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VW 2023 ID.4 EV Gets $7500 Fed Tax Credit
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Volkswagen said today that all MY23 ID.4 EV models that placed in service this year will be eligible for the full $7500 Federal Tax Credit. ID.4 has a MSRP of $38,995, plus delivery and dealer fees, with the dealer setting the actual selling price. Volkswagen appears to be at this time the only international automaker or offshore brand to have a full battery electric vehicle eligible for the full credit because of local sourcing and assembly.*
“This is great news for consumers in the U.S. because it expands the choice of truly affordable EVs,” said Pablo Di Si, President and CEO of Volkswagen Group of America. “This shows that we made the right decision to localize production of the ID.4 in Tennessee and invest even further in battery production, components and innovation.”
During the first quarter of 2023, the ID.4 was the fourth best-selling EV in the U.S. market. The ID.4 is on sale with two battery sizes and two powertrains. the ID.4 Standard model has a 62-kWh battery and an EPA-estimated range of 209 miles. The more expensive ID.4 Pro has an 82-kWh battery with 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 max of 295 horsepower, as well as all-wheel-drive capability, and have an EPA-estimated range of 255 miles.
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*Inevitable ID.4 Footnotes
The potential tax credit shown is for informational purposes only. This information does not constitute tax or legal advice. Any available credits apply only on the original purchase of a qualifying vehicle and are not available in a lease transaction. 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.