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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.

Cadillac Live virtual showroom is open for business in the U.S.

Cadillac launched the streaming showroom known as Cadillac Live in Canada earlier this year. The program places a Cadillac product specialist in an open studio laid out similar to a dealership. Equipped with an iPhone X on an Osmo Mobile gimbal and a Bluetooth headset, the specialist conducts one-way video chats with car buyers shopping for Cadillacs and owners who have questions about their cars. Now Cadillac Live has arrived in the United States. Described as "part personal shopper and part interactive digital showroom," it's aimed at converting luxury shoppers into Wreath and Crest buyers by making the research experience simpler. The automaker says it has data showing that "71% of customers report switching to a competitor’s product after finding their selection process easier." As well as being able to show and demonstrate 10 physical vehicles and their features, product specialists will be able to use a tablet app interface to run through color and accessory options. Shoppers and buyers with questions can reach a Cadillac Live agent from 9 a.m. to 1 a.m. ET Monday to Thursday, 9 a.m.-9 p.m. ET on Friday, and 11 a.m.-7 p.m. ET Saturday and Sunday. Calls can be taken on demand or scheduled at the Cadillac Live site, call appointments can be made for times outside of the traditional opening hours, and multiple callers can participate. U.S. customers in California, Illinois, New Jersey, and New York who like what they discover can automatically be connected to a local dealer to move on to the next phase. And video calls are one-way, so work-from-home types need not worry about broadcasting their coffee-stained "Beast Mode" workwear. 

Cadillac boss: Don't ask why we have so many sedans

Ugh, crossovers. Car-based, high-riding station wagons, for some reason, sell in absurd numbers and make automakers lots and lots of money. That's why automakers with a strong lineup of CUVs are running strong, while sedan-heavy brands are struggling. Cadillac is all too aware of this fact. While the company is preparing to launch the new CT6 luxury sedan, it's also realizing four sedans, a coupe, a crossover, and a $73,000, old-school, body-on-frame SUV does not a healthy lineup make. Worse, though, as Cadillac President Johan de Nysschen rued during the LA Auto Show, is that the new CT6 is joining a segment already oversaturated. While it's a big, expensive vehicle, it's not much bigger or more expensive than the CTS and XTS sedans. "Please don't ask me why we have three cars in the same segment," de Nysschen said, stopping midway through an interview with Automotive News on the CT6's market placement to make the crack. "That's a whole different subject." As for those CUVs, the new XT5 debuted in LA, and it will eventually be joined by another much-needed CUV in 2018, AN reports. Related Video: