2024 Alfa Romeo Tonale Pricing Revealed: Here’s How You Can Take Advantage of the $7,500 Tax Credit

There's a catch, since the vehicle's not assembled in North America

2024 Alfa Romeo Tonale
(Images: Stellantis)

Pre-orders for the 2024 Alfa Romeo Tonale open Wednesday.

A couple months ago, we learned that Alfa’s latest crossover would arrive on our shores as a PHEV, eschewing a 2.0-liter turbo option. The automaker released official pricing for the PHEV model Wednesday, kicking off the range at $44,590 for the entry-level Sprint. The pre-ordering process that opens up today, however, only applies to the $46,590 Ti and the $49,090 Veloce (the base model will arrive later in Q1 2023).

Regardless of trim level, the Alfa Romeo Tonale offers up the same powertrain and output. The 1.3-liter turbocharged engine combines with a rear-mounted electric motor to deliver 285 horsepower and 350 lb-ft of torque, according to manufacturer estimates. Thanks to a 15.5-kWh battery pack, you should be able to drive 30+ miles on electricity alone.

Can I get the $7,500 EV tax credit?

As of January 1, the rules have substantially changed for taking advantage of the federal tax credit for new electric vehicles. If you purchase (or finance) the Alfa Romeo Tonale, you will not be able to claim a tax credit, since the vehicle undergoes final assembly in Italy. Unless Alfa Romeo dealers put any money on the hood through incentives, the MSRP is what you’ll have to pay.

The IRS lists vehicles that do qualify for the $7,500 tax credit on its website.

However, the automaker notes those folks who lease a Tonale can take advantage of the tax credit. At least, they can to an extent.

According to a company spokesperson:

“Similar to the practice already in place, we are expecting our close lending partners to pass along a Capitalized Cost Reduction benefit on a lease of qualifying EVs for the amount of the Commercial Clean Vehicle Tax Credit. The leasing benefit will provide an effective and immediate access to the Credits to continue our growth in sales of electric vehicles.”

Under the Commercial Clean Vehicle Credit, businesses can claim a $7,500 tax credit for vehicles with a gross vehicle weight rating (GVWR) of 14,000 pounds or less, with at least a 7-kWh battery. The “effective and immediate access” to the credit could make for more attractive lease deals, although you’ll have to weigh the terms and financial benefits or drawbacks versus buying a Tonale outright.

2024 Alfa Romeo Tonale

More info coming soon

With this model, Alfa Romeo hopes to break into a ferociously competitive segment later this quarter. We’ll offer our driving impressions of the brand’s latest model when we get to test it out in a few months’ time, so stay tuned!