The U.S. Treasury’s updated guidance on the federal electric vehicle (EV) tax credit has officially taken effect, as of January 1. With some of Tesla’s vehicles losing access to the credit in 2024, one Model 3 configuration is currently looking more appealing than ever. TheTesla Model 3...
Tesla's Model 3 Rear-Wheel Drive and Model 3 Long Range vehicles will no longer qualify for the federal government's full $7,500 tax credit for eligible EV purchases starting next year. TheEV giantannounced on its website that starting Jan. 1, 2024, the tax credit for the two variants ...
Electric vehicles (EVs) have had federal incentives for more than a decade. The Internal Revenue Service (IRS) previously administered a $7,500 credit that applied to hundreds of thousands of EV buyers. With the introduction of the Inflation Reduction Act, the IRS expanded access to the tax b...
Tesla Model 3 (RWD only) (Image credit: Tom's Guide) Tesla was the first automaker to lose tax credit eligibility, based on the old sales caps. But the rules have changed, it means you can pick up some of its cars for a slightly lower price. However the $55K price cap means the...
Jerryr Member Dec 5, 2022 199 185 Florida Sep 16, 2023 #544 RaveDave69420 said: Hi Everyone, I ordered a Tesla Model Y in April of 2021, and at the time, I didn't qualify for the Federal Tax Credit since Tesla already sold their first 200,000 vehicles, which were the ...
A federal tax credit funded through the Inflation Reduction Act can currently shave up to $7,500 off the price of Tesla’s Model 3, but that’s about to drop in half. The tax credit will fall to $3,750 by January 1st, 2024 for the Model 3 Rear-Wheel Drive and Model 3 Long Ra...
Electric Vehicles that Qualify for the Federal Tax Credit 2023 Tesla Model Y $7,500 2022-2023Chrysler Pacifica Hybrid* 2022-2023Ford F-150 Lightning 2022-2023Lincoln Aviator Grand Touring* 2022-2023Chevrolet Bolt EV and Bolt EUV 2023-2024 Cadillac Lyriq ...
In late 2022, the Tesla Model Y Long Range started at $67,440. Today, the same electric crossover runs for $50,630 or $43,130 with the now point-of-sale tax credit (certain retail locations offer the Model Y Long Range for $45,730 or $38,230 with the credit). For the consumer...
In contrast, the other Model 3 trims qualify for up to $7,500. The Model 3 also has Supercharger compatibility, which means it can recharge at the company’s fast-growing network. To learn more, research the 2023 Tesla Model 3 2022-2023 Tesla Model Y Maximum credit: $7,500 Buyers ...
The federal EV tax credit is worth up to $7,500 for qualifying new electric vehicles and $4,000 for qualifying used electric vehicles.