Latest news with #Malmgren
CNBC
10-07-2025
- Automotive
- CNBC
'YOLO'-buying EVs: As $7,500 tax credit ends, consumers may rush to cash in. Here's how to get a good deal
President Donald Trump's signature on his so-called "big beautiful bill" was a death blow for tax credits that lowered the cost of electric vehicles. Those tax credits — worth up to $7,500 and $4,000 for purchases of new and used EVs, respectively — won't be available after Sept. 30. Another tax break that's ending lets dealers pass along savings on EV leases. The credits were supposed to last for another seven years, through 2032. Analysts think the abrupt end to these federal subsidies will trigger a rush by consumers to buy or lease an EV in coming months. "This is going to be the summer of the EV," Ingrid Malmgren, senior policy director at Plug In America, a nonprofit advocating for a quicker transition to electric cars, previously told CNBC. Automakers have certainly taken notice. Tesla, the nation's largest EV maker, has taken to e-mail blasts and social media to spread the word that the federal tax credits are soon disappearing. "If there ever was a time to yolo your car purchase, it's now," the carmaker wrote Tuesday on X. "Order Soon to Get Your $7,500," read a separate Tesla newsletter e-mailed Tuesday. (Elon Musk, Tesla's CEO and former head of the so-called Department of Government Efficiency, spoke out against the legislation that axed the tax credits, lambasting the trillions of dollars it adds to the national debt.) This is a theme consumers will likely see through the summer, analysts said. Automakers and dealers will likely "promote a sense of urgency: 'Buy now, the EV incentive is going away,'" said Stephanie Valdez Streaty, director of industry insights at Cox Automotive. Another factor that may speed up purchases: Consumers must have the vehicle in their possession by Sept. 30, Malmgren said in an interview after the bill passed. More from Personal Finance:'Big beautiful bill' doesn't eliminate taxes on Social SecurityTax changes under Trump's 'big beautiful bill' — in one chartTrump's 'big beautiful bill' slashes CFPB funding In the eyes of the IRS, it won't be enough that consumers order one by Sept. 30 and take possession later, Malmgren said. They must be driving it off the lot by that deadline, she said. "Having this deadline so soon, just in a couple months, definitely lights a fire under people's butts," Malmgren said. "I expect that people who are kind of thinking about it or on the fence about it may take action now." Consumers will likely see some "really good" financial incentives like discounts or financing deals before Sept. 30, on top of the federal tax credits, Valdez Streaty said. For example, Ford extended a "complimentary home charger and standard installation offer" in the U.S. until Sept. 30, Stacey Ferreira, the automaker's director of U.S. sales strategy, wrote on the company's website Tuesday. The Inflation Reduction Act, which provided historic investments by the U.S. to fight climate change, created, extended or enhanced tax breaks (including the EV credit) meant to reduce the nation's planet-warming greenhouse gas emissions. EVs are "unambiguously better for the climate" than gasoline-powered cars, even when looking across the entire lifecycle of the vehicle, from manufacturing to recycling, according to researchers at the Massachusetts Institute of Technology. However, they're generally more expensive — a primary sticking point for would-be buyers, Valdez Streaty said. The average transaction price for a new EV in June was about $56,000, before any tax credits or incentives, according to Cox Automotive data. By comparison, the average price for all new vehicles was about $49,000, it said. Financial incentives have helped bring EVs closer to price parity with traditional cars, and indeed, there's hardly a price premium for some models, analysts said. The average EV buyer got financial incentives worth over $8,400 in June, in addition to federal tax credits, Valdez Streaty said. Consumers may also be eligible for subsidies offered by their state or electric utility, Malmgren said. The end of the federal EV tax credits is like "the training wheels are being taken off" of a nascent technology, Valdez Streaty said. "And those training wheels have helped balance and support EV adoption." While EVs are generally more expensive upfront, they may save consumers