The new 2023 Toyota bZ4x and Subaru Solterra are identical EV twins.
Toyota will soon reach the federal 200,000 sales threshold for full EV incentives.
Subaru’s all new to this game and its customers stand to benefit.
The goal was always to eventually phase out federal EV incentives. It was thought that once the established threshold was reached, ICE vehicles and EVs would be evenly priced, or nearly. The threshold was set at 200,000 units and Toyota’s about to reach it. Subaru on the other hand has only begun its EV journey.
Through a number of PHEVs. Toyota’s reached just over 190,000 units eligible for the full rebate so far. Over at Subaru, their sole Crosstrek PHEV has garnered only 5,000 sales so far. As both automakers launch their first fully-electric vehicle, one car company has a better chance of attracting new business than the other.
The incentives don’t completely disappear once the 200k mark is reached. From the initial $7,500, the amount drops by half for the first two quarters after followed by another 50% drop, now to $1,875 and for the final two quarters.
The Detroit Bureau’s story notes that other car companies such as Nissan, Ford, and BMW may soon join Tesla and GM and do without incentives. That is, unless the Biden administration extends the program which could also see the full amount reach a maximum of $12,500.