Tax credits will not be an issue for ford for a long while. I dont like all these youtube folks who don't know how to research easy to find info.
Qualified Plug-In Electric Drive Motor Vehicle Credit (IRC 30D) Phase Out
The qualified plug-in electric drive motor vehicle credit phases out for a manufacturer’s vehicles over the one-year period beginning with the second calendar quarter after the calendar quarter in which at least 200,000 qualifying vehicles manufactured by that manufacturer have been sold for use in the United States (determined on a cumulative basis for sales after December 31, 2009) (“phase-out period”). Qualifying vehicles manufactured by that manufacturer are eligible for 50 percent of the credit if acquired in the first two quarters of the phase-out period and 25 percent of the credit if acquired in the third or fourth quarter of the phase-out period. Vehicles manufactured by that manufacturer are not eligible for a credit if acquired after the phase-out period.
I think Ford is going to reach the 200,000 mark in the 3rd quarter of 2022..then from what I understand,all ev sold in the third and fourth quarter of 2022 will be able to apply the 7500 tax credit. The first and second quarter of 2023, the ev tax credit will be reduce to $3750 and then third and fourth quarter of 2023 the tax credit will be $1875. No more tax credits in the beginning of 2024.
Good news! If you ordered but don't have a signed contract for the Ford F150 Lightning but are still waiting for the truck to be delivered to your dealer you are in luck as you are still eligible for the $7,500 tax credit. The only change to the existing electric vehicle credit that takes effect after August 16, 2022, and before the end of 2022 is the introduction of the North American final assembly requirement. Otherwise, the rules in effect before the enactment of the Inflation Reduction Act for the electric vehicle credit remain in effect, including the phase-out for manufacturers that have sold over 200,000 vehicles in the United States. https://home.treasury.gov/system/files/136/EV-Tax-Credit-FAQs.pdf How does the Inflation Reduction Act modify the existing tax credit for new electric vehicles? Overall, the reforms in the Inflation Reduction Act mean that the tax credit for electric vehicles will evolve considerably over the coming months and years. However, the only change to the electric vehicle credit that takes effect immediately after the President signs the Inflation Reduction Act into law is the North America final assembly requirement.