2014 Jeep Patriot Sport on 2040-cars

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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.

Trucks with the best gas mileage for 2024

There's no denying that pickup trucks are an integral part of our culture. They've been instrumental in building our infrastructure and giving the public access to remote locations and myriad recreation activities. Trucks aren't known for being particularly fuel efficient though, with boxy silhouettes and considerable weight negatively affecting their gas mileage ratings. The times are changing and not only are trucks getting more economical, but there are also several new smaller alternatives. An efficient tuck doesn't have to by tiny, though. Some of the trucks with the best gas mileage look classically bulky. What is the most fuel-efficient truck? So what's the most fuel-efficient pickup truck on sale in the U.S? It depends on which class of trucks you're looking at. For this list, we're focusing only on internal-combustion trucks. The small crop of all-electric trucks are certainly worth considering, but it's not so easy comparing EVs to ICE trucks here. In most cases, these trucks are the two-wheel-drive versions since they return the best mileage, but there are a few four- or all-wheel-drive models that we call out.  Not surprisingly, the revival of the compact pickup has altered the truck landscape. In many cases, these petite trucks may be just the right size for many shoppers. That's great because most owners would rather not lug around a ton of weight that they don't necessarily need. The simplest answer to the question posed above is the Ford Maverick Hybrid. It tops this list of fuel-efficient truckswith an impressive 37-mpg EPA estimate for combined city and highway miles. With only 191 horsepower and a continuously variable transmission, it's not as capable off-road or for towing as other trucks, but if you just need something to haul stuff around, you really can't do any better. Its 4.5-foot bed has a slight advantage over its only rival, the Hyundai Santa Cruz, which has a 4-foot bed and an estimate of 23 mpg. So now we know what truck uses the least amount of gas. 2024 Ford Maverick 2.5-liter hybrid powertrain 37 mpg combined (EPA estimate) What is the most fuel-efficient midsize truck? While not as popular as their full-size siblings, midsize strike a good balance of utility and drivability. They’re easier to navigate in a crowded parking lot, and fit down more trails earning a set of Arizona pinstripes.

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.