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Kelley Blue Book Helps Car Shoppers Navigate Electric Car Tax Credits
Amid Rapid Segment Growth, Tax Season and Earth Day, Experts Break Down EV Tax Credit Details and More
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IRVINE, Calif., April 22, 2021 /PRNewswire/ Electric cars undoubtedly are the wave of the future, and growth in the segment is on quite an upward trajectory. According to data from Cox Automotive, electrified vehicles accounted for 7.8% of the total Q1 2021 sales, up from 4.8% in the same period last year. By the end of 2024, experts expect to see more than 100 electric models available to car shoppers. With an ever-growing list of new electric vehicles (EVs) hitting the marketplace, many shoppers are intrigued by the option to switch from gasoline to electric. Yet as they seek to understand the environmental and financial benefits an electric car provides, shoppers may be confused trying to navigate the details of available tax credits for EV owners. A
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With the introduction of its new C40 Recharge on Tuesday, Volvo became the latest automaker to bet that consumers who have so far been cool to the idea of an electric vehicle might change their minds if it comes in a form they love: the crossover. Whether they do may be crucial to the success of California’s plan to end sales of gasoline and diesel cars by 2035.
Volvo joins Ford of Europe and Jaguar in going all in on EVs, promising every car it makes and sells by 2030 will be all-electric. In a webcast to introduce the new vehicle, the company also laid out a radical new retail strategy the C40 and all electric Volvo cars will be available for purchase only online.
00 min: Payne intro
05-20 min: Call-in with Anton Wahlman, investor and auto analyst, Seeking Alpha. Talking GM’s move to EVs by 2035.
20: Ad break
20-40: Call-in with Robin Warner, auto writer. Talking Acura MDX.
40-55: Call-in with Steven Cole Smith, auto writer with Autoweek and The Drive. Talking Rolex 24 Hours of Daytona.
55-1.00: Ad break
1.00 hr: Payne intro
1.04-1.20: Call-in with Matt DeLorenzo, Senior Managing Editor for Kelley Blue Book. ALSO WITH Tom McDonald joining at 1.10 PM
1.20-1.40: Call-in with Tom McDonald, M1 Concourse. Talking with Matt, then talking M1 Concourse at center of 2021 auto shows.
1.40-1.55: Best of Car Radio: Jeep/Ram CEO Tim Kuniskis intros Jeep Gladiator at 2018 LA Auto Show.
Updated 2/22/2021 2:40 PM
It doesn t feel like February without the swagger, tire-kicking and glitz of the Chicago Auto Show. The COVID-19 pandemic has swallowed the annual event, although organizers hope for a reset later this year.
But that won t stop our annual preview of hot cars and auto trends.
One major gear shift is the new spate of electric vehicles coming out in 2021, Consumer Guide Automotive Publisher Tom Appel said. They re very mainstream, mid-price, approachable vehicles. Unlike other electric vehicles before them, there are fewer compromises.
Although electric vehicles comprise less than 10% of new cars sold in the U.S., I think we are, right now, sitting on the precipice of electric acceptance, said Appel, a Palatine resident. There are more electric vehicles than customers (currently). That s not going to last very long.