The Chevrolet Silverado EV doesn’t qualify for the 2024 federal tax credit, so GM is stepping up and offering the same amount off as a discount.
With the new electric vehicle federal tax credit rules for 2024 capping eligibility at $80,000 MSRP and introducing new conditions for where battery minerals are sourced and processed, many vehicles, even ones built in the US that previously qualified, no longer met the requirements. At the start of 2024, GM announced that it would cover the lost federal tax credit for models that became ineligible by offering its own incentive program through what it calls the Ultium Promise Bonus.
In June, CarsDirect said it obtained a bulletin sent to dealers that said they would be paid $2,500 for each electric Silverado work truck they sold, up from $1,000 before that date. This kind of manufacturer-to-dealer deal is not made public, but it is said to last until January 2, 2025. Get the best news, reviews, columns, and more delivered straight to your inbox. Sign up For more information, read ourPrivacy Policy and Terms of Use.
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