Mustang Mach-E, Cadillac Lyric Among Ford And GM Vehicles Set To Lose EV Tax Credit Starting Next Year
Portfolio Pulse from Anan Ashraf
Ford Motor Co (F) and General Motors Co (GM) will lose EV tax credits on certain vehicles from 2024 due to new U.S. treasury guidelines. GM's Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose the $7,500 federal EV tax credit, while the Chevrolet Bolt EV remains eligible. Ford will lose tax credits for the E-Transit, Mustang Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid. The F-150 Lightning and Lincoln Corsair Grand Touring will retain their credits. Tesla Inc's (TSLA) Model 3 variants will also not be eligible for tax credits starting next year.
December 22, 2023 | 4:59 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ford will lose tax credits for the E-Transit, Mustang Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid, potentially affecting sales and stock price.
The loss of tax credits for key Ford electric vehicles could lead to a decrease in their competitiveness and sales, which may negatively impact Ford's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GM's Cadillac Lyriq and Chevrolet Blazer EV will lose the federal EV tax credit, while the Chevrolet Bolt EV remains eligible, potentially affecting GM's EV sales.
The temporary loss of the EV tax credit for GM's Cadillac Lyriq and Chevrolet Blazer EV could reduce their market appeal and sales, likely causing a negative short-term impact on GM's stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla's Model 3 rear-wheel drive and long-range variants will not be eligible for EV tax credits starting next year, which may influence Tesla's sales and stock.
Ineligibility for tax credits on popular Tesla Model 3 variants could negatively affect Tesla's competitive pricing and sales, potentially impacting the stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70