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EV Sales on the Rise

Electric vehicle (EV) buyers are saving money on more than just gas. Recent data shows that the 18,000 EVs sold last year amounted to $150 million in ...

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|May 7|magazine4 min read

 

Electric vehicle (EV) buyers are saving money on more than just gas. Recent data shows that the 18,000 EVs sold last year amounted to $150 million in federal and state tax credits.

Federal tax credits of up to $7,500 per car were provided, deducted from a taxpayer's bill and returned to them during tax season. The Obama administration has recently proposed increasing the rebate from $7,500 to $10,000 and making the credit available at the point of sale, instead of on a tax return.

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Last year's best selling EV was the Nissan Leaf, with 9,674 sold, followed by the Chevy Volt, with 7,671 sold—the only mainstream manufacturers to offer mass-produced EVs. As far as luxury EVs go, Tesla sold around 300 Roadsters and Fisker sold 79 Karma sedans, at a price tag of around $100,000 each.

In the next year, Nissan hopes to double its sales, while GM hopes to sell 45,000 Volts. Ford will start selling its electric Focus and other car makers will begin leasing prototype EVs to customers for testing. 

 

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