1997 Ford Crown Victoria Lx - 92k Miles - One Owner 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.

Ford picks up new Ranger overseas [w/video+poll]

The new Ford F-150 is lighter and more efficient than the model it replaced, but if it's a smaller Ford pickup that you really wanted, you're going to have to pack your bags. Because while Dearborn stopped selling the Ranger in North America years ago, it still offers one in markets overseas. And it's just rolled out a refreshed model at the 2015 Bangkok Motor Show in Thailand. Following the reveal of the new Everest sport-ute with which it shares its chassis, the refreshed Ranger pickup benefits from revised sheetmetal, powertrain and equipment throughout. The changes are punctuated by a front end with a more rugged-looking grille, a more sculpted hood and projector headlamps. The interior has been updated as well, not only in terms of style but equipment as well, with an eight-inch touchscreen display in the dashboard running Sync 2 and dual TFT displays flanking the speedo in the instrument cluster. Under the hood, buyers will be able to choose between a carryover 2.5-liter inline four with 163 horsepower and 166 pound-feet of torque that's the sole gasoline option or one of two diesel options: a 2.2-liter four now producing 158 hp and 284 lb-ft, or a 3.2-liter inline-five with 197 hp and 347 lb-ft. The diesel engines are more efficient than before with available stop/start engine management, and offer what Ford says is class-leading towing capability. Six-speed automatic or manual gearboxes transmit the power to the road through either the rear wheels or all four. Production will continue in Thailand for the Asia Pacific Market, South Africa for Africa and Europe, and in Argentina for Latin America. All told the new Ranger will be offered in 180 markets, around the world but for better or worse, ours won't be one of them. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford posts record pre-tax Q3 profit of $2.6B

Ford took in $2.6 billion in pre-tax profits in the third quarter of the year, making for a record trio of months that saw the Blue Oval's year-over-year earnings increase by $426 million. The earnings are being attributed not just to improvements in North American sales, but sales around the globe.
Revenue was up 12 percent, to $36 billion, although net income took a hit, dropping $359 million to $1.3 billion. Ford was dinged with $498 million in pre-tax charges, which are being blamed for the drop in net income.
The news has boosted Ford's hopes for full-year results, bumping it's total profits up past $8 billion, according to Automotive News. The Dearborn, MI-based manufacturer is still expecting a loss in Europe, although it's forecasted less than the $1.73 billion it burned in 2012. In fact, according to CFO Bob Shanks, Ford's European losses dropped by 51 percent year-over year, a huge improvement for the brand.