MSRP Limits by Vehicle Type
- SUVs, Pickup Trucks, and Vans: These vehicles must have an MSRP of $80,000 or less to qualify for the tax credit.
- Sedans, Hatchbacks, Wagons, and Other Vehicles: These vehicles must have an MSRP of $55,000 or less.
Determination of Vehicle Type
The classification of a vehicle as an SUV, pickup truck, van, or another type is determined by the information on the fuel economy label and as listed on FuelEconomy.gov. This classification is crucial for determining the applicable MSRP limit.
Impact on Eligibility
If a vehicle’s MSRP exceeds the applicable limit, it is not eligible for the New Clean Vehicle Credit. This means that expensive electric or hybrid vehicles beyond these limits, such as some luxury models, do not qualify for the tax credit.
In addition to MSRP limits, vehicles must also meet other requirements, such as being manufactured in North America, to be eligible for the tax credit.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-does-the-msrp-limit-affect-the-eligibility-of-different-vehicle-types/
