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>EV credit: A 'messy scenario' in showroom?: Dealers fear rules could hurt customer relations: Dealers fear rules could hurt customer relations
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EV credit: A 'messy scenario' in showroom?: Dealers fear rules could hurt customer relations: Dealers fear rules could hurt customer relations
WASHINGTON - With the transition to a new, tougher-to-meet - and "incredibly confusing," as one dealer put it - tax credit for electric vehicles starting last week, some U.S. auto retailers are left scratching their heads as they wait for more guidance from automakers and the federal government. President Joe Biden on Tuesday, Aug. 16, signed the Inflation Reduction Act into law, triggering a shift from the old $7,500 EV tax credit to a new, more complicated one designed to incentivize domestic EV production, reduce reliance on foreign supply chains and prevent wealthy buyers from getting a discount.
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