Automotive Manufacturing
With the rapid adoption of electric vehicles and supply chain automation, the automotive manufacturing industry has changed drastically. Automotive suppliers and distributors must rethink their business models and implement technology advancements to thrive in this new market. Offering emissions and reduced fuel economy, many electric vehicle manufacturers are on the path to global growth – with sales forecasted to substantially over the next few years.
Withum’s industry experts are ahead of the curve to position your company to remain competitive amongst the current and future challenges you may face. For needs such as financial reporting and preparation for going public, to hybrid tax credit rewards and automotive consulting, we will serve as your trusted advisor to the last mile.
Who We Help
- Commercial Auto Manufacturers and Suppliers
- Battery Component Companies
- Technology Systems
- Luxury Vehicles
Automotive Manufacturing Industry Accounting and Advisory Services
Insights
Steps To Prepare for the 2022 R&E Capitalization Requirement
A new and significant deduction limitation for research and experimental (R&E) expenses takes effect in 2022. The ability to expense R&E spending, coupled with the research and development (R&D) tax […]
Is It Time for Businesses To Invest in Electric Vehicles?
New Section 45W Credit for Qualified Commercial Clean Vehicles Is now the time to replace gas powered vehicles for electric vehicles? For vehicles acquired after 2022, the Inflation Reduction Act […]
Democrats’ Bill Would Allow Auto Dealers to Claim Clean Vehicle Tax Credits Starting in 2024
The Inflation Reduction Act of 2022 signed into law by President Biden on August 16, 2022 includes significant changes related to electric vehicle tax credits. The Act not only extends […]
Contact Us
For more information or to discuss your business needs, contact Withum’s Automotive Manufacturing Services Team.