money over the long term, since recurring charges for maintenance and fuel are generally cheaper, experts said. Start soon: EV demand may surge if there's a rush to buy this summer, and prices may rise if supply is constrained, analysts said. It's in consumers' best interest to start sooner rather than later, they said. Ensure your dealer has registered with the IRS to provide a federal tax credit before buying, they said. Stack tax credits: "Do your research to figure out what credits you're eligible for," Valdez Streaty said. Consumers may be able to stack subsidies from the federal government, and their state and utility company, analysts said. "Stacking of EV credits" can be a strong value proposition, especially in areas where gasoline prices are high and electricity rates are low, Valdez Streaty said. Look at used EVs: "There are a ton of great deals on used EVs," Malmgren said. "If I were shopping for a vehicle right now, that's what I'd be looking at." Used EVs are comparable on price to used gasoline-powered cars, have far fewer maintenance issues, and have strong warranties on their batteries and drive train, she said. Consider a lease: Buying a new EV comes with various eligibility requirements for the driver and car to qualify for a tax credit. Leasing sidesteps many of them — opening up those federal subsidies to a wider audience, Malmgren said. Check the lease agreement before signing to ensure the price reflects the tax credit. Opt for upfront tax credit: Consumers should opt to get their tax break upfront as a discount instead of later when filing their annual tax return, Malmgren said. "Given all the uncertainty right now with the administration and IRS, I'd advise against doing the tax credit later," she said. "Plus you compound your value because that's money you don't finance."
Winnipeg Free Press
03-07-2025
- Automotive
- Winnipeg Free Press
What to know about buying electric vehicles after the federal tax incentives end
The massive tax and spending cut bill that Congress passed Thursday ends federal tax incentives for electric vehicles. Buyers have until Sept. 30 to qualify for the federal tax credits on EVs before they are terminated. But experts say there are still strong financial reasons to consider buying the vehicles even without those incentives. Before the bill passed, new electric vehicles came with a $7,500 federal tax credit, and used EVs included up to $4,000. Those incentives were originally designed to help make the vehicles more affordable. According to the latest data from Kelley Blue Book, the average purchase price of a new EV is roughly $9,000 higher in the United States than the average new gas-powered car. Used EVs on average cost $2,000 more than comparable gas cars. Those credits, paired with other incentives in many states, helped bridge that price gap. Without them, Senior Policy Director Ingrid Malmgren of the nonprofit advocacy group Plug In America said they will become unaffordable to many lower- and middle-income Americans. 'That's really disappointing because … they're just a really great way to reduce transportation energy cost burden,' Malmgren said. The up-front cost of an electric vehicle might be higher, but for those who can afford to consider the lifetime fuel and maintenance savings, Malmgren said the EV is still a good financial and environmental move in every state. EVs are typically still cheaper to own long-term That is because electric vehicles might not be cheaper to buy, but they are cheaper to drive. Malmgren said that even without the federal tax credits, an electric vehicle owner would still come out ahead. 'Quickly you'll end up paying less than a gas car because it costs much less to fuel, and it needs almost nothing for maintenance,' Malmgren said. Malmgren said the point at which an EV driver's savings on fuel and maintenance outweigh the higher initial price varies. It depends on the kind of car and how often they are driven, as well as the cost of gasoline and electricity in an area. She said EV owners pay less in upkeep because the cars typically have fewer moving parts to maintain and require less frequent servicing. There are multiple calculators online that pinpoint that moment based on some of those criteria. A 2020 study in the academic journal Joule found that the average EV in the U.S. charged with a typical mix of public and private chargers saves the driver $7,700 in fuel costs