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Shopping for an EV? Tax credits for your dream car might slip away soon

Volkswagen ID.5 (Volkswagen)

Whether you’re making the switch out of a gas-powered car or thinking of adding another EV into the mix, tax credits could go away for your desired car.

The climate-health-tax package could become law soon. And while Democrats had aimed to expand consumer tax credits for battery-powered vehicles Sen. Joe Manchin called for some supply chain requirements in order to go along with the broader bill.

The Alliance for Automotive Innovation estimates that’ll cut vehicles eligible for the credits from 72 to 25. Brands eligible for a tax credit include BMW, Ford and Rivian. As Electrek reports, sales can push manufacturers over the predetermined threshold of qualified sales, and Tesla is part of that group.

For some EV owners, however, this incentive wasn’t an influence on their decision anyway.

Anuarbek Imanbaev, VP of the Tesla Owners Club Austin, said the credit played very little role in his decision to get a Tesla.

He views his first Tesla as a more luxurious type of purchase that’s a different approach than what other car shoppers have.

“That's a different segment,” Imanbaev said. “I think in that segment, it was nice to have, but it wasn't anything that affected whether I would buy the vehicle or not.”

Still, Imanbaev thinks for those shopping for vehicles up to about $65,000, the tax credit could increase demand.

Reginald Collins, a sales professional at Onion Creek Volkswagen, has talked to the clients who weigh cost more when buying a vehicle and he said the tax credit is a “huge deal.”

“On top of the fact that you're not paying for any gas. And you're saving Earth, it's not a combustion vehicle,” Collins said, referring to Volkswagen’s ID.4 that people can buy with a $7,500 tax credit.

What’s its appeal over a Tesla or other electric vehicles?

“Just the flexibility of it, it's much less expensive,” Collins said.

And while EVs require some wait—Collins estimates the ID.4 taking about 8 to 10 months— he also said that the plant in Chattanooga, Tennessee is making for faster production.

“If you need parts, you can order them from the states instead of ordering them in Germany,” Collins said. “So if you have customer issues they can get parts quicker.”

So if you’re trying to get a deal on an EV, you may need to act quickly. The Senate sent the plan, known as the Inflation Reduction Act, to the House earlier this week meaning it could be headed to President Biden’s desk soon.


Brutally honest ACL lineup review
Ismael Quintanilla III /

Editor's note: the author is an Austin-based music journalist.

There are only two logical reasons for you to click on an article about Austin City Limits one week before the annual festival makes its grand return to Zilker Park: You’re either psyching yourself up for another whirlwind weekend, or you want to justify your decision for not snagging tickets.

Luckily, there’s something in this article for both parties.

This year’s ACL lineup delivers several heavy-hitting triumphs along with a few puzzling inclusions. One praiseworthy feature that immediately sticks out: There’s at least one woman occupying the top line of each day on the festival poster, and two on Friday (The Chicks, SZA) and Sunday (Kacey Musgraves and Paramore) apiece. It might not seem like much, but in an era where music festival lineups are still overwhelmingly male (and white), it’s a notable gesture that hopefully signals even greater diversity in future bookings.

Female headliners are also supplying the bulk of the star power this year. C3 Presents had their work cut out for them matching last year’s megawatt George Strait headlining performance, but they rose to the occasion with the savvy booking of the Chicks, who haven’t played a proper Austin show since 2016 at the Germania Insurance Amphitheater (they also dropped by the Moody Theater in 2018 to perform at Mack, Jack & McConaughey’s annual gala). And with Musgraves returning just three years after her last Zilker Park romp (admittedly a strange move), ACL further shores up its identity as a top-draw festival that’s more country-friendly than many of its contemporaries — this is the Lone Star State, after all.

Unfortunately, this comes at the expense of a solid rock lineup, which feels increasingly like an afterthought at ACL. Don’t get it twisted: Paramore are poised to make a triumphant ACL debut, and with a new song, “This Is Why,” out this week and an album of the same name coming in February (their first since 2017’s After Laughter), they’re a no-brainer booking. But it’s harder to get excited about their Sunday night counterparts, Red Hot Chili Peppers.

Sure, the veteran funk-punks recently reunited with classic-era guitarist John Frusciante and will be promoting two new albums, April’s Unlimited Love and the brand-new Return of the Dream Canteen, out Oct. 14. But the band headlined ACL just five years ago, and in a year featuring mammoth tours and residencies from Rage Against the Machine, My Chemical Romance, Elton John and Aerosmith (not to mention the Strokes, who just finished supporting RHCP on their U.S. stadium tour), the booking feels particularly uninspired.

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8 Austin people make the Forbes 400 list

Thai Lee co-founded technology services company SHI International in 1989.

The new list is out from Forbes. Here are the Austin, or in some cases, Austin-ish, people on it:

1. Elon Musk, $251B, technology (various locations, primarily Austin)
16. Michael Dell, $50B, technology
86. Robert Smith, $8B, private equity (Vista Equity located here but he may reside in Florida)
99. Joe Gebbia, $7.6B, Airbnb
202. Tito Beveridge, $5B, beverages
234. Joe Liemandt, $4.5B, software
252. Thai Lee, $4.2B, IT
369. John Paul DeJoria, $2.9B, hair care, beverages

Click here to read the complete list on Forbes.