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[ad_1] Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000. Now, there's just one: The Mitsubishi Mirage. And even the Mirage appears headed for the scrap yard. At a time when Americans increasingly want pricey SUVs and trucks rather than small cars, the Mirage remains the lone new vehicle whose average sale price is under 20 grand — a figure that once marked a kind of unofficial threshold of affordability. With prices — new and used — having soared since the pandemic, $20,000 is no longer much of a starting point for a new car.  This current version of the Mirage, which reached U.S. dealerships a decade ago, sold for an average of $19,205 last month, according to  data  from Cox Automotive. (Though a few other new models have starting prices under $20,000, their actual purchase prices, with options and shipping, exceed that figure.) This current version of the Mit...

[ad_1] The electric vehicle tax credit just got a little bit more complicated with the announcement of a highly anticipated proposal which would apply to the battery components of eligible EVs. Under the proposed rule, EV manufacturers must certify each eligible vehicle meets key battery sourcing and manufacturing requirements which were laid out in the text of the Inflation Reduction Act. Those requirements apply to a $7,500 tax credit.  President Biden signed the act into law in August of 2022, but the Treasury Department  delayed the battery requirement portion of the tax credit ahead of 2023. Under the proposed guidance, batteries for EVs must meet a "critical mineral requirement" to be eligible for $3,750 of the tax credit. For those applying for the tax credit on a vehicle purchased in 2023, 40% of the minerals contained in the vehicle's battery must have been extracted or processed in the U.S. or in a nation that ...

[ad_1] Two US Senators have slammed Elon Musk-run Tesla for user privacy violation after reports surfaced that its employees shared video footage captured by its customers` vehicles of car crashes, road rage incidents, and other potentially embarrassing clips. Democrats Ed Markey (D-MA) and Richard Blumenthal (D-CT) accused the electric car maker of showing "willful disregard" for its customers` privacy, after a Reuters report raised "serious questions about Tesla`s management practices." Also read:  2023 Kia EV6 Electric Car Bookings Re-Open In India, Prices Start At Rs 60.95 Lakh "According to an alarming new press report, Tesla employees have shared private photos and videos captured by cameras in Tesla customers` vehicles. Although vehicle cameras have the potential to improve safety, these features do not need to come at the expense of consumer privacy," they wrote to Tesla. Tesla vehicles capture huge amounts of consumer data, includi...

[ad_1] Expert analyzes the rise of more affordable electric vehicles - CBS News Watch CBS News Tom Narayan, the lead equity analyst for Global Autos at RBC Capital Markets, joins CBS News' Lilia Luciano and Tony Dokoupil to discuss why automakers are rolling out more electric vehicles and who is eligible for tax credits connected to their purchase. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/expert-analyzes-the-rise-of-more-affordable-electric-vehicles/?feed_id=294106&_unique_id=660370ed81636

[ad_1] Biden administration officials announced a significant step Wednesday in moving the U.S. toward a more expansive and cohesive network of EV charging stations. Part of the move includes a major concession from EV market  leader Tesla, which owns and operates an extensive network of proprietary "superchargers" for its cars. But now, White House infrastructure coordinator Mitch Landrieu says the Elon Musk-led company has agreed to open part of its charging network to non-Tesla vehicles.   "These recent and new commitments will make more public chargers available for all EVs," Landrieu said Tuesday on a background call with reporters. "With announcements like today's and the overall growth we're seeing, it's clear that this administration is making incredible progress towards building our electric future."  Some $7.5 billion from the Infrastructure Investment and Jobs Act will be spent on bu...

[ad_1] Mahindra Thar.e EV Concept teaser reveals the badge of the new electric vehicle along with a few other details of the car to be showcased by the Indian automaker on August 15. [ad_2] Source link https://worldnews2023.com/business/mahindra-thar-e-ev-concept-suv-to-make-global-debut-on-august-15/?feed_id=162058&_unique_id=6549559dee608