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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.

2017 North American Car, Truck, and Utility Vehicle of the Year finalists revealed

The finalists for the 2017 North American Car, Truck, and Utility Vehicle of the Year were announced Tuesday at AutoMobility LA ahead of the 2016 LA Auto Show. Approximately 60 judges, including Autoblog's editor-in-chief Mike Austin, evaluated over 40 vehicles and named three models as the finalists in each category. The award for the Utility Vehicle of the Year is new for 2017 and separates SUVs, crossovers, and minivans from pickup trucks. The finalists are: Car of the Year: Chevrolet Bolt Genesis G90 Volvo S90 Truck of the Year: Ford F-Series Super Duty Honda Ridgeline Nissan Titan Utility Vehicle of the Year Chrysler Pacifica Jaguar F-Pace Mazda CX-9 The winners for the 24th annual NACTOY awards will be named on January 9 at the Detroit Auto Show. Related Video: Chevrolet Chrysler Ford Honda Jaguar Mazda Nissan Truck Crossover Minivan/Van SUV Electric Luxury Sedan north american car of the year NACTOY

GM recalls 330,000 fullsize trucks for airbag replacement

General Motors has announced a recall of 330,198 fullsize pickups in the US in the aftermath of the announcement made on May 19 that doubled the number of vehicles being called in to replace Takata's defective airbag inflators. That announcement expanded the nationwide recall to an estimated 33.8 million vehicles in the US. Heavy Duty versions of the 2007 and 2008 Chevrolet Silverado and GMC Sierra are included in GM's move, for the purpose of replacing the passenger airbag inflators. The announcement made by the National Highway Traffic Safety Association cited long-term exposure to moisture as a possible cause of the inflator issues. GM says it isn't aware of any problems with the recalled pickups due to moisture, nor has it had any reports of crashes, injuries, or fatalities, and has not received any complaints. GM will notify owners, who can then take their trucks to the dealers to have them repaired free of charge. You'll find a statement from GM and the recall notice from NHTSA below. Related Video: General Motors Statement General Motors is recalling 330,198 2007 and 2008 model year full-size Chevrolet Silverado heavy duty and GMC Sierra heavy duty pickup trucks in the U.S. to replace the passenger air bag inflators manufactured by TK Holdings Inc. (Takata). This recall implements Takata's air bag inflator equipment recall announced on May 19, 2015 (NHTSA recall number 15E-041). GM is not aware of any humidity-related ruptures in Takata air bag inflators in any GM-badged vehicles in the field and knows of no crashes, injuries, fatalities or complaints regarding air bag performance in these vehicles. Including Canada and exports, the total number of vehicles being recalled is 374,715. Population breakdown: United States 330,198 Canada 39,630 Exports 4,887 Total 374,715NHTSA RECALL NOTICE: Report Receipt Date: MAY 28, 2015 NHTSA Campaign Number: 15V324000 Component(s): AIR BAGS Potential Number of Units Affected: 330,198 Manufacturer: General Motors LLCSUMMARY: General Motors LLC (GM) is recalling certain model year 2007-2008 Chevrolet Silverado 2500HD and 3500HD trucks manufactured November 28, 2006, to August 29, 2008, and 2007-2008 GMC Sierra 2500HD and 3500HD trucks manufactured November 27, 2006, to August 29, 2008.