Driving into the Future: Ford Confirms New Electric & PHEVs Eligible For Increased Tax Credits
Ford Announces New EVs Eligible for Increased Inflation Reduction Act Consumer Incentives!
As the automotive industry continues to evolve, the shift toward electric vehicles (EVs) is gaining momentum. Ford, a pioneer in the automotive world, has recently confirmed that its popular EVs and plug-in hybrids (PHEVs) are now eligible for more significant federal tax credits under the Inflation Reduction Act, according to recent guidance from the U.S. Treasury Department. This is excellent news for customers considering going green with Ford, and Bill Brown Ford is thrilled to be a part of this revolutionary journey.
Ford’s commitment to electric mobility has been evident with the success of its EV lineup, making it the No. 2 EV brand in the U.S. last year. Now, with the availability of consumer incentives, even more, Americans can hop on board and experience the benefits of driving an electric vehicle.
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Let’s take a closer look at Ford’s must-have EV lineup and the eligibility amounts for each vehicle:
- Ford F-150 Lightning: $7,500 credit
- Ford Mustang Mach-E: $3,750 credit
- Ford E-Transit: $3,750 credit
And for plug-in hybrids, Ford offers
- Ford Escape Plug-In Hybrid
Claim Up to $7,500 in Electric Vehicle Tax Credits
But wait, there’s more! If you’re quick to make a decision, customers who take delivery of a Ford EV before April 18th will be eligible for the maximum amount of $7,500. However, it’s important to note that all of these incentives require the vehicle’s MSRP to be at or below $80,000, and the purchaser must meet certain income limits. Additionally, all of these vehicles are assembled in North America, meeting another requirement for the consumer tax incentive.
Commercial customers are included too! They are also eligible for commercial tax incentives of up to $7,500, providing an excellent opportunity for businesses to go green and save on their bottom line. Business owners have a distinct advantage over households in terms of tax breaks for electric vehicle purchases. Unlike the consumer program, there are no restrictions on income, price, or vehicle manufacturer for businesses. This means that businesses can claim tax credits ranging from $7,500 to $40,000, and these credits do not have an expiration date. Furthermore, these credits can be utilized for up to 10 years, extending till 2032, making it an attractive option for businesses looking to invest in electric vehicles.
As Ford’s vehicle lineup continues to evolve and eligibility requirements may change, Bill Brown Ford remains committed to keeping customers informed about the latest incentives and updates. So, keep an eye out for more exciting news from Ford as the EV revolution continues to gain momentum.
2023 EVs For Sale at Bill Brown Ford in Michigan
If you’re in the market for a new electric vehicle, look no further than Bill Brown Ford in Livonia, Michigan. We currently have a selection of 2023 Ford EV and Hybrid options, including the popular Mustang Mach-E and F-150 Lightning, available for immediate purchase on our lot. You can visit Bill Brown and explore the available models in person or conveniently check out our local Michigan Dealerships TrueView™ Inventory online, which is updated multiple times daily to reflect only the stock units that are currently available. Don’t miss out on the chance to find your perfect eco-friendly vehicle at Bill Brown Ford!
Call 734-452-1024 to set up a test drive today or schedule online through our TrueView™ Inventory. Searching for a Sales Consultant to assist you through the process? Frank Succurro joined the Bill Brown sales team in 2017, but he began his career in the automotive industry in 2012. As a graduate of Fordson High School, Frank grew up in Dearborn and was immersed in the Ford world from an early age. We look forward to helping you get behind the wheel of your dream ride!
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