Why is October so important? Federal tax credits on new and used EVs expire on September 30.
That means that, in just a few days, the $7500 tax credit on this Cadillac Vistiq disappears–assuming that our test car lost an option, though, as the credit applies to vehicles with an MSRP up to $80,000 and ours had a final sticker …
I've wondered why it took so long for some luxury car makers to start making EVs–especially Rolls-Royce.
An ultra-luxurious barge that silently and effortlessly wafts you along at 100 mph in mere seconds? Yeah, electric cars can do that.
Colin Wood said:I've wondered why it took so long for some luxury car makers to start making EVs–especially Rolls-Royce.
An ultra-luxurious barge that silently and effortlessly wafts you along at 100 mph in mere seconds? Yeah, electric cars can do that.
You would think so, but the hypercar market has flatly rejected EVs. Turns out that rich people want power in a way that is exclusive. A v12 is exclusive. You can get essentially the same powertrain smoothness out of a $30k EV.
After an overnight drive home from Pitt Race with Tom in the F-150 Lightning, I think I'm starting to understand the EV hype. Charging stops often didn't take longer than it took for us to use the bathroom / grab a meal, which was not what I expected. Definitely could see myself in one, sometime down the road.
In reply to theruleslawyer :
And that also went through my head: Is the Vistiq any smoother than an Ioniq 5, for example? If the answer is no, then what are you buying here? Prestige and features? (And, really, it’s whatever makes the customer happy.)
From what I read earlier today, EV numbers have been up the past two months. What will happen to those figures once the tax credits disappear on October 1? Will price cuts become necessary? And what will happen to nameplates like Cadillac that have so much invested in an EV lineup?
Guess we’ll all know more shortly.
This is going to be an interesting time because I could see myself getting an EV years from now. I test drove a 2026 BMW I5 (with the updates) and I sort of thought EVs make the perfect luxury barge for just driving around the streets. But as for now, my money will go towards supporting the weird choices that no one likes or cares about (manual sports cars/sporty cars in colors that aren't black, silver, white or grey).
In reply to David S. Wallens :
I think the used market will stay depressed for a while. I think MFR will try to boost EV sales in the states with incentives still on the table from the state level.
The lease loophole rebate deals will be DOA of course and residuals will be bad for a while, so I expect EV leases will be crappy for a while.
I think at the end of the year a few MFR might try to clear out some old EV models.
Toyota and Subaru are rolling out revised versions of their EV SUVs, at fairly competitive price points.. so those will find homes.. just not many of them.
theruleslawyer said:Colin Wood said:I've wondered why it took so long for some luxury car makers to start making EVs–especially Rolls-Royce.
An ultra-luxurious barge that silently and effortlessly wafts you along at 100 mph in mere seconds? Yeah, electric cars can do that.
You would think so, but the hypercar market has flatly rejected EVs. Turns out that rich people want power in a way that is exclusive. A v12 is exclusive. You can get essentially the same powertrain smoothness out of a $30k EV.
Hypercars are about drama. That's the purpose of V12s with exhausts that spit flames. You don't want that in your luxobarge. If the engineers at Cadillac had access to silent, smooth, high torque electric propulsion when they made my 1966, they would have definitely used it.
Note that some EV makers have had to sell cars without tax incentives in the past. When we bought our Model 3, it was sunsetting for Tesla so it was only 50%. GM also ran out of incentives on the Bolt and I suspect Nissan did as well. We'll definitely see a sales dip but I don't think it's going to totally crater the market because people are starting to understand what they do and don't bring to the table. We would definitely buy another as our primary vehicle.
23 speakers? Well, that's the Cadillac way, right? More is more.
Just looking at the list of cars eligible for the tax credit, and I forgot that the Dodge Charger was built in Canada.
For what it's worth, people are certainly buying these and the other EVs in Cadillac's lineup.
I see most of them stuck in the safe traffic I'm in when I'm traveling on I-4 to visit my parents.
honestly, it's about time the industry had to stand up for itself. There are a bunch of great EVs out there at increasingly manageable prices. At least now the haters will have less to whine about.
In reply to David S. Wallens :
You wrote: lease deals as low as $749 per month. (The details, of course: 24 months, $7479 due at signing and 25 cents per mile over 20,000 miles.)
Are you sure about the 25 cents per mile overage? If so, those are then the cheap miles!
$749 x 24 months = $17,976 in payments + $7,479 down = $25,455 total lease expense.
$25,455 divided by the 20,000 miles included = $1.27 per mile driven (prepaid.) The 25 cents per mile, postpaid, seems dirt cheap. At that price, another 20,000 miles would only cost $5,000 or 20% of the first miles?????
