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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.

VW, Jeep and Cadillac top list of most-tattooed car brands

Most car enthusiasts own at least one piece of gear with their favorite brand's logo on it. It can be a T-shirt, a pen, a hat, or a garage sign, for example. It takes a much greater degree of dedication to get a car-themed tattoo, and a study suggests this sky-scraping level of obsession is most often found in Volkswagen, Jeep, and Cadillac fans. Compare the Market analyzed Instagram hashtags and posts to compile a list of the most commonly tattooed brands. Volkswagen came out on top, with 5,507 posts; note that anything related to the Wolfsburg-based brand earns it a point, whether it's a logo, a cutaway diagram of the Beetle's air-cooled flat-four engine, or a Touareg V10's firing order. Jeep finished second with 2,139 posts, followed by Cadillac at 1,775 posts. Surprisingly, the fourth spot is occupied by Pontiac, which appeared in 1,609 posts in spite of the fact that it hasn't built a car since 2010. Holden appears near the very bottom of the top-20 chart, ahead of Lamborghini, and its result might be influenced by the fact that General Motors announced plans to shutter it earlier in 2020. BMW and Mercedes-Benz are in sixth and 12th place, respectively. Alfa Romeo doesn't appear in the top 20, though its decades-old Quadrifoglio logo (pictured) can easily be mistaken for a symbol of Irish luck. Searching for posts that show a tattoo of a specific model uncovered even bigger surprises. According to the same study, the most-tattoed nameplate is the Chevrolet Impala, which appears in 823 posts. Odds are the earlier generations, like Dr. Dre's famous six-four, are more often tattooed than the final-generation model, which unceremoniously went out of production in February 2020 without a direct replacement waiting in the wings. Second place goes to the DeLorean DMC-12, which has transcended its status as an esoteric fiasco on wheels thanks to its role as a time machine in "Back to the Future." It appeared in 800 posts. Chevrolet's Corvette takes a distant third with 180 posts, followed by the Volkswagen Beetle (147 posts) and the Mini Cooper (116 posts). All told, car-themed tattoos are relatively rare. To put some of the aforementioned numbers into context, searching Instagram for the hashtag Volkswagen yields over 15 million posts, while the hashtag tattoo appears in over three million publications. Auto News Cadillac Chevrolet Jeep

What does Jeep have cooking with this stretched Cherokee?

Chrysler has been spotted testing what appears to be a stretched Jeep Cherokee prototype. Which seems odd, considering that Jeep already makes a Grand Cherokee, and that's an entirely different model. The question then is just what the company has in the works here. We don't know for sure – but we do have some ideas. We're anticipating a new Grand Wagoneer to serve as the brand's flagship model, but stretching the Cherokee's wheelbase to leapfrog the Grand Cherokee's would take more than eight inches – and stretching a "compact" platform to get there wouldn't seem to make a lot of sense. Alternatively Jeep could be looking to wedge a new model into its lineup in between the Cherokee and Grand Cherokee, potentially offering a third row of seats and wearing the Wagoneer name - sans the "Grand" - as part of a new range of seven-seaters. Just what the point would be, however, when the Dodge Durango already offers three rows based on the same platform as the Grand Cherokee, is a bit of a mystery. Another possibility is that it's not a Jeep at all, but rather a Dodge. The brand is in need of a replacement for the current Journey, and we're also waiting to see what FCA does to replace the Grand Cherokee since it unveiled the Chrysler Pacifica to replace the Town and Country. More of a crossover approach could take the Cherokee's Compact US Wide (CUSW) platform as its starting point, but stretched like this prototype to offer more space. Whatever it is, we're sure this won't be the last we'll have seen of it, so watch this space. Related Video: