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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.

Ram and Alfa Romeo top J.D. Power study of best automaker websites

Imagining a new car can be terrific fun, especially if the new car is an Alfa Romeo. So say the fantasy engineers at the J.D. Power agency, who’ve found that Alfa and Ram, sister brands under the Stellantis umbrella, offer potential buyers the most attractive consumer websites, which are often their first viable encounter with those vehicles. Power found that those marques lead the mass market and premium categories in its twice annual Manufacturer Website Evaluation Study. In the premium segment, Alfa Romeo led with 755 points, up six points over BMW, 10 points ahead of Infiniti, 14 points past of Jaguar, and 18 points up on Porsche. By contrast, Volvo and Audi trail the pack with 689 points, and are behind Genesis (699 points), Tesla (720), and Cadillac (721), all of which perform worse than the premium segment average of 724 points. The summerÂ’s study showed that in the mass market segment, Ram leads with an impressive 735 points, which puts it six points ahead of GMC, seven points atop its stablemate Jeep, eight points beyond Subaru, and 22 points ahead of the industry average. Volkswagen finished dead last among mass market names, but only one point behind Ford, 684 to 683 out of a possible 1,000. Segment average, as noted, was 713 points. “Website satisfaction can be volatile, and automotive websites are not immune to changing preferences,” said Jon Sundberg, director of digital solutions at J.D. Power. “However, manufacturers have shown to be very agile when it comes to website design and ensuring their sites meet modern standards, more so than many other industries, as exemplified through the study data.” Marketing/Advertising Alfa Romeo Audi BMW Ford Volkswagen

Wagons make a bit of a comeback, with new models, sales on the rise

Consider this an official invitation to hop on the wagon bandwagon. There's still tons of room because, well, it's a wagon (and market share is still extremely small). But according to new data, the segment is growing. According to a report from Bloomberg, using data from Edmunds.com, roughly 211,600 Americans purchased wagons in 2018. That is technically down from the 237,600 sold in 2017, but wagon sales in the U.S. are up 29 percent from where they were five years ago. It's also the third year in a row that wagon sales broke the 200,000 mark. The sales trends have been somewhat representative of the availability of wagons. New models have debuted during the past 5 years and therefore offer more opportunity at more brands to buy wagons. In addition to more modest cars such as the Volkswagen Golf Sportwagen, several luxury and performance brands are offering wagons today, such as Mercedes-Benz, Audi, Porsche, Jaguar, Volvo and Buick. (Bloomberg's headlines make the point that "crossovers are for the Kardashians," and wagons are just, well, classier.) This uptick in brand-name availability, as well as extremely well-executed design on most of the wagons currently available, has helped increase the segment's desirability. That, and its ability to better accomplish the same tasks at hand while standing out from the crossover and SUV crowd. Still, the posted numbers represent a small fraction of the total vehicles sold. According to the data, wagons only held a 1.4 percent market share in 2017, the segment's best recent year. Wagons hold a steadfast place in America's past, and they're writing an interesting new story. With the downturn in traditional cars, they may continue to create an unexpected narrative. Related Video: News Source: Bloomberg, Edmunds Audi BMW Buick Volkswagen Volvo Wagon station wagon