Tesla
Tesla website starts showing after Federal tax credit vehicle prices
Electric vehicle (EV) maker Tesla has made a tiny but effective change on its website to show “after federal tax credit” prices alongside purchase prices in the U.S.
The change has been spotted by Tesla enthusiast Sawyer Merritt for the Tesla Model Y order page. The screenshot below shows it in action but the outcome brings more transparency for the buyer.
Internal Revenue Reserve (IRS) last year revised guidelines for new energy vehicle component resourcing. A vehicle seller must abide by these guidelines to offer tax incentives on new vehicles. There’s also a vehicle MSRP applied to the eligible vehicles which should not exceed at the time of the sale.
Tesla currently has five models eligible for the $7,500 rebate including Model 3 Performance, 2024 Model Y RWD, Model Y Long Range, Model Y Performance, and Model X Dual Motor.
As of February 5, 2024, Tesla has not listed the Upgraded Tesla Model 3 Performance version which may come later on. The RWD and Long Range Model 3 on the other hand lost eligibility starting this year.
Except for Model 3 Performance ($55,000 MSRP limit), all of the other eligible EVs have a $80,000 MSRP cap.
Customers also need to understand a few things to qualify for a tax rebate. This includes that the vehicle must be purchased for its use and not resale.
Also, the customer-modified adjusted gross income (AGI) should not exceed:
- $300,000 for married couples in a joint filing
- $225,000 for heads of households
- $150,000 for all other filers
(source – Tesla)