anyone.

EVs, the infrastructure will not support EVs. I hope this becomes an undeniable truth, and sales need to reflect this from day 1. Elon is making thousands a day. I like SpaceX better.