over a 15-year life span, compared to filling a car with gas. Savings vary by state. The study found that someone charging a car at home during off-peak hours, deemed as a best-case scenario, could save more than $14,000 over 15 years in Washington, where electricity is relatively affordable. The study said that an EV driver in any state exhibiting typical driving and charging behavior would save money on fuel costs. The study did not account for the car's purchase price, its maintenance cost or associated tax credits. EVs are still cleaner, even when they charge on coal power Manufacturing an electric vehicle typically creates more pollution than making a traditional gas-powered one. But experts say that driving an EV over the long-term is still less polluting than a gas car. Once they both drive about 15,000 miles (24,000 km) — slightly more than the average American drives in a year — the total pollution that has gone into making and driving each type of car has evened out, said Peter Slowik, U.S. Passenger Vehicles Lead for the International Council on Clean Transportation. Every mile after that widens the gap between the cleaner electric car and the more pollutive gas car. By the end of the car's life, emissions caused by the average EV are roughly half the average gas car, according to the U.S. Department of Energy. So unless you buy a new car each year, the EV is the cleaner choice, he said. 'They are a no-brainer,' Slowik said. 'Electric vehicles are already inherently so much more efficient.' Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. A 2023 analysis by Yale Climate Connections found that electric vehicles are responsible for less carbon dioxide pollution even in areas where the electricity used to charge them comes from coal. An EV in West Virginia, which is one of the most coal-reliant states, still pollutes 31% less than an equivalent gas-powered car, according to the analysis. Slowik said that is because electric cars are better at translating energy into forward motion. For example, the most popular EVs in the US, the Tesla Model Y and the Tesla Model 3, can drive more than 100 miles (161 km) on energy equivalent to what is provided by a gallon of gasoline. 'If you compare that to a 25-mpg gasoline vehicle, that's already four to five times more efficient,' Slowik said. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
CNN
20-04-2025
- Entertainment
- CNN
How a 24-hour livestream of moose became a Swedish TV sensation
AP — Before Swedish slow TV hit 'The Great Moose Migration' began airing Tuesday, Ulla Malmgren stocked up on coffee and prepared meals so she doesn't miss a moment of the 20-day, 24-hour event. 'Sleep? Forget it. I don't sleep,' she said. Malmgren, 62, isn't alone. The show, called ' Den stora älgvandringen ' in Swedish, and sometimes translated as 'The Great Elk Trek' in English, began in 2019 with nearly a million people watching. In 2024, the production hit 9 million viewers on SVT Play, the streaming platform for national broadcaster SVT. The livestream kicked off a week ahead of schedule due to warm weather and early moose movement. Malmgren was ready. From now until May 4, the livestream's remote cameras will capture dozens of moose as they swim across the Ångerman River, some 300 kilometers (187 miles) northwest of Stockholm, in the annual spring migration toward summer grazing pastures. Not much happens for hours at a time, and fans say that's the beauty of it. 'I feel relaxed, but at the same time I'm like, 'Oh, there's a moose. Oh, what if there's a moose? I can't go to the toilet!'' said William Garp Liljefors, 20, who has collected more than 150 moose plush toys since 2020. Slow TV success 'The Great Moose Migration' is part of a trend that began in 2009 with Norwegian public broadcaster NRK's minute-by-minute airing of a seven-hour train trip across the southern part of the country. The slow TV style of programming has spread, with productions in the United Kingdom, China and elsewhere. The central Dutch city of Utrecht, for example, installed a ' fish doorbell ' on a river lock that lets livestream viewers alert authorities to fish being held up as they migrate to spawning grounds. Annette Hill, a professor of media and communications at Jönköping University in Sweden, said slow TV has roots in reality television but lacks the staging and therefore feels more authentic for viewers. The productions allow the audience to relax and watch the journey unfold. SVT employees prepare for the latest edition of their 24-hour moose marathon. 