I don’t believe the program will be coming back at all for the foreseeable future. I have no information to corroborate that it will be returning at all.
As I said when I broke the news, I am the last person that wants to see this happen, but also agree that the state needs COVID-19 relief more than it needs cheap electric cars.
It sounds like we will be running near 24-hour hours at my Hyundai dealer partners to crank out as many as possible before tomorrow is over. I still have plenty of stock, and will have plenty of stock thru the deadline.
My understanding is that for a tesla, as long as it was ordered prior to 12/15 then that’s fine even if delivery occurs after. Assuming that to be the case, wondering if I decide to sell after a year (or at some point after I receive the rebate check), will they ask for money back…
Failure to Adhere to the Program Requirements
If a vehicle, for which an incentive payment was issued, is sold, returned, or traded in, or if a lease is transferred or assumed by another party prior to expiration of the minimum ownership period or lease agreement, the purchaser or lessee may be required to reimburse Charge Up New Jersey. The program administrator will follow specific procedures to enforce refunding an incentive payment where the applicant has since sold to another party or returned the vehicle to the dealer prior to the 36-month lease or ownership commitment.
All I was able to find was that Phase 1 was completed in Dec, due to reallocation of funds for covid relief and that a Phase 2 of the program is supposedly set to begin in July. Also talks of additional ev incentives involved in the Biden administration’s infrastructure bill?
I think its safe to say, you won’t see as strong of a deal on EVs going forward as Phase 2 is controlled by the dealer and they will essentially just price in the EV incentives while minimizing the pre-incentive discount.
As for when Phase 2 will be implemented, it originally was set to begin July 1st, 2021 and most of the NJ public utilities budget submission deadlines happened in March, so maybe they will make the July deadline but its anyones guess but the $30MM annual Clean EV program is definitely on the agenda and recommended in the 2022 NJ budget plan.
As for the Biden Federal EV incentives, I assume they will just expand the quota of EV cars sold per model which is only for purchase cars , not lease cars.
I actually expect dealer discounts to stay about the same as last time, at least through my partner dealer network.
GM might be another story because they’re so constrained on chip supply.
It didn’t take any dealer discount last time for these cars to be less than 50% the price of their gas equivalents, thanks to CHARGE UP NJ.
Dealers start jacking up the prices when demand exceeds supply. If I have a few hundred EVs in stock at sub-$100 payments, it really doesn’t matter if it’s a point-of-sale rebate or one you apply for afterwards yourself.
Last time, CHARGE UP NJ was new and many dealers didn’t know it was coming. This time, I will call every Hyundai dealership in NJ and tell them what to expect. The smart ones will stock up on EV inventory and just sell a lot of them, versus trying to squeeze money out of the customer for a “hot car”.
Yeah, I expect discounts to be similar even as point of sale. When I was getting my Bolt, all the dealers said what discount - you’ll get $5k from the state…