January 24, 2024: Reston, VA – In a shockingly good deal for electric vehicle enthusiasts, Volkswagen US has juiced up the appeal of its 2023 and soon-to-launch 2024 ID.4 models. These electrifying SUVs, starting at a base MSRP of $38,995 (before tax credits – INR 32.41 lakh), are now sparking more interest as they become eligible for the full $7,500 (INR 6.23 lakh) Federal Tax Credit in 2024.
This high-voltage news means the Volkswagen MY23 ID.4, equipped with SK On battery components, and the upcoming MY24 ID.4 models will enjoy the full tax credit bonanza, making these eco-friendly rides not only affordable but also fiercely competitive against traditional compact SUVs. However, potential buyers should note that the 2024 model’s eligibility is currently based on the battery supply forecast and might undergo changes.
Volkswagen’s commitment to local assembly and sourcing has paid off, as evidenced by fueleconomy.gov, making it the only foreign automaker with a full battery electric vehicle eligible for the complete Federal Tax credit. Starting in 2024, eligible customers can even apply this tax credit as a down payment at the point of sale through participating dealers, supercharging the affordability factor.
Since its launch, the ID.4 has been a hot seller, attracting new customers to both the Volkswagen brand and electric mobility. In 2023, the ID.4 ranked as the fifth best-selling EV in the U.S., with sales surging by a stunning 84% over the previous year.
Pablo Di Si, President and CEO of Volkswagen Group of America, couldn’t contain his enthusiasm. “This is fantastic news for U.S. consumers, expanding the spectrum of truly affordable EVs,” he said. “With the ID.4 already priced as one of the most budget-friendly electric SUVs on the market, the $7,500 Federal Tax Credit makes it an irresistible deal. Our decision to localize assembly in Tennessee and boost investment in battery production and innovation was spot-on. Every ID.4 sold not only supports thousands of American jobs but also propels us towards a carbon-neutral future.”
The 2023 ID.4 is currently available with two battery sizes and powertrains. The ID.4 Standard boasts a 62kWh battery and an EPA-estimated range of 209 miles, while the ID.4 Pro features an 82 kWh battery, offering an impressive 275-mile range. With a rear-wheel-drive setup and up to 295 horsepower in the AWD Pro models, the ID.4 is geared up to be a game-changer in the electric vehicle market.