'It became, in a strange way, gripping because nothing catastrophic is happening, nothing spectacular is happening,' she said. 'But something very beautiful is happening in that minute-by-minute moment.' As an expert and a fan of 'The Great Moose Migration,' Hill said the livestream helps her slow down her day by following the natural rhythms of spring. 'This is definitely a moment to have a calm, atmospheric setting in my own home, and I really appreciate it,' she said. Nature in your living room The calming effect extends to the crew, according to Johan Erhag, SVT's project manager for 'The Great Moose Migration.' 'Everyone who works with it goes down in their normal stress,' he said. The moose have walked the route for thousands of years, making it easy for the crew to know where to lay some 20,000 meters (almost 12 miles) of cable and position 26 remote cameras and seven night cameras. A drone is also used. The crew of up to 15 people works out of SVT's control room in Umeå, producing the show at a distance to avoid interfering with the migration. SVT won't say how much the production costs, but Erhag said it's cheap when accounting for the 506 hours of footage aired last year. Erhag said Swedes have always been fascinated by the roughly 300,000 moose roaming in their woods. The Scandinavian country's largest animal is known as 'King of the Forest.' A bull moose can reach 210 centimeters (6 feet 10 inches) at shoulder height and weigh 450 kilograms (992 pounds). Despite their size, the herbivores are typically shy and solitary. 'We actually don't see it very often. You often see it when you're out driving maybe once or twice in your life,' Erhag said. 'I think that's one thing why it has been so, so popular. And then you bring in the nature to everyone's living room.' Hanna Sandberg, 36, first began watching the show in 2019, though she didn't spot any moose. She tuned in the following year, finally saw some and got hooked. 'You can watch them and be a part of their natural habitat in a way that you could never be otherwise,' she said. Moose mega-fans After hours of showing an empty forest, a camera captures footage of a moose approaching the riverbank. Suddenly, slow TV turns urgent. The push alert hits SVT's app — 'Första älgarna i bild!' which translates to 'First moose on camera!' — as viewers worldwide tune in. The livestream's chat explodes as commenters type encouragement for the animal, now making its way into the water. 'I would actually like to be a little fly on the wall in every household that watches the moose migration. Because I think there is about a million people saying about the same thing: 'Go on! Yes, you can do it!'' Malmgren said. Mega-fans like Malmgren, who is in a Facebook group of 76,000-plus viewers, are committed to watching as many hours as possible. Some viewers on Tuesday posted photos of their dogs and cats staring at their televisions, enthralled by the moose on the screen. 'I was late to school because I saw moose and my teacher was like, 'What, you saw moose in the city?' And I was like, 'No, it's on the TV,'' Garp Liljefors said ahead of Tuesday's showing. Malmgren said friends and family have learned not to bother her when the moose are on the move. 'When someone asks me, 'What are you doing? Oh, never mind, it's the great migration,'' she said. 'They know.'
CNN
16-04-2025
- Entertainment
- CNN
How a 24-hour livestream of moose migrating became a Swedish TV sensation
Before Swedish slow TV hit 'The Great Moose Migration' began airing Tuesday, Ulla Malmgren stocked up on coffee and prepared meals so she doesn't miss a moment of the 20-day, 24-hour event. 'Sleep? Forget it. I don't sleep,' she said. Malmgren, 62, isn't alone. The show, called ' Den stora älgvandringen ' in Swedish, and sometimes translated as 'The Great Elk Trek' in English, began in 2019 with nearly a million people watching. In 2024, the production hit 9 million viewers on SVT Play, the streaming platform for national broadcaster SVT. The livestream kicked off a week ahead of schedule due to warm weather and early moose movement. Malmgren was ready. From now until May 4, the livestream's remote cameras will capture dozens of moose as they swim across the Ångerman River, some 300 kilometers (187 miles) northwest of Stockholm, in the annual spring migration toward summer grazing pastures. Not much happens for hours at a time, and fans say that's the beauty of it. 