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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

Weekly Recap: Diesel scandal continues to fuel VW's woes

Volkswagen's woes continued this week when it was delisted from the Dow Jones Sustainability Index and stripped of awards. Senators are also lining up to advocate for criminal and civil action against the automaker, and its consumer reputation is in tatters. Put simply, it's been another rough period for VW. Despite this, the company eked out a sales gain of less than one percent in September, though that was well behind the overall market's performance. Sister brand Audi, which sells a diesel A3, was less affected, posting a 16-percent gain in September. Revelations that Volkswagen rigged millions of diesel-powered cars around the world didn't surface until September 18, so the full sales impact of the ongoing scandal won't likely be felt until October. Meanwhile, VW's image continues to take a beating, and an AutoPacific survey found only one in 14 vehicle owners have a positive opinion of the company. Before the scandal broke, three-quarters of respondents had a positive view of VW. The survey also found 64 percent don't trust Volkswagen, though the same number believe other companies are or may also be using cheating devices to pass emissions tests. "The reputation of diesels has been severely damaged, at least for the short term," Ed Kim, AutoPacific's vice president of industry analysis, said in a statement. Despite the lingering malaise, experts believe VW will recover, just as Toyota and General Motors eventually emerged from their own high-profile controversies. "Consumers have proven through numerous recalls that they are resilient and quickly return to their buying habits," Kim said. OTHER NEWS & NOTES Mazda to reveal sports car concept in Tokyo Mazda will bring a curvy sports car concept to the Tokyo Motor Show in October. The automaker is being especially coy with the details, only releasing the dark teaser shot that you see to the right and a cryptic statement that suggests the concept "condense[s] Mazda's entire history of sports-car development into a single model." Immediately, speculation abounded this is an RX-7 and RX-8 successor, though Mazda didn't specify what engine the concept will have. Reportedly, the company is still working on rotary engines. Mazda will have a Cosmo Sport 110S on its stand in Tokyo, which pioneered rotary technology in 1967. Read into that what you will. The Rock pitches Ford service Dwayne Johnson, also known as The Rock, is the new frontman for Ford service.

Petrolicious pays visit to tuning sensation the Ringbrothers

We caught up with a few projects from Ringbrothers at SEMA this year: a classic Ford Mustang body rendered in carbon fiber, and a De Tomaso Pantera-based concept that made us swoon.
It's with good timing then, that our friends at Petrolicious have uploaded their newest, well-crafted mini-documentary to the expansive airwaves of the Internet. Here, we meet the brothers Ring in person - Mike and Jim - and see how they've lent they're passion for craftsmanship to their business, along with their surname. A 1964 Ford Fairlane dubbed "Afterburner" and a 1965 Mustang called "Producer" star in this show.