【denon avr 3800h not recognizing subwoofer】GM sold 200,000 electric vehicles in U.S. by 2018, triggering tax-credit phaseout - source
(Adds Tesla hitting cap,denon avr 3800h not recognizing subwoofer cutting prices, background on GM actions)
By David Shepardson
WASHINGTON, Jan 2 (Reuters) - General Motors Co hit 200,000 total electric vehicles sold in the United States by the end of 2018, reaching a threshold that triggers a phase-out of a $7,500 federal tax credit over the next 15 months, a person briefed on the matter said Wednesday.
The largest U.S. automaker reached the figure in the fourth quarter of 2018, which means the credit will fall to $3,750 in April, and then drop to $1,875 in October for six months. The credit will completely disappear by April 2020. The 200,000 figure covers GM's cumulative EV sales since 2010.
The tax credit is aimed at defraying the cost of electric vehicles that are more expensive than similarly sized internal combustion engine vehicles. In 2009, Congress set the phase-out threshold at 200,000 vehicles per manufacturer.
GM, which said previously it expected to reach the 200,000 sales figure before the end of 2018, declined to comment ahead of the release of its quarterly sales results on Thursday.
GM and Tesla Inc, which hit the 200,000 figure in July 2018, have both lobbied Congress to lift the cap or extend the existing tax credit. Tesla's EV tax credit fell to $3,750 on Tuesday and Tesla said it was cutting prices on its EVs by $2,000 to partially offset the lower tax credit.
In March, GM Chief Executive Mary Barra called on Congress to expand the consumer tax credit for electric vehicles as the company boosted production of the EV Bolt in response to consumer demand. She repeated the request last month during a visit to Capitol Hill.
GM said in November it was doubling resources allocated to developing electric and self-driving vehicles as part of a significant restructuring that includes ending production at five North American plants. GM also announced it would halt production of the plug-in hybrid Chevrolet Volt by March.
In November, a congressional report said 57,066 taxpayers claimed $375 million in EV tax credits in 2016. Congress estimates the cost of the EV tax credit at $7.5 billion between the 2018 and 2022 fiscal years. (Reporting by David Shepardson; Editing by Bernadette Baum)
View comments
下一篇:Green Stream Highlights Recent Video Presenting Company's Unique Solar Energy Solution
相关文章:
- What Cineworld Group plc’s (LON:CINE) ROE Can Tell Us
- Should You Sell in May or Buy 5 Top Coronavirus-Immune Stocks?
- HqO Launches Suite of Features to Facilitate Return to Work
- Is Changan Minsheng APLL Logistics Co., Ltd.’s (HKG:1292) CEO Salary Justified?
- Aptose to Hold Corporate Update Sunday, December 6th
- HSBC, Standard Chartered Shares Plunge After Dividend Payment Cancellations
- A design trends forecaster calls the coronavirus “an amazing grace for the planet”
- Platinum Group Metals Ltd. Completes At-The-Market Offering
- Canada Cardiac Rhythm Management Devices Market Outlook to 2025 - Cardiac Resynchronisation Therapy (CRT), Implantable Cardioverter Defibrillators (ICD), Implantable Loop Recorders (ILR) and Pacemakers
- Domino's Pizza (DPZ) is an Incredible Growth Stock: 3 Reasons Why
相关推荐:
- 'Unsustainable': Mexico's Pemex buckling under crushing pension debt
- Toy CEO says it 'sickens' him that people profit from a shortage of supplies to fight coronavirus
- Amazon's (AMZN) Latest ML Services Boost Its AWS Portfolio
- Wisconsin Father Hits 500,000 Push-up Milestone on the Path to Break World Record
- Global Flavored Water 2019 - Key Insights and Drivers Behind the Flavored Water Market Performance
- Walmart Stock Rises 3%
- WhatsApp no longer supported on millions of phones
- Ex-Tesla employee agrees to pay $400K over claims he stole trade secrets
- Orkla ASA: Higher in-home consumption of food and cleaning products spurred growth for Orkla
- Former Walmart CEO says coronavirus will challenge department stores
- Vishay Precision Group, Inc. to Host Earnings Call
- X-ray Tube Market - Growth, Trends, Forecasts (2020 - 2025)
- Equitrans Midstream Corporation (ETRN) Stock Moves -1.99%: What You Should Know
- How Does Ensign Group's (NASDAQ:ENSG) P/E Compare To Its Industry, After The Share Price Drop?
- Is Burlington Stores (BURL) a Solid Growth Stock? 3 Reasons to Think Yes
- JPMorgan (JPM) Signs Deal to Acquire Fintech Start-up 55ip
- StepStone Real Estate Adds Margaret McKnight as Partner
- Eversource (ES) Q3 Earnings Lag, Revenues Beat Estimates
- 5 Value Stocks In The Energy Sector
- Considerable EBIT improvement in the first two months of 2020