Treading Water – Awaiting New Program Implementation
The data for April have been posted, a low number of 51 rebates. We are in a holding pattern at this point as we await the particulars of the implementation of changes mandated in Public Act 22-25 (a.k.a. SB-4). Rebates declined from 114 in March. There were no income-limited Rebate+ incentives awarded.
During these supply-constrained times, the rebates by model often fluctuate and that was the case in April with the large decline in the RAV4 Prime from 42 to 8. (Note: the numbers in the chart below do not tie back to the total. That is because there are slightly different numbers in the Tableau graphic on the CHEAPR website than the accompanying spreadsheet.) Given that the RAV4 Prime has been so dominant, it actually tilted the balance to a slightly higher number of BEVs, driven by a relatively strong number for the Nissan Leaf and signs of life for the Chevy Bolt and Kia EV6.
Of course, the new legislation is expected to dramatically change things. There are specifics that DEEP has to decide, as well as implementation logistics to be developed. There is a CHEAPR board meeting in a few weeks and we will report on any specific announcements made at that time. Our review of the legislation can be found here.