【can you glue down floating vinyl plank flooring】GM electric vehicle tax credit phase-out to begin this year: Report
U.S. automaker General Motors will soon lose the ability to offer customers a discount on its electric vehicles,can you glue down floating vinyl plank flooring as Tesla cuts prices on all of its models to combat the same issue.
GM
hit a designated sales threshold – a cumulative 200,000 vehicles – which triggers a phase-out of the $7,500 federal tax credit for electric vehicles, Reuters reported on Wednesday, citing a person briefed on the matter. The automaker is said to have hit the sales figure in the fourth quarter, which suggests the credit will be halved – to $3,750 – around April. Following that timeline, the credit would fall further to $1,875 in October before being completely eliminated in April 2020.
After GM announced plans to shutter U.S. factories, the Trump administration threatened to cut subsidies to the U.S. automaker – including those for electric vehicles.
GM did not immediately return FOX Business’ request for comment.
It was widely expected the automaker would hit 200,000 in sales by early 2019.
In a bid to boost profits, GM has narrowed its vehicle offerings, including a focus on its portfolio of electric models. It is scheduled to release two new electric cars in 2019, adding to a total of 20 by 2023.
Meanwhile, shares of Tesla plunged on Wednesday after the electric automaker announced it was slashing the price of its vehicles by $2,000 to combat the phasing out of the same federal tax credit. On Jan. 1, customers looking to purchase a Tesla were only eligible to receive $3,750 in tax credits after Tesla reached the 200,000 sales milestone last year. The credit will be entirely phased out by 2020.
Related Articles
The U.S. Economy is Sucking Wind
Uber Races Ahead to Get Self-Driving Cars on the Road
Have $4.5M to Spare? Ferrari's Most Exclusive Car Up for Auction
View comments
(责任编辑:Encyclopedia)
- ·Silver Price Daily Forecast – Silver Attempts To Break Through The Key Resistance Level
- ·Cardinal Health (CAH) Beats on Earnings & Revenues in Q4
- ·Omarosa Laughs Through 20-Minute Colbert Interview, Doesn’t ‘Regret Trying To Be a Voice of Reason’ (Video)
- ·5G is coming in 2019, and it's going to change your life
- ·US colleges in the crosshairs as coronavirus fears swirl
- ·Corporate News Blog - Alliance Resource Partners and Alliance Holdings GP Announce Elimination of IDRs and Conversion of General Partner Interest for 56.1 Million ARLP Units
- ·Understated Factors To Consider Before Investing In Reliant Bancorp, Inc. (NASDAQ:RBNC)
- ·Australia's LNG exports slip behind Qatar in January on outage
- ·Is MYR Group (MYRG) a Great Value Stock Right Now?
- ·Who Has Been Selling Virtusa Corporation (NASDAQ:VRTU) Shares?
- ·High-Yield ETF Rout Widens Gap With Benchmarks
- ·Who Created Bitcoin?
- ·Camikaze, the First Drone to Capture Death-Defying Moments in All Its Glory
- ·Can We See Significant Institutional Ownership On The Ceconomy AG (FRA:CEC) Share Register?
- ·Crude Oil Price Update – Needs to Hold Major 50% Level at $36.07 to Sustain Upside Momentum
- ·Why Caesarstone Ltd. (NASDAQ:CSTE) Could Be Worth Watching
- ·Starting in 2019, You Won't Get a $7500 Tax Credit on a New Tesla
- ·Morgan Stanley Downgrades Hologic On Tough Cynosure Recovery, Surgery Business Risks
- ·Global 5G infrastructure market size to reach USD 47.6 Billion by 2027
- ·‘Wayne’s World’ Director Penelope Spheeris Reveals How the Iconic ‘Bohemian Rhapsody’ Scene Came to Be