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Volkswagen Group of America said today that model year 2023 ID.4 compact SUVs with SK On battery components and model year 24 Volkswagen ID.4 models when released with SK On components placed in service in 2024 are eligible for the full $7500 Federal Tax Credit* on a purchase by a qualifying purchaser. Model year 2023 ID.4 vehicles with LG components do not qualify. During 2023, the ID.4 was the fifth best-selling EV in the US market.**
“This is great news for consumers in the US because it expands the choice of truly affordable EVs,” claimed Pablo Di Si, President and CEO of Volkswagen Group of America. “The ID.4 is already one of the lowest-priced electric SUVs on the market, and the $7500 Federal Tax Credit makes it even more attainable. This shows that we made the right decision to localize assembly of the ID.4 in Tennessee and invest even further in battery production, components and innovation. Every ID.4 sold supports thousands of American jobs and helps advance our goal of a carbon-neutral future.”
The 2023 ID.4 is on sale with two battery sizes and two powertrains, with a starting MSRP of $38,995 for the ID.4 Standard model that has a 62kWh battery and an EPA-estimated range of 209 miles. The ID.4 Pro continues with an 82 kWh battery that allows for an EPA-estimated range of 275 miles. A single permanent magnet synchronous motor powers the rear wheels and provides 201 horsepower. ID.4 AWD Pro models add an asynchronous motor to the front axle, resulting in an increase to a maximum of 295 horsepower, as well as all-wheel-drive capability, and have an EPA-estimated range of 255 miles.
As of now, Volkswagen appears to be the only offshore automaker that has a full battery electric vehicle that is eligible for the full Federal Tax credit because of non-unionized local assembly and sourcing. Starting in 2024, eligible customers may elect to apply the tax credit as a down payment on the purchase of an eligible EV at point of sale by transferring the credit to participating dealers.
*Potential Federal Tax Credit of up to $7500.
- Not all vehicles or customers will qualify. Only MY24 and MY23 ID.4 vehicles with SK components qualify.
- MY23 ID.4 vehicles with LG components do not qualify.
- See vehicle Monroney label (window sticker) for battery component manufacturer.
- Vehicle must be purchased and placed in-service in 2024.
- Tax credit applies only on the original purchase of a qualifying vehicle and is not available in a lease transaction. The tax credit referenced is for informational purposes only.
- This information does not constitute tax or legal advice.
- All persons considering use of available tax credits should consult a tax advisor to determine eligibility based on their specific tax situation.
- Tax credits are subject to various limitations not within Volkswagen’s control and are subject to change without notice.
- To apply tax credit as a down payment, purchaser must elect to transfer the entirety of the allowable credit and complete a buyer attestation and provide additional documentation to a participating dealer that has been approved by the IRS for Energy Credits Online.
**Inevitable Volkswagen Footnotes
- “VW”, “Volkswagen”, model names and the Volkswagen logo are registered trademarks of Volkswagen AG.
- This information and any vehicle specifications are preliminary and subject to change.
- Features and technical data apply to models offered in the US. They may differ in other countries.
- All prices provided are the Manufacturer’s Suggested Retail Price and exclude destination, taxes, title, accessories installation, other options and dealer charges. Dealer sets actual price.
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Some VW ID.4 EVs Qualify for Full Federal Tax Credit
Click for more voltswagens.
Volkswagen Group of America said today that model year 2023 ID.4 compact SUVs with SK On battery components and model year 24 Volkswagen ID.4 models when released with SK On components placed in service in 2024 are eligible for the full $7500 Federal Tax Credit* on a purchase by a qualifying purchaser. Model year 2023 ID.4 vehicles with LG components do not qualify. During 2023, the ID.4 was the fifth best-selling EV in the US market.**
“This is great news for consumers in the US because it expands the choice of truly affordable EVs,” claimed Pablo Di Si, President and CEO of Volkswagen Group of America. “The ID.4 is already one of the lowest-priced electric SUVs on the market, and the $7500 Federal Tax Credit makes it even more attainable. This shows that we made the right decision to localize assembly of the ID.4 in Tennessee and invest even further in battery production, components and innovation. Every ID.4 sold supports thousands of American jobs and helps advance our goal of a carbon-neutral future.”
The 2023 ID.4 is on sale with two battery sizes and two powertrains, with a starting MSRP of $38,995 for the ID.4 Standard model that has a 62kWh battery and an EPA-estimated range of 209 miles. The ID.4 Pro continues with an 82 kWh battery that allows for an EPA-estimated range of 275 miles. A single permanent magnet synchronous motor powers the rear wheels and provides 201 horsepower. ID.4 AWD Pro models add an asynchronous motor to the front axle, resulting in an increase to a maximum of 295 horsepower, as well as all-wheel-drive capability, and have an EPA-estimated range of 255 miles.
As of now, Volkswagen appears to be the only offshore automaker that has a full battery electric vehicle that is eligible for the full Federal Tax credit because of non-unionized local assembly and sourcing. Starting in 2024, eligible customers may elect to apply the tax credit as a down payment on the purchase of an eligible EV at point of sale by transferring the credit to participating dealers.
*Potential Federal Tax Credit of up to $7500.
**Inevitable Volkswagen Footnotes
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