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GM, Ford, Toyota, Stellantis CEOs want EV tax credit cap lifted

For just over a decade now, the U.S. has had a federal tax credit worth up to $7,500 for buyers of electric cars and plug-in hybrids. The catch has been that, once 200,000 of them were claimed for a manufacturer, that credit would be phased out. Now, automakers are asking for this cap to be lifted across the board, specifically General Motors, Ford, Toyota and Stellantis. The request comes in the form of a joint letter to Congress (which you can read here), signed by the CEOs of each company. And the ask really is as simple as that. The automakers would like the cap lifted for all EV manufacturers, and instead have a sunset date for the tax credit put in place. Broadly speaking, they want it lifted because of concerns about rising costs from materials and supply chain issues, which can lead to higher prices and could discourage buyers from getting an EV. It would also put automakers back on an even playing field. GM reached its tax credit cap a few years ago, meaning that none of its EVs are eligible for the tax credit. So while it reaped the benefits early on, it now has something of a disadvantage to competitors with credits remaining, such as those that signed on to this letter. GM wouldn't be the only beneficiary. Tesla ran out of credits years ago, too. Nissan still has credits, but likely not for much longer, as InsideEVs reports around 190,000 Leafs have been sold in the U.S. as of April. So it will probably face a phase-out soon, just as the anticipated, and more expensive, Ariya is heading to market. Making this change would also seem like a good choice for continuing to stimulate EV sales, if that's what the government is looking to do. While EVs are now reaching parity in practicality and performance with gas-powered cars, having an additional financial incentive will surely keep them looking more attractive. And automakers can push EVs without fear of running out of credits early. Certainly some sorts of changes to the EV tax credit are likely. There are bills in the works focusing on cap changes as well as the amount of money available, and which vehicles are eligible. Credits up to $12,500 have been proposed, plus possible credits for used EV sales and restricting some credits to vehicles of certain price brackets. Of course, any changes will require some cooperation in a deeply divided Congress. Related Video: Government/Legal Green Chevrolet Chrysler Ford Toyota Electric EV tax credit

2022 Detroit Auto Show Editors' Picks

As tends to be the case in this post-ish-pandemic world of auto shows, the North American International Auto Show was a strange one. It was at least mostly indoors and thus not at the mercy of Mother Nature. And unlike that first Chicago Show following the initial pandemic shutdown, this one was all assembled before the media arrived. Even with a much thinner show floor, the Detroit Auto Show still gave us a number of noteworthy reveals. Now, full disclosure, the rules for our Detroit picks were made a little more flexible, since some of these vehicles were revealed a little before the week of the show. But we still focused on vehicles that were making their show debut, and were actually present on the floor. Sadly, that means we had to leave out the Jeep Recon and Wagoneer S electric SUV concepts. Odds are, those would've made it into our list of the top five if they had actually been on display. Now, on to the winners. 2023 Jeep Wrangler Willys 4xe View 18 Photos 5. 2023 Jeep Wrangler Willys 4xe This was an easy one. While there's nothing so remarkable about the Willys that it makes this package a must-buy, it's nice to see another model available with the 4xe powertrain. Just one question, though: Where was the Recon? – Byron Hurd Chevrolet Blazer EV View 7 Photos 4. 2024 Chevy Blazer EV As a fan of the K5 and S-10 Blazer generations, I was a bit bemused when the current-gen crossover came out ... until I drove it and realized how good it actually is. Now that there's a Blazer EV incoming, I feel like I can become a true fan again. And there's a lot for fans to appreciate: FWD, RWD and AWD versions, and even a 557-horsepower SS variant. In a lineup of practical, Ultium-based Chevy utes, it's good to see an attainable product that enthusiasts can get behind — along the lines of Ford with its Mustang Mach-E — while we wait for an electric Corvette. — Senior Editor, Green, John Beltz Snyder 2023 Chrysler 300C View 28 Photos 3. 2023 Chrysler 300C In a poignant press conference with the Spirit of Detroit statue in the background, Chrysler sent its flagship 300 out properly with a 6.4-liter Hemi V8. Stellantis design chief Ralph Gilles articulated the car's successes — its many awards and sterling reviews from its early days — and the cover came off with a veritable 300C hot rod on display. One more time, the 300 is at full strength. To be clear, this isn't the 300S with an available 5.7-liter.

Shelby GT350 Mustang limited to 137 units for 2015 model year

Interest in the 2015 Ford Shelby GT350 and GT350R Mustangs is already at a fever pitch, thanks performance goodies like a flat-plane-crank V8 and MagneRide dampers. Ford is ensuring demand stays stratospheric through at least the first half of the year, too, by keeping production of these muscular coupes very limited. In fact, just 137 of them in total are leaving the factory for the 2015 model year. As a way to commemorate the Shelby Mustang's 50th anniversary as a performance powerhouse, Ford is building just 37 examples of the 2015 GT350R. This is also a way to pay homage to Carroll Shelby. In 1965, the racing genius originally planned to build 35 GT350 production models, plus two prototypes. However, documents indicate only 34 of the ones meant for customers ever left the workshop. Now, he has gotten his wish. There are also 100 examples of the standard 2015 GT350 on the way. Of those, 50 get the Technology Package that includes things like MagneRide, a navigation system with Sync 3, and dual-zone climate control. The other 50 get the Track Package that has added cooling for the engine, transmission and differential, a strut tower brace, and the high-tech, magnetic dampers. Bear in mind, this limited output is only for the 2015 model year, not the calendar year. For the automotive world, 2016 should start in just a few months and allow for even more Shelby Mustangs to hit the streets. Related Video: FORD ANNOUNCES LIMITED RUN FOR 2015 SHELBY GT350; ONLY 37 GT350R MODELS TO BE BUILT Ford to produce limited run of 2015 Shelby® GT350 to commemorate the nameplate's 50th anniversary 2015 Shelby GT350 comes with a unique 2015 VIN – the envy of Shelby enthusiasts everywhere Limited run of 37 Shelby GT350R models to be built in homage to original GT350 competition model of 1965 In recognition of the 50th anniversary of the Shelby GT350, Ford will build a limited run of Shelby GT350 and GT350R Mustangs for 2015. The original Shelby GT350, introduced in 1965, established Mustang's performance credentials on racetracks around the world. The all-new Shelby GT350, featuring the most powerful naturally aspirated Ford production engine ever, re-establishes Mustang as a world-class sports car. Only 100 Shelby GT350 models will feature a 2015 model year designation before production switches over to 2016. Of these, 50 will be equipped with the Technology Package and 50 equipped with the Track Package.