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It’s a special Friday as many get ready for the holiday weekend. Today we talk about a big influx of IRS registrations, a car-smuggling Dealer, and a very special Christmas gift to one of our most committed community members.
Show Notes with links:
- Over 7,000 U.S. car dealers, about 40% of franchised car dealerships, have registered with the IRS to offer point-of-sale EV tax credits
- This enables those dealers to facilitate the transfer of federal tax credits for EV purchases, a key provision under the Inflation Reduction Act providing up to $7,500 for new EVs and $4,000 for used EVs, with certain conditions for consumer eligibility.
- Starting January 1, registered dealers can submit EV sales info to the IRS and receive credit transfers within 72 hours, simplifying the purchase process.
- "The Treasury Department has conducted extensive outreach to ensure dealers were aware of this provision in the Inflation Reduction Act and able to register," a Treasury official stated.
- Sign up your store at: https://www.irs.gov/credits-deductions/register-your-dealership-to-enable-credits-for-clean-vehicle-buyers
- A Japanese car dealer was caught attempting to smuggle a Lexus worth $69,029 to North Korean leader Kim Jong-un, violating international sanctions.
- The scheme involved misdeclaring the car's destination as Singapore, intending to reroute it to North Korea via Bangladesh but Japanese authorities intercepted the shipment, preventing the violation of trade laws and sanctions against North Korea.
- Kim Jong-un has a history of appearing in luxury foreign cars, suggesting ongoing smuggling operations despite international restrictions.
- In the 70s the North Korean government ordered 1,000 Volvos from Sweden, took delivery, and never paid.. The Swedish government is still trying to collect
- Kim Jong-un has made public appearances in a number of foreign luxury cars, including a Lexus LX and a Mercedes-Maybach GLS 600,
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Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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