1967 Galaxie 500xl Convertible 390cu Yellow With A Black Top on 2040-cars

Auto blog

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

MotorWeek finds nice things to say about the 1993 Ford Probe

This latest in MotorWeek's series of Retro Reviews continues its recent trend of remembering the massive glut of sports coupes that hit the market in the '90s. While vehicles like the Mitsubishi 3000GT, Mazda RX-7, and Ford Mustang all enjoy solid reputations down to this day, the 1993 Ford Probe, well... doesn't. As you'll soon see, though, the show's opinion suggests the coupe's second generation isn't really all that bad. Turns out they just weren't particularly sporty. Ford and Mazda developed the Probe together, and the Japanese company supplied both the base 115-horsepower 2.0-liter four-cylinder and the 164-hp 2.5-liter V6 in the GT trim. The original's pseudo-angular look gave way to a much smoother shape for the second generation. Of course, pop-up headlights remained, which were a design hallmark for many of this era's sports coupes. After driving it, MotorWeek proclaims the Probe is "a winner" and considers the handling a "delight." That's not a big surprise, considering that in those days, a car had to be really bad not to get a decent review from Television's Original Automotive Magazine. However, the show hints at some of the reasons the coupe isn't so well remembered today. Even the GT reportedly suffers from soft springs and lots of understeer, which sounds like exactly the opposite anyone hoping to drive the coupe enthusiastically would want. To sum it all up, we're sure you're just as happy as we are that Ford went back on its initial plan to shelve the Mustang in favor of the front-drive Probe. Related Video:

Ford to ramp up Lincoln rollout in China in bid to catch rivals

DETROIT/BEIJING — Ford Motor Co's premium Lincoln brand plans to build as many as five new vehicles in China by 2022, according to two U.S. sources, in a move to expand sales in the world's largest vehicle market that would also blunt the impact of trade U.S.-China trade spats. Ford has said it plans to build an all-new sport utility vehicle in China by the end of 2019, however the company has not detailed future production plans for the Lincoln brand in China beyond that. "Our localization plans to support the China market are on track and will serve to further drive Lincoln's growth in China," Lincoln spokeswoman Angie Kozleski said. "Beyond that, it would be premature to discuss our future product and production plans or timing." Sources familiar with Ford's production plans told Reuters the automaker now expects to begin building the new Lincoln Aviator in China in late 2019 or early 2020, along with replacements for the MKC compact crossover and the MKZ midsize sedan, followed in 2021 by the all-new Nautilus, which replaces the Lincoln MKX crossover. A fifth model, a small coupe-like crossover, is tentatively slated for production in China in 2022, the sources said. Ford has much to lose if the war of words over trade between China and U.S. President Donald Trump escalates into a full-blown tariff war. Last year, it shipped about 80,000 vehicles to China from North America, more than half of them Lincolns to support the brand's growth. All Lincoln vehicles that Ford now sells in China are brought in from North America. Even if China does reduce its 25 percent tariff on imported vehicles - as Chinese President Xi Jinping promised on Tuesday - it is not clear that would mean a big, long-term increase in Fords and Lincolns made in U.S. factories heading to Chinese showrooms. Ford is pursuing long-range plans to build more vehicles in China to serve a market that is now roughly 60 percent larger than the U.S. market, and projected to keep growing. But it is playing catch up to hometown rival General Motors Co and German luxury brands including Audi, BMW and Mercedes-Benz, which have invested heavily in Chinese production in recent years as a form of insurance against trade, political and currency gyrations and to lower price points for their premium cars.