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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: Things you might not know about the 2015 Dodge Charger and Challenger Hellcats

If you're an enthusiast, and you don't know that Dodge spawned another Hellcat this week, you really must have been living in cave. The 2015 Dodge Charger SRT Hellcat is probably the biggest news for enthusiasts since the reveal of, well the 2015 Dodge Challenger SRT Hellcat.
But, there are some things you might not know or might have missed about the new Charger and Challenger Hellcats. For starters, reports that the Hellcat production would be limited to a low volume are not true.
"We have not capped the Hellcat on either the Challenger or the Charger," Dodge CEO Tim Kuniskis said.

Toyota reveals custom Mark X, Harrier and Prius for Tokyo Auto Salon

Toyota offers a robust lineup of models in markets around the world – ours included – but there are certain models that remain reserved for Japan, and now it has revealed some tantalizingly modified versions for its home market. Arguably chief among them is a version of the Mark X that's been upgraded by GRMN. For those unfamiliar, the Mark X is a rear-drive sport sedan offered in the Japanese Domestic Market, while GRMN (shorthand for Gazoo Racing Masters of Nurburgring) is the street-tuning division of one of the company's racing departments. The confluence of these two Japanese lines brings some enticing upgrades to the sedan, including a new front bumper, carbon-fiber roof, trunk spoiler, 19-inch alloys, sport suspension, upgraded brakes and an interior decked out with sports sedans and steering wheel as well as carbon, piano black and Alcantara trim. Motivation comes from a 3.5-liter V6 driving 316 horsepower to the rear wheels through a six-speed manual transmission and Torsen limited slip differential. Joining the Mark X GRMN are a pair of models enhanced by G's, another one of Toyota's Japan-centric performance lines. There's an Elegance version of the Harrier – similar to the Lexus RX we get Stateside – with a sports suspension dropped by 1.4 inches, upgraded brakes, an aggressively restyled front end and an enhanced interior. Alongside it Toyota has revealed a version of the tall-roofed Prius Alpha (which we know as the Prius V) with a similarly upgraded suspension, refreshed front end styling and interior with sports seats and silver-stitched black interior. All three models are slated to debut at the 2015 Tokyo Auto Salon - Japan's equivalent of the SEMA show - next month at the Makuhari Messe in Chiba. Featured Gallery Toyota at 2015 Tokyo Auto Salon View 18 Photos News Source: Toyota Aftermarket Green Tokyo Auto Salon Toyota JDM toyota prius v