The Kia EV4 sedan, aiming to be an affordable EV, faces production hurdles as it will be built solely in South Korea. This decision complicates its pricing strategy due to a 25% tariff on imported vehicles, which may hinder its competitiveness against U.S.-made rivals. Additionally, the uncertainty surrounding the $7,500 federal tax incentive further complicates its market entry. Unlike traditional sales, leasing the EV4 might still allow consumers to access the tax credit, but existing loopholes may soon close, making it less likely for customers to find cost-effective options.
Vehicles imported to the United States from outside of North America face additional 25% tariffs... it may be tougher for Hyundai to match the price of U.S.-built rivals.
The EV4 was already going to be ineligible for the tax credit for people who purchase it... however, all EVs still qualify for the credit if they are leased.
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