'I feel relaxed, but at the same time I'm like, 'Oh, there's a moose. Oh, what if there's a moose? I can't go to the toilet!'' said William Garp Liljefors, 20, who has collected more than 150 moose plush toys since 2020. 'The Great Moose Migration' is part of a trend that began in 2009 with Norwegian public broadcaster NRK's minute-by-minute airing of a seven-hour train trip across the southern part of the country. The slow TV style of programming has spread, with productions in the United Kingdom, China and elsewhere. The central Dutch city of Utrecht, for example, installed a ' fish doorbell' on a river lock that lets livestream viewers alert authorities to fish being held up as they migrate to spawning grounds. Annette Hill, a professor of media and communications at Jönköping University in Sweden, said slow TV has roots in reality television but lacks the staging and therefore feels more authentic for viewers. The productions allow the audience to relax and watch the journey unfold. 'It became, in a strange way, gripping because nothing catastrophic is happening, nothing spectacular is happening,' she said. 'But something very beautiful is happening in that minute-by-minute moment.' As an expert and a fan of 'The Great Moose Migration,' Hill said the livestream helps her slow down her day by following the natural rhythms of spring. 'This is definitely a moment to have a calm, atmospheric setting in my own home, and I really appreciate it,' she said. The calming effect extends to the crew, according to Johan Erhag, SVT's project manager for 'The Great Moose Migration.' 'Everyone who works with it goes down in their normal stress,' he said. The moose have walked the route for thousands of years, making it easy for the crew to know where to lay some 20,000 meters (almost 12 miles) of cable and position 26 remote cameras and seven night cameras. A drone is also used. The crew of up to 15 people works out of SVT's control room in Umeå, producing the show at a distance to avoid interfering with the migration. SVT won't say how much the production costs, but Erhag said it's cheap when accounting for the 506 hours of footage aired last year. Erhag said Swedes have always been fascinated by the roughly 300,000 moose roaming in their woods. The Scandinavian country's largest animal is known as 'King of the Forest.' A bull moose can reach 210 centimeters (6 feet 10 inches) at shoulder height and weigh 450 kilograms (992 pounds). Despite their size, the herbivores are typically shy and solitary. 'We actually don't see it very often. You often see it when you're out driving maybe once or twice in your life,' Erhag said. 'I think that's one thing why it has been so, so popular. And then you bring in the nature to everyone's living room.' Hanna Sandberg, 36, first began watching the show in 2019, though she didn't spot any moose. She tuned in the following year, finally saw some and got hooked. 'You can watch them and be a part of their natural habitat in a way that you could never be otherwise,' she said. After hours of showing an empty forest, a camera captures footage of a moose approaching the riverbank. Suddenly, slow TV turns urgent. The push alert hits SVT's app — 'Första älgarna i bild!' which translates to 'First moose on camera!' — as viewers worldwide tune in. The livestream's chat explodes as commenters type encouragement for the animal, now making its way into the water. 'I would actually like to be a little fly on the wall in every household that watches the moose migration. Because I think there is about a million people saying about the same thing: 'Go on! Yes, you can do it!'' Malmgren said. Mega-fans like Malmgren, who is in a Facebook group of 76,000-plus viewers, are committed to watching as many hours as possible. Some viewers on Tuesday posted photos of their dogs and cats staring at their televisions, enthralled by the moose on the screen. 'I was late to school because I saw moose and my teacher was like, 'What, you saw moose in the city?' And I was like, 'No, it's on the TV,'' Garp Liljefors said ahead of Tuesday's showing. Malmgren said friends and family have learned not to bother her when the moose are on the move. 'When someone asks me, 'What are you doing? Oh, never mind, it's the great migration,'' she said. 'They know.'
