Connect with us

Published

on

After announcing 2024 Solterra prices and updates, Subaru made a goof on its press release. Subaru mistakenly said some 2024 Solterra owners will qualify for the $7,500 EV tax credit. But there’s one (major) issue – It’s not built in the US.

Subaru “owners” are not eligible for $7,500 EV tax credit

Subaru introduced the 2024 Solterra electric SUV yesterday with new upgrades, including faster charging and more.

Thanks to an upgraded battery conditioning system, the 2024 model can recharge up to 80 minutes faster in extreme temperatures. The new Soltera can charge from 10% to 80% in “as little as 35 minutes.” That’s down from “under an hour” in last year’s model.

The new model also features an upgraded steering wheel with regenerative braking force paddle switches and standard roof rails.

Subaru said the roof rails are ideal for a rooftop tent or other large items with 700 lbs static load capacity (176 lbs dynamic).

Despite the upgrades, Subaru kept the starting price the same. The 2024 Solterra starts at $46,340. That’s including a $1,345 destination fee.

2024-Subaru-Solterra
2024 Subaru Solterra (Source: Subaru)

Meanwhile, the press release claimed the “2024 Solterra will qualify for applicable federal tax credits of up to $7,500 for some owners.” As online auto research firm CarsDirect points out, Subaru builds the Solterra overseas, meaning it isn’t eligible for the EV tax credit through purchasing.

It is, however, eligible for the credit through a leasing loophole. Subaru product relations manager Todd W. Hill confirmed, “The tax credit may be available to those who lease the vehicle.”

2024-Subaru-Solterra
2024 Subaru Solterra (Source: Subaru)

Hill added, “In general, we refer to both purchasers and lessees as ‘owners,’ but in this context that language isn’t as clear as it could be.”

Subaru updated the release to read, “The 2024 Solterra will qualify for applicable federal tax credits of up to $7,500 for some customers.” The fine print at the bottom states, “When leased through Subaru Motors Finance.”


2024 Subaru Solterra trim
Starting Price
(including $1,345
destination fee)
Premium $46,340
Limited $49,840
Touring $53,340
2024 Subaru Solterra price and trims

The 2024 Solterra starts at $46,340, with prices for the top Touring trim at $53,340. The 2024 Subaru Solterra Touring includes a gloss black hood accent, panoramic sunroof, and more.

According to Fueleconomy.gov, the 2024 Subaru Solterra gets up to 227 miles EPA range. The Limited and Touring models get 222 miles range.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Elon Musk haters vandalized dozens of Tesla Cybertrucks

Published

on

By

Elon Musk haters vandalized dozens of Tesla Cybertrucks

Elon Musk haters have vandalized dozens of Tesla Cybertrucks being held ahead of delivery at a parking lot in Florida.

As we previously reported, Tesla has briefly halted Cybertruck deliveries due to a problem with its windshield wiper motor.

This has resulted in Tesla accumulating Cybertruck held before delivery at many locations around the US.

Over the last few days, I have been sent half a dozen videos of people dumbfounded about finding parking lots filed with Cybertrucks.

When I received this one from the OnlyinDade account, I thought this was just another one of these videos, but there was more to it:

People who seemingly dislike Elon Musk have decided to vandalize dozens of Cybertrucks sitting in a newly leased parking lot in Fort Lauderdale.

It’s unclear if the ‘f*ck Elon’ graffiti is easily removable or if there’s actual damage to the vehicles.

Electrek’s Take

Without justifying this really dumb act, because there’s no justifying it, this is an example of “Elon is Tesla, and Tesla is Elon.”

Technically, all these vehicles are Tesla’s property – though they are already meant for customers, they just haven’t changed hands yet. It makes no sense to vandalize Tesla’s property because you dislike Elon, but a lot of people see Tesla, a publicly held company, as Elon and Elon as Tesla.

That’s partly Elon’s own doing.

Again, I’m not trying to justify this. It’s obviously the wrong thing to do and ultimately, it will just radicalize his fans even more.

But it does show that Elon is becoming an increasingly polarizing individual and it is problematic to have such a divisive person as the head of such an important company as Tesla.

How about we just don’t vandalize private property. That’s a good standpoint to build on.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Nissan feels the heat from BYD’s EV price war in China

Published

on

By

Nissan feels the heat from BYD's EV price war in China

Nissan is the latest victim of BYD’s “liberation battle” against gas-powered cars. After BYD’s aggressive price cuts this year, Nissan is shutting down a factory in China as it struggles to keep up.

