ice-capades Posted June 7, 2023 Share Posted June 7, 2023 (edited) Tesla Model 3 Vehicles Now Qualify for $7,500 Tax Credit A Model 3 starts at $40,240 and the price may fall to $25,240 https://www.foxbusiness.com/markets/tesla-model-3-vehicles-now-qualify-7500-tax-credit Tesla has made changes to its battery supply chain that bring some of its vehicles within the guidelines qualifying them for federal U.S. credits. Tesla's Model 3 vehicles now qualify which could lower its price to less than that of a Toyota Camry. The Biden administration on Tuesday confirmed that all Tesla Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits after two of the three versions were eligible for half the credits. New battery rules went into effect in April that lowered the credit of the Model 3 Standard Range Rear-Wheel Drive and Long Range All-Wheel Drive to $3,750. The government confirmed the change on its fueleconomy.gov website. A Model 3 starts at $40,240 and the price may fall to $25,240 when the $7,500 federal tax credit and another $7,500 from the California tax rebate kick in, depending on income and other requirements. Toyota's Camry is listed at $26,320 and higher. Edited June 7, 2023 by ice-capades Additional Content 1 Quote Link to comment Share on other sites More sharing options...
rperez817 Posted June 7, 2023 Share Posted June 7, 2023 Tesla's ability to rapidly scale and expand battery production in the U.S. makes it the biggest beneficiary of provisions in the Inflation Reduction Act that promote domestic battery manufacturing, far ahead of the other Big 3 U.S. automakers. The graph below shows tax credits expected for each company from 2023 to 2032. Quote Link to comment Share on other sites More sharing options...
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