All I could think reading 23 speakers
In reply to John Welsh :
Yeah, here’s the screen shot.
I bought a Model Y Juniper back in May, put 7k miles on it in 3 months and sold it.
I have a list of things I really liked, and a list of things I really did not like.
I say that to say that at $43k (after rebate), I believe it was the best car for the money. At $50k, there are a few other options that I'd look at.
As a someone who is well documented as not a fan of EVs I don't think the tax credits are going to effect the market very much.
We are talking about maybe $200 a month difference. That wouldn't stop me from buying the car I want.
Germany dropped subsidies a while back. There was a drop in ev sales for a while, now they have caught up to what they were with subsidies. The EU does have some things that make it a little more EV friendly than the us, standardized charging plug, less urban spread, better mass transit & increased options with Chinese EV's.
So i would expect similar results with a bit longer to recover sales, unless something changes with Chinese imports. Like the Japanese during the malaise era China looks ready to become a dominant player in the global market if allowed. BYD is beating Tesla in just about every market its in. Reviews I have seen are good for it as well, so not the cheap Chinesium parts of the past. As a county that produces very little oil but a large percentage of the materials needed for EV batteries & motors it does make sense for them to be all in on the global EV transitions.
DjGreggieP said:
All I could think reading 23 speakers
Why not 24 speakers, right?
David S. Wallens said:From what I read earlier today, EV numbers have been up the past two months. What will happen to those figures once the tax credits disappear on October 1? Will price cuts become necessary?
I think the last two months and next few months are statistically irrelevant. A bunch of buyers from the next few months front loaded their purchases into the last couple months. Neither the recent spike not upcoming drop can be read as a trend. The real effects won't be visible until we'll into 2026.
Is it better then Lyriq? Cause the Lyriq remains one of my least favorite EVs I have driven.
And why GM choose to use the gear selector out of a forklift is beyond me.
Keith Tanner said:theruleslawyer said:Colin Wood said:I've wondered why it took so long for some luxury car makers to start making EVs–especially Rolls-Royce.
An ultra-luxurious barge that silently and effortlessly wafts you along at 100 mph in mere seconds? Yeah, electric cars can do that.
You would think so, but the hypercar market has flatly rejected EVs. Turns out that rich people want power in a way that is exclusive. A v12 is exclusive. You can get essentially the same powertrain smoothness out of a $30k EV.
Hypercars are about drama. That's the purpose of V12s with exhausts that spit flames. You don't want that in your luxobarge. If the engineers at Cadillac had access to silent, smooth, high torque electric propulsion when they made my 1966, they would have definitely used it.
Maybe. But people still buy mechanical watches into the $100k+ range despite quartz watches being objectively better. Exclusivity is a huge driver in luxury markets. Cadillac barely scratches the surface on luxury. Its still very much a mainstream brand. EV is probably a good move for them because they don't produce anything really very unique to start with. Rolls Royce, Maybach, etc would be a different question. Would the owner of those of those like to brand more about about having a powertrain that's probably lifted out of a i5 m60 or some nutso ICE engine? Especially as ICE engines get rarer in commodity cars. A gas engine is going to be a flex in a new car 10 years from now.
Driven5 said:David S. Wallens said:From what I read earlier today, EV numbers have been up the past two months. What will happen to those figures once the tax credits disappear on October 1? Will price cuts become necessary?
I think the last two months and next few months are statistically irrelevant. A bunch of buyers from the next few months front loaded their purchases into the last couple months. Neither the recent spike not upcoming drop can be read as a trend. The real effects won't be visible until we'll into 2026.
Probably. If I were interested and shopping for a EV I'd have bought one earlier this summer. TBH I think we'll get a lot of people holding off big purchases to see if Tariffs stick around long term. If the political climate changes at mid-terms and maybe EV incentives some back or removal just gets challenged in court. It'll awhile to normalize.
theruleslawyer said:Driven5 said:David S. Wallens said:From what I read earlier today, EV numbers have been up the past two months. What will happen to those figures once the tax credits disappear on October 1? Will price cuts become necessary?
I think the last two months and next few months are statistically irrelevant. A bunch of buyers from the next few months front loaded their purchases into the last couple months. Neither the recent spike not upcoming drop can be read as a trend. The real effects won't be visible until we'll into 2026.
Probably. If I were interested and shopping for a EV I'd have bought one earlier this summer. TBH I think we'll get a lot of people holding off big purchases to see if Tariffs stick around long term. If the political climate changes at mid-terms and maybe EV incentives some back or removal just gets challenged in court. It'll awhile to normalize.
The automotive tariffs were done under a different law then the other tariffs so they are not involved in the current court case that will be before the Supreme court
You'll need to log in to post.
