How close is Toyota to 200,000 sales of Plug_ins?

Discussion in 'Prime Main Forum (2017-Current)' started by wjtracy, Dec 2, 2020.

  1. wjtracy

    wjtracy Senior Member

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    Do we have a recent count for how many more plug-ins Toyota can sell for the $7500 Fed tax credit?
     
  2. Salamander_King

    Salamander_King Senior Member

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    According to this site: Federal EV Tax Credit Phase Out Tracker By Automaker: EVAdoption
    Toyota Motor Corporation has sold 127,593 up to June 2020. And 72,407 remaining.

    From this site: Toyota Prius Plug-in hybrid US car sales figures
    Prius Prime was sold 19.951 in 2017, 27.595 in 2018, and 15.705 in 2019. Not sure if this number is just for the US or worldwide. Either way, 2020 sales should be similar, so maybe at most ~10K more in the second half of 2020. That makes roughly 60K still remaining for 2021 and beyond. I did not look up the Rav4 Prime sales but that number should be negligibly small at present.
     
    #2 Salamander_King, Dec 2, 2020
    Last edited: Dec 2, 2020
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  3. mr88cet

    mr88cet Senior Member

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    Maybe Biden will be able to extend this?
     
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  4. fuzzy1

    fuzzy1 Senior Member

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    Note also that the credit doesn't magically end at exactly the 200,000th vehicle. You'll have a bit of grace period to make your purchase, somewhere between 3 and 6 months after the magic number is reached.

    As I recall from watching the Tesla and GM phaseouts, the credit remains available to all buyers that entire calendar quarter. And for bureaucratic accounting and advance legal notice reasons, it remains available for the next quarter too.

    For example, the pattern appears to be that if the 200,000th car were to be sold on or about December 31, then the IRS would take notice sometime in January or February when sales reports come in, that the cap has been reached. So they put out a legal notice that the full credit ends on March 31, and the 50% phaseout starts April 1.

    But if the 200,000th sale happened on or about January 1, then the IRS would see that the cap wasn't reached in the 4th quarter. The next time they check is after the 1st quarter (Jan-Mar) reports are processed in April or May, see the cap is reached, and put out legal notice that the full credit ends June 30, 50% phaseout starts July 1.

    With Toyota planning only 5,000 RAV4 Prime units for 2020 in the U.S. this year, and 20,000 next year, It seems likely that Toyota's full credit will last a ways into 2022.
     
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  5. Washingtonian

    Washingtonian Active Member

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    The OP is asking about the $7500 credit. The Prius Prime doesn't qualify for that at 25 EV miles so it shouldn't make any difference how many have been sold. I am assuming the only Toyota sold in the U.S. that will qualify is the RAV4 Prime, presently selling in miniscule numbers.
     
  6. Trollbait

    Trollbait It's a D&D thing

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    The federal tax credit is for 200k plug ins sold, plus the phase out. The amount depends on the battery's total capacity; maxing out at $7500 for a 16kWh pack. Even though the Prius Prime doesn't get the full $7500 credit, each one sold counts towards that 200k trigger to the phase out.
     
  7. fuzzy1

    fuzzy1 Senior Member

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    According to the IRS, Prius Prime qualifies for $4502 worth of this credit:

    IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit

    upload_2020-12-2_23-4-20.png


    Perhaps you confused this issue with Washington State's plug-in sales tax exemption, for which the Prius Prime falls a bit short of the required EV range of 30 miles?

    New sales and use tax exemptions for ‘green’ vehicles begin Aug. 1 | Washington Department of Revenue
     
  8. Salamander_King

    Salamander_King Senior Member

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    Even though the Prius Prime does not get max allowed $7500 credit, it does count toward the 200,000 limits as mentioned by @Trollbait. To date, the only cars Toyota sold that received a full $7500 credit were the older Rav4 EV and the new Rav4 Prime, but the remaining numbers of potentially max $7500 credits are reduced by sales of PiP and PP mostly.
     
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  9. Washingtonian

    Washingtonian Active Member

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    Thanks for the clarification. I knew about and was disappointed in the Washington State policy, as my car usually gets more than 30 miles EV in the Summer and now the policy has now changed to where they penalize you for driving a hybrid or EV.
     
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  10. wjtracy

    wjtracy Senior Member

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    Thanks a million.
    I used to be one of the stat numbers people around here, but lost my mojo.
    RAV4P rolled out slower than expected, but next year should increase.
     
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  11. wjtracy

    wjtracy Senior Member

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    Yeah I gave up on keeping track of *state* tax credit incentives are they are always changing.

    In the past, I tried to be the master of PiP state rebates, and gave up after that, partially because PriusChat changed to disallow updating old posts. But also Pip was more unique so there was no way to get that PiP-specific info.

    Prime is more like all other 8-9 kwhr PHEV. But there might be merit to keeping track here of states where Prime is treated differently, and it sounds like WA had a "bug up their butt" on PPrime.
     
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