08-15-2022, 06:49 PM | #67 |
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One thing I am gleaning from his wording is that the 45e batteries will not meet the requirements. I could be wrong given the other mistakes in the memo but have a feeling that is what he is saying.
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08-15-2022, 06:52 PM | #68 |
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Once the MSRP and AGI rules kicks in, I'd be curious to see how well the x45e sells vs the x40i. Base price difference is $1,800 but with the $7,500 tax incentive the x45e was $5,700 cheaper which was a great selling point.
Once the x50e is released, it better have double the range on electric or improved charging to remain compelling to potential buyers. I'm sure it will continue to sell but unlike the situation with the x45e, allocations was scarce. |
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08-15-2022, 06:55 PM | #69 | |
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As an aside, at this point it looks like there will be little to no increase in range for the 50e.
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08-15-2022, 06:59 PM | #70 | |
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08-15-2022, 07:00 PM | #71 |
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Can you point to where you came to this conclusion? The current 31 miles on electric only is pretty low. Even getting to 50 miles would be a great improvement. It would allow a lot more people to get to-from work without charging in-between.
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08-15-2022, 07:04 PM | #72 | |
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Quote:
https://g05.bimmerpost.com/forums/sh...light=increase
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08-15-2022, 07:07 PM | #73 |
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Biden will sign the Inflation Reduction Act tomorrow, Tuesday, August 16, which means TODAY is the last day to qualify for the “old” EV Tax credit. (for vehicles assembled outside of North America)
https://electrek.co/2022/08/15/biden...ng-ev-credits/ |
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08-15-2022, 07:44 PM | #74 |
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So they are going to issue a list of the vehicles that qualify for the new tax credit and the amount they qualify for?
"This leaves out most electric vehicles on sale today, including the GMC Hummer EV, Hyundai Ioniq 5, Mercedes-Benz EQS. Porsche Taycan, and Toyota bZ4X, based either on price or country of origin. The law requires the Treasury Department to release an official list by the end of the year. The Treasury Department is expected to release an official list by the end of the year." https://www.foxbusiness.com/lifestyl...car-tax-credit |
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08-15-2022, 07:50 PM | #75 | |
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The law does not require the Treasury Department to issue a list of vehicles that qualify. Hopefully that will happen at some point but likey will be by another department such as the EPA like it is now. IN GENERAL.—The Secretary shall issue such regulations or other guidance as the Secretary determines necessary to carry out the purposes of this subsection, including regulations or other guidance which provides for requirements for recordkeeping or information reporting for purposes of administering the requirements of this subsection.
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08-15-2022, 08:22 PM | #76 | |
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08-16-2022, 12:46 PM | #77 |
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I'm in Bay Area, my 23 X5 45e has 8/29 as production date so I guess it won't arrive until late Sep. I'm trying to sign a purchase agreement with my dealer but my SA told me they are not allowed to do anything binding until the car arrives because it's required by law. Is this true? Is there anyone in California who is trying to do the same thing?
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08-16-2022, 12:59 PM | #79 | |
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08-16-2022, 02:31 PM | #80 |
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I sent the letter from BMW's CEO to my CA and asked if they'll provide a binding sales order for me. He replied "My manager says he does not know anything about this".
I am very disappointed in how BMW and my local dealer are handling this situation. They should have been proactive like Rivian and created a website immediately so everyone who has an order placed can lock in this tax credit for $100. I'm crossing my fingers I'll be ok since I have a 45e coming, but I think current order holders of vehicles assembled outside US are going to be screwed |
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08-16-2022, 02:38 PM | #81 | |
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08-16-2022, 04:29 PM | #82 |
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I also think legally even verbal contracts and agreements are enforceable (to different extents given your state). I just read the Georgia law regarding enforceable contracts and it says even verbal ones are unless there is a dispute between the two parties. So if you have a signed purchase agreement I don’t know how that could be disputed.
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08-16-2022, 04:33 PM | #83 | |
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Edit: I was just giving some general information, wasn't commenting on whether a signed purchase agreement should satisfy the requirements of the Transition rule or not.
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08-16-2022, 06:46 PM | #84 |
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Well, they issued guidance on the binding contract and it is not good. I would venture to say no one has a binding contract under the definition given it expressly says damages can't be limited to a specified amount such as a deposit unless that amount is at least 5%. Luckily in the case of the 45e everyone that has one on order should take delivery before the guidance comes out, hopefully.
https://www.irs.gov/businesses/plug-...30-and-irc-30d
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08-16-2022, 07:04 PM | #85 | |
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On the other hand, this part sure makes it seem like the Secretary won't be issuing proposed guidance re: batteries before the very last second, so that's good? "Vehicles Purchased and Delivered between August 16, 2022 and December 31, 2022 If you purchase and take possession of a qualifying electric vehicle after August 16, 2022 and before January 1, 2023, aside from the final assembly requirement, the rules in effect before the enactment of the Inflation Reduction Act for the EV credit apply (including those involving the manufacturing caps on vehicles sold). If you entered into a written binding contract to purchase a new qualifying vehicle before August 16, 2022, see the rule above." |
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08-16-2022, 07:12 PM | #86 | |
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08-16-2022, 07:15 PM | #87 |
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Yes, that has been the timeline for implementation on those in the bill from the Senate.
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08-16-2022, 07:17 PM | #88 | |
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