CNN
16-04-2025
- Entertainment
- CNN
How a 24-hour livestream of moose migrating became a Swedish TV sensation
Before Swedish slow TV hit 'The Great Moose Migration' began airing Tuesday, Ulla Malmgren stocked up on coffee and prepared meals so she doesn't miss a moment of the 20-day, 24-hour event. 'Sleep? Forget it. I don't sleep,' she said. Malmgren, 62, isn't alone. The show, called ' Den stora älgvandringen ' in Swedish, and sometimes translated as 'The Great Elk Trek' in English, began in 2019 with nearly a million people watching. In 2024, the production hit 9 million viewers on SVT Play, the streaming platform for national broadcaster SVT. The livestream kicked off a week ahead of schedule due to warm weather and early moose movement. Malmgren was ready. From now until May 4, the livestream's remote cameras will capture dozens of moose as they swim across the Ångerman River, some 300 kilometers (187 miles) northwest of Stockholm, in the annual spring migration toward summer grazing pastures. Not much happens for hours at a time, and fans say that's the beauty of it. 'I feel relaxed, but at the same time I'm like, 'Oh, there's a moose. Oh, what if there's a moose? I can't go to the toilet!'' said William Garp Liljefors, 20, who has collected more than 150 moose plush toys since 2020. 'The Great Moose Migration' is part of a trend that began in 2009 with Norwegian public broadcaster NRK's minute-by-minute airing of a seven-hour train trip across the southern part of the country. The slow TV style of programming has spread, with productions in the United Kingdom, China and elsewhere. The central Dutch city of Utrecht, for example, installed a ' fish doorbell' on a river lock that lets livestream viewers alert authorities to fish being held up as they migrate to spawning grounds. Annette Hill, a professor of media and communications at Jönköping University in Sweden, said slow TV has roots in reality television but lacks the staging and therefore feels more authentic for viewers. The productions allow the audience to relax and watch the journey unfold. 'It became, in a strange way, gripping because nothing catastrophic is happening, nothing spectacular is happening,' she said. 'But something very beautiful is happening in that minute-by-minute moment.' As an expert and a fan of 'The Great Moose Migration,' Hill said the livestream helps her slow down her day by following the natural rhythms of spring. 'This is definitely a moment to have a calm, atmospheric setting in my own home, and I really appreciate it,' she said. The calming effect extends to the crew, according to Johan Erhag, SVT's project manager for 'The Great Moose Migration.' 'Everyone who works with it goes down in their normal stress,' he said. The moose have walked the route for thousands of years, making it easy for the crew to know where to lay some 20,000 meters (almost 12 miles) of cable and position 26 remote cameras and seven night cameras. A drone is also used. The crew of up to 15 people works out of SVT's control room in Umeå, producing the show at a distance to avoid interfering with the migration. SVT won't say how much the production costs, but Erhag said it's cheap when accounting for the 506 hours of footage aired last year. Erhag said Swedes have always been fascinated by the roughly 300,000 moose roaming in their woods. The Scandinavian country's largest animal is known as 'King of the Forest.' A bull moose can reach 210 centimeters (6 feet 10 inches) at shoulder height and weigh 450 kilograms (992 pounds). Despite their size, the herbivores are typically shy and solitary. 'We actually don't see it very often. You often see it when you're out driving maybe once or twice in your life,' Erhag said. 'I think that's one thing why it has been so, so popular. And then you bring in the nature to everyone's living room.' Hanna Sandberg, 36, first began watching the show in 2019, though she didn't spot any moose. She tuned in the following year, finally saw some and got hooked. 'You can watch them and be a part of their natural habitat in a way that you could never be otherwise,' she said. After hours of showing an empty forest, a camera captures footage of a moose approaching the riverbank. Suddenly, slow TV turns urgent. The push alert hits SVT's app — 'Första älgarna i bild!' which translates to 'First moose on camera!' — as viewers worldwide tune in. The livestream's chat explodes as commenters type encouragement for the animal, now making its way into the water. 'I would actually like to be a little fly on the wall in every household that watches the moose migration. Because I think there is about a million people saying about the same thing: 'Go on! Yes, you can do it!'' Malmgren said. Mega-fans like Malmgren, who is in a Facebook group of 76,000-plus viewers, are committed to watching as many hours as possible. Some viewers on Tuesday posted photos of their dogs and cats staring at their televisions, enthralled by the moose on the screen. 'I was late to school because I saw moose and my teacher was like, 'What, you saw moose in the city?' And I was like, 'No, it's on the TV,'' Garp Liljefors said ahead of Tuesday's showing. Malmgren said friends and family have learned not to bother her when the moose are on the move. 'When someone asks me, 'What are you doing? Oh, never mind, it's the great migration,'' she said. 'They know.'
