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GM, Tesla react to Biden Admin’s new EV tax credit rules

Last week, the Biden Administration announced new electric vehicle tax credit guidelines, causing U.S. automakers to re-evaluate which models will qualify for the government's $7,500 incentive in 2024. In its revisions, the White House tightened domestic sourcing requirements within the Inflation Reduction Act (IRA), which prevents EVs from qualifying for the full federal rebate if a certain percentage of their components or raw materials are produced by a "foreign entity of concern," namely China, Russia, Iran and North Korea. The updated guidelines will also prevent U.S. automakers from relying solely on technology licensed from businesses located in one of the aforementioned...

Honda scores November sales win but faces mounting regulatory pressure

While Honda and its subsidiary Acura continued to see strong U.S. sales in November thanks to sustained demand and an improving international supply chain,...

Report shows, EVs are the slowest selling section of the used vehicle market

There's no doubt that the 2020 pandemic has caused a significant decline in vehicle pricing and sales times. On average, new and pre-owned vehicles...

Kia surpasses all-time annual record with best-ever November sales

Kia reported its best-ever November with 58,338 unit sales, up 3% from the same period last year. With one month left in 2023, Kia sold...
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