Analysts are still sizing up the impact of the Inflation Reduction Act, and now see it greater than doubling EV sales. Green Automotive Reports starts the results of the EV leasing loophole using federal money to chop the price of imported and luxury-brand EVs. And we get a whole picture of how much the 2024 Kia EV9 costs. This and more, here at Green Automotive Reports.
Kia has provided full pricing details for the upcoming 2024 EV9 three-row electric SUV. While the EV9 Light with an expected 225-mile range starts at $56,495, the 300-mile Light Long Range starts at $60,695 and the top-trim GT-Line model goes for $75,395. Meaning all the versions will slot under the $80,000 ceiling of the U.S. EV tax credit, qualifying for a few of it once U.S. EV9 production ramps up in 2024.
The Inflation Reduction Act (IRA) was enacted in August 2022, and evidently the vehicle market, auto industry, and all the pieces related to plugging in are collectively still coming to terms with its far-reaching effects. A brand new evaluation by S&P Global Mobility suggests that the IRA could greater than double U.S. EV sales versus previous projections from the firm—to greater than 4.6 million EVs annually by the tip of the last decade.
And the IRA introduced more restrictions on the EV tax credit, emphasizing American-made and American-sourced, in addition to price and income caps. But it surely also opened up a possible floodgate of federally subsidized EV leases with the “leasing loophole” written into the Industrial Clean Vehicle Credit. Has the “leasing loophole” driven more EV shoppers to lease vs. buy? Even though it’s early and automakers across the board declined comment, the info is already suggesting: Definitely yes.
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This Article First Appeared At www.greencarreports.com
