Pub. 20 2021-2022 Issue 3

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S I S S U E 3 | 2 0 2 1 22 new jersey auto retailer An Update On The Charge Up New Jersey EV Incentive Program BY MAGDALENA PADILLA The second phase of Charge Up New Jersey, the state’s electric vehicle (EV) incentive program, was launched July 6, 2021, with $30 million of funding, in another step toward Governor Murphy’s goal of 330,000 EVs on New Jersey roads by 2025. In contrast to the first phase of the Charge Up New Jersey Program, whose $30 million incentives were mailed directly to consumers as a post-purchase incentive, the incentives in the second phase were provided by participating dealerships at the point of sale. On Sept. 15, 2021, less than 10 weeks after launching, the second phase of the program was paused. Announcing the expected depletion of program funds, the Charge Up New Jersey Program administrators advised on the program website that: The Charge Up New Jersey Program has been successful for the second year in a row, with allocated funding expected to dwindle by the end of the week. The deadline to order, purchase, or lease an eligible electric vehicle was 9 p.m. on Wednesday, Sept. 15, 2021. Dealerships had until Oct. 15, 2021, to submit incentive applications for eligible vehicles. The cutoff date ensured all eligible customers due an incentive had the opportunity to have their incentive reserved and applied at the point of sale once the vehicle was delivered. In this article, we provide a brief snapshot of the second phase of the Charge Up New Jersey Program based on the data available on the Charge Up New Jersey website at the time of publication. While the website indicates the last update was made on September 8, 2021, the data is limited to sales activity for July. There were 696 EVs incentivized in July 2021. Of those, 608 were battery EVs and 88 were plug-in hybrid vehicles. The 696 EVs consisted of 21 makes and models. According to the Charge Up New Jersey program administrator, Tesla is not included in this initial data because the data ref lects fully completed transactions that have applications fully submitted and approved. Since the entirety of the transaction needed to be completed on or after July 6, 2021, many Teslas ordered were not delivered for sale within July. As a result, the data for Tesla lags due to production and delivery times. Applications pending or currently under review are also not ref lected in the vehicle statistic dashboard. The 21 makes and models, with their corresponding total rebate amounts, are as follows: Vehicle Makes and Models Sum of Number of Rebates Sum of Total Rebate Amount BMW i3 1 $ 2,000 BMW i3 with Rex 1 $ 2,000 Chevrolet Bolt 138 $ 690,000 Chevrolet Bolt EUV 16 $ 80,000 Ford Mustang Mach-E California Route 1 14 $ 28,000 Ford Mustang Mach-E Premium 32 $ 64,000 Ford Mustang Mach-E Select 77 $ 211,000 Hyundai Ioniq Electric 52 $ 221,000 Hyundai Ioniq PHEV 10 $ 7,250 Hyundai Kona Electric 92 $ 460,000 Hyundai Kona Electric Ultimate 15 $ 30,000 Kia Niro Electric 25 $ 122,000 MINI Cooper SE Hardtop 4 $ 11,400 Mitsubishi Outlander PHEV 1 $ 550 Nissan Leaf 3 $ 11,175 Nissan Leaf Plus 14 $70,000 Toyota Prius Prime 7 $ 4,375 Toyota Rav4 Prime 70 $ 73,500 Volkswagen ID.4 56 $ 280,000 Volkswagen ID.4 Pro S 62 $310,000 Volkswagen ID.4 Pro S w/Gradient Package 6 $ 12,000 Grand Total 696 $ 2,690,250 The Number of Incentives per Month 88 July The stacked bar chart displays the number of incentives awarded by month and vehicle category. Vehicle Category 608 2021 BEV PHEV