[Clint]

I tried finding reliable data for how many total Kona EVs have been sold and from what I could gather, despite the IRS website stating it's still available for the full $7,500 credit, it looks like Hyundai has sold almost 300k Kona EVs in the U.S.

Can someone with possibly more information comment on how many units were actually sold in the U.S. and or how to find a reliable way to know if that tax credit has been completely exhausted at this point? Also, I don't see why it should matter seeing as how it is a Federal Tax Credit but does anyone know if purchasing the vehicle new out of state would possibly prevent the tax credit from being applied?

Thanks!

 

[“Alcedo” Kona Eugene]

We purchased ours in Sept. 2020 and got the credit, and I don’t think it matters where you buy it, as long as your accountant (if you use one) handles the credit properly. I sent the forms to the accountant, in fact!

 

[Mosh1]

I bought 2022 Kona EV on Aug 26, 2021. In doing my USA income tax on Turbo Tax (TT), the car didn't pop up. I manually entered all the data (including the VIN) and the form filled in for $7500 credit. However, at the end of the TT work I got a TT notice to NOT file the electronic or paper version until I get an email back from TT regarding whether the IRS will recognize the car as eligible for the credit. At the time I bought the car the dealer said I would be eligible - but, I wouldn't be the first time a dealer lied or honestly didn't know.

 

[“Alcedo” Kona Eugene]

TT just may not know the reality. In 2021, the Hyundai csrs were still eligible.

https://www.cars.com/articles/which-electric-cars-are-still-eligible-for-the-7500-federal-tax-credit-429824/

 

[ELPTXJC]

So how do you know if it's available NOW? It'd SUCK to make a purchase based on the assumption you'd get a credit, and then you don't. Unfortunately, when I bought the 2021 Tesla M3 LR I didn't get a penny, but I knew that in advance. The good news is I still made a $3,500+ profit when I recently sold it, including all taxes, and even a 240V outlet installation at my house. Didn't want to deal with all the current and potential issues, plus the lack of superchargers where we live. So will buy a Kona N now, and move to another EV (Hyundai this time) after that in a few years. I have never seen a Kona EV here, so maybe they're not even available. Dealer only got an Ionic5, I think. But want to wait until they become more reliable, and more charging infrastructure in place.

 

[Bebop]

Federal Tax Credits for Electric and Plug-in Hybrid Cars

Save up to $7,500 on qualifying vehicles!

www.fueleconomy.gov

 

[Kona57]

I bought mine in November of 2021 in CA and at the time of purchase, the $7500 was still available.

 

[gavine]

The dealer should know, I would think. It’s kind of important, right?