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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

How two-state Chevy Spark EV outsold 50-state Volt last month

Is it really just about price? Last month, the Chevy Spark EV got a sizable price drop of $1,500 alongside a lowered lease price of $139 a month (down from $199). Those numbers, particularly that cheap lease, had a tremendous impact on how many all-electric Sparks GM sold last month. There were 920 Spark EVs sold in April, and the Spark EV is available in only two states: California and Oregon. Sales will start in Maryland in the third quarter of 2015, but there are no pre-orders taking place there, so all 920 were West Coast sales. To be more precise, there were about 864 Spark EV leases signed last month, since 94 percent of those 920 sales were retail leases. As Annalisa Bluhm from Chevrolet communications told AutoblogGreen, that level was, "simply insane." "In those states which offer Spark EV, you can get a 1LT Spark EV for less than a 1LT Spark, with more features" Bluhm said. "Factor in that you will save approximately $82 per month by abstaining from gas, and it's easy to see why people went crazy for the Spark." Let's put 920 into perspective. For one thing, it's crazy up from the 151 Spark EVs sold in March 2015 and the 97 sold in April 2014. It's also almost as many as GM sold all last year, and way more than two years ago. The General sold 653 Spark EVs in 2013 and 1,146 in 2014. To throw in a comparison with GM's longstanding plug-in champion, the aging Volt, the Spark EV came out ahead in the monthly tally for the first time ever. In April, the Volt sold 905 units. The plug-in hybrid's best-ever sales month was August 2013, when it sold 3,351 units. Counting all models and powertrains, Chevy sold 3,743 Sparks in April. So, does this success mean that Chevy is looking to bring the Spark EV to more markets? Bluhm said that GM is considering other states and is always looking at the business case, but has "nothing to announce yet." Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

Fernando Alonso fails to qualify as Pagenaud takes Indy pole

Former Formula One world champion Fernando Alonso narrowly failed to qualify for the Indianapolis 500 on Sunday as France's Simon Pagenaud took pole position for the May 26 race. Kyle Kaiser beat out Alonso for the final spot in the 33-car field when he finished third, one spot ahead of the Spaniard, in a six-car shootout that determined the Indy 500's last row. The 23-year-old Kaiser, the last driver to take the track, averaged 227.372 mph for his four laps, a mere 0.019 mph ahead of Alonso's 227.353 mph average in the McLaren-prepared Chevrolet. "We never surrendered. We kept trying," Alonso, 37, told reporters after a tough week at the famed speedway. The Spaniard crashed his Chevrolet in practice on Wednesday and missed nearly two full days of practice while a back-up car was prepared. Then he tried five times on Saturday to qualify, puncturing a tire on the first attempt. Alonso had a completely new set up for Sunday's shootout but could not get the speed he needed to qualify. "I think the car felt better today than what we had yesterday. (So I am) happy with things we tried," he told reporters before learning he had not qualified. Pagenaud had a four-lap average speed of 229.992 mph to become the first Frenchman to take the pole since Rene Thomas in 1919. "It's just amazing," Pagenaud, who last week won the IndyCar Grand Prix on the track's road course, told NBC Sports. "Obviously last week was amazing, but this is even more special." He will be joined by Ed Carpenter (229.889) and Spencer Pigot (229.826) on the front row. But the Cinderella story belonged to Kaiser, the 33rd qualifier. "I don't think I can wrap my mind around what we just did," he said after bumping Alonso from the field. "This is all the credit to the team. They've been working non-stop trying to get this car ready for us and they did everything that we needed to get into this field." (Reporting by Gene Cherry in Raleigh, North Carolina; Editing by Ken Ferris)Related Video: Motorsports Chevrolet McLaren Racing Vehicles F1 IndyCar