As is the case for many legacy automakers, China is a critical sales market for Nissan. Nearly a third of Nissan’s global sales and net profits are from China.

After slipping out of the top five automakers (by market share) in China in 2022, Nissan’s woes are worsening. Nissan’s sales fell 16% in China last year and the trend has continued into 2024.

Nissan’s sales fell another 2.8% last month, with 64,233 vehicles sold in China. The company cut guidance by 23% last year, with 800,000 vehicle sales expected in fiscal 2024. According to Nikkei, Nissan will do so with one less factory.

Nissan is closing the doors to its plant in Changzhou as the factory is building more cars than it can sell.

The facility accounts for about 8% of Nissan’s production capacity in China, with an annual capacity of around 130,000 units. According to the report, the plant shuts down on Friday.

Nissan-BYD's-EV
Nissan Ariya electric SUV (Source: Nissan)

Under its joint venture with China’s Dongfeng Motor, Nissan has eight plants in the region. Its total annual capacity is around 1.6 million, double Nissan’s projected sales figures for fiscal 2024.

Nissan shuts down China plant amid BYD’s EV price war

The plant shutdown comes as Nissan struggles to keep up in an increasingly competitive China EV market.

China’s largest automaker, BYD, kicked off a “liberation battle” against ICE vehicles earlier this year. The goal is to continue taking market share from gas-powered cars with lower-priced EVs. So far, it seems to be working.

Nissan-BYD's-EVs
BYD (Dolphin Mini) Seagull EV (Source: Nissan)

BYD has drastically cut prices while introducing lower-priced EV models. Its cheapest, the Seagull EV, starts under $10,000 (69,800 yuan).

BYD’s CEO, Wang Chaunfu, said EVs have entered “the knockout round” and that the next two years will be critical for automakers to catch up.

With lower-priced, more advanced models hitting the market, BYD sees joint venture brands (like Nissan’s) market share falling from around 40% to 10% in China.

Nissan isn’t the only legacy automaker feeling the heat. Japanese rivals Toyota, Mitsubishi, and Honda have also pulled back in China amid slumping sales.

Nissan-BYD's-EV
Nissan EV concepts (Source: Nissan)

Meanwhile, BYD looks to expand its global footprint after outgrowing China’s EV market. BYD is closing in on a deal for a plant in Mexico that would be among the biggest in the country. The company expects to sell 50,000 vehicles in Mexico this year.

BYD is also expanding on Nissan and Toyota’s home turf. According to data from the Japan Automobile Importers Association, BYD accounted for over 20% of Japan’s EV imports in January.

With longer-range, lower-priced models rolling out, BYD’s momentum is expected to continue. China’s leading automaker is also expanding into new segments like pickups (check out the new Shark PHEV), mid-size electric SUVs, and luxury.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Tesla Model 3 Long Range costs $3,200 more to finance than last week

Published

on

By

Tesla Model 3 Long Range costs ,200 more to finance than last week

Tesla scrapped promotional financing on the Model 3 Long Range this week after it became eligible for the $7,500 federal tax credit.

As Electrek reported on June 17, Tesla and the IRS confirmed that the Model 3 Long Range All-Wheel Drive is now eligible for the full tax credit. Today, Tesla is pricing the EV’s upfront purchase price at just $34,990 – $1,000 more than the Model 3 Rear Wheel Drive – including the federal tax credit and an estimated five-year gas savings of $5,000.

The Model 3 Rear Wheel Drive still doesn’t qualify for the federal tax credit because it uses LFP battery cells from China.

The Model 3 Long Range is now listed at 6.39% APR on loans up to 72 months. The Model 3 Rear-Wheel Drive continues to offer 1.99% APR for 36 months with a 60-month option at 2.99%.

Even though the Model 3 Long Range is now $7,500 cheaper, the higher interest rate is a bit of a party pooper, as it eats up potential savings. The folks at CarsDirect estimated that on a five-year loan, thanks to the 6.39% interest rate, the Model 3 Long Range has more of a $4,200 advantage than a $7,500 advantage.

If you’re eligible for the federal tax credit, the Model 3 Long Range is cheaper than before but costs around $3,200 more to finance through Tesla than last week. CarsDirect suggests comparing your options carefully if you’re shopping for a Model 3 Long Range. 

Click here to find a local dealer that may have the Model 3 in stock –affiliate link


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending