The question of the hour is, when is an SUV not an SUV? If you are Cadillac, the answer can make a significant difference to customers.
Quick — what is an SUV? The question is of vital importance because the new federal tax credit for electric cars sets the maximum sales price for cars and wagons at $55,000 and $80,000 for SUVs.
If you have ever wondered why cars and trucks seem to be getting bigger and heavier every year, it is because of the “footprint rule.” If a manufacturer can’t comply with the tougher emissions regulations that apply to efficient passenger vehicles like the Chevy Cruze or Dodge Dart, just stop making them and focus on manufacturing Chevy Suburbans or RAM 1500 Big Horn trucks instead. Oh, and one more thing — those bigger vehicles haveEverybody wins — except the environment, of course.
So imagine the consternation at Cadillac when they discovered Treasury and the IRS want to classify the Lyriq as a passenger car, not an SUV! The car starts at $62,990. If it’s an SUV, it is eligible for the full federal tax credit . If it’s a passenger car, Lyriq buyers will get nothing from Uncle Sugar. Now, Lyriq customers are not destitute. It can be argued that they don’t need any help buying a car, electric or otherwise.
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