Ford’s F-150 Lightning means tough choices for buyers seeking EV tax credits
Only the cheapest trucks are eligible. Will that sway buyers?Americans love a Ford pickup truck; it’s one of the few constants of the car business. So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 in tax breaks laid out by the US Inflation Reduction Act. Dozens of other electric cars and trucks didn't make the cut, either because they aren’t manufactured in the US or don’t use American parts and pieces.
“Honestly, I’m not even sure you can order the lower-end models at the moment,” said Zach Westrum, owner of Granger Motors, a Ford dealership near Des Moines, Iowa. “We’re about to find out very soon if these are just a second car for an affluent person or can become a primary car for a regular person.”
At the moment, Ford doesn’t have much incentive to stamp out more affordable trucks; its EV business is still grinding along well below profitability. What’s more, the lack of tax breaks may not throttle demand much. Truck buyers and EV buyers are both relatively affluent demographics and the Lightning is parked right in the middle of that Venn diagram.
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