The only EVs eligible for the tax credit are those assembled in North America. Another condition requires batteries be built with rare earth metals that are extracted or processed in a country where the U.S. has a free trade agreement.
The typical monthly payment hits a record of $712.
The average price paid for a new vehicle in the U.S. last month was the second-highest on record, behind only December 2021, when average transaction prices reached $47,202.
Electric vehicles and hybrids are becoming a coveted commodity as consumers turn practical about operating costs.
The Ford F-150 Lightning, which just started deliveries to customers in March and is sold out, was the third most-shopped EV and the seventh overall among electrified vehicles.
The trend continues to be much worse now than a year ago when prices were notably lower and incentives were higher.
Shopper interest in electric vehicles has increased to 66% since January, when gas prices started to rise.
ActivEngage managed messaging and customer engagement products are available through Cox Automotive Digital Retailing brands, including Dealer.com, Autotrader, Kelley Blue Book, and VinSolutions.
A survey projects and details what electric cars and trucks major companies are seeking for their future transportation needs.
Despite squeezed supply, the used-vehicle market has been playing a key role in the recovery of the automotive industry.
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