Analysts are nonetheless sizing up the affect of the Inflation Discount Act, and now see it greater than doubling EV gross sales. Inexperienced Automotive Studies begins trying on the results of the EV leasing loophole utilizing federal cash to chop the price of imported and luxury-brand EVs. And we get an entire image of how a lot the 2024 Kia EV9 prices. This and extra, right here at Inexperienced Automotive Studies. 

Kia has offered full pricing particulars for the upcoming 2024 EV9 three-row electrical SUV. Whereas the EV9 Gentle with an anticipated 225-mile vary begins at $56,495, the 300-mile Gentle Lengthy Vary begins at $60,695 and the top-trim GT-Line mannequin goes for $75,395. Which means all the variations will slot below the $80,000 ceiling of the U.S. EV tax credit score, qualifying for a few of it as soon as U.S. EV9 manufacturing ramps up in 2024. 

The Inflation Discount Act (IRA) was enacted in August 2022, and plainly the car market, auto trade, and the whole lot related to plugging in are collectively nonetheless coming to phrases with its far-reaching results. A brand new evaluation by S&P World Mobility means that the IRA might greater than double U.S. EV gross sales versus earlier projections from the agency—to greater than 4.6 million EVs yearly by the top of the last decade. 

And the IRA launched extra restrictions on the EV tax credit score, emphasizing American-made and American-sourced, in addition to worth and revenue caps. Nevertheless it additionally opened up a possible floodgate of federally backed EV leases with the “leasing loophole” written into the Business Clear Automobile Credit score. Has the “leasing loophole” pushed extra EV buyers to lease vs. purchase? Though it’s early and automakers throughout the board declined remark, the information is already suggesting: Positively sure.

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