Not necessarily. If they can sell more model Y AWD than Model 3 AWD, they will continue their current strategy.If the tax credit for RWD Model 3 goes away - Tesla will bring back LR AWD Model 3 to bear.
Tesla warns employees Model 3's cheapest trim could lose $7,500 tax credit
Tesla has reportedly warned employees that the base model Model 3 may no longer qualify for the $7,500 EV tax credit.www.teslarati.com
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Discussion: Model 3 Price reductions - Jan / April / Oct 2023 and all other pricing discussions
- Thread starter mpgxsvcd
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mgs333
Member
M3_Performante
Member
did you already sign contract and put down payment on the original agreed price ?
let us know how it goes
M3_Performante
Member
yeah thats crazy....$32400 for a brand new Tesla? wow....I may just have to go get another one
yeah thats crazy....$32400 for a brand new Tesla? wow....I may just have to go get another one
Um, I thought the Model 3 no longer qualified for the full 7500 tax credit. It's just the Model Y now from what I understand. Due to Model 3 battery coming from China. If I'm right, then that means the Model 3 only qualifies for $3,750 tax credit now.
OK, so I looked it up:
Seems like only the Model 3 Performance can still qualify.
Here's a list that's circulating online now (Tesla bolded by yours truly):
- Cadillac Lyriq (2023 and 2024 model years, MSRP $80,000 or below)
- Chevrolet Bolt (2022 and 2023 model years, MSRP $55,000 or below)
- Chevrolet Bolt EUV (2022 and 2023 model years, MSRP $55,000 or below)
- Chevrolet Blazer (2024 model year, MSRP $80,000 or below)
- Chevrolet Equinox (2024 model year, MSRP $80,000 or below)
- Chevrolet Silverado EV (2024 model year, MSRP $80,000 or below)
- Chrysler Pacifica PHEV (2022 and 2023 model years, MSRP $80,000 or below)
- Ford F-150 Lightning (2022 and 2023 model years, MSRP $80,000 or below)
- Lincoln Aviator Grand Touring PHEV (MSRP $80,000 or below)
- Tesla Model 3 Performance only (2022 and 2023 model years, MSRP $55,000 or below)
- Tesla Model Y All-Wheel Drive, Long Range, and Performance (2022 and 2023 model years for All-Wheel Drive and Long Range, 2022 model year only for Performance, MSRP $80,000 or below)
- Volkswagen ID.4 (2023 model year, MSRP $80,000 or below)
-Paul
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Something is wrong with your math.yeah thats crazy....$32400 for a brand new Tesla? wow....I may just have to go get another one
Base Model 3 (with Chinese LFP batteries) does not qualify for any credits.
You have to step up to Model 3 Performance ($53K) with NCA Panasonic 2170 batteries to qualify on the manufacturing criteria. There, you at least have a chance to collect $7.5K fed tax credit.
Qualifying on income is another show-stopper altogether.
M3_Performante
Member
oh ok, looks like it now only qualifies for the $3750
either way, $36,150 is a smoking deal for a brand new Tesla
oh ok, looks like it now only qualifies for the $3750
either way, $36,150 is a smoking deal for a brand new Tesla
can we *please* stop pretending that everyone qualifies for tax credits? for all that it's worth... the cheapest Model 3 SR+ costs $39,990 plus taxes/fees.
1st the income limits probably make a lot of coastal families/ Single earners quickly non eligible
second - you need to have enough tax liabilities and the credit can lower your tax bill to zero but will not result in a refund...
If you got too much income tax withheld, you'd get a refund.
mgs333
Member
This is incorrect, what matters is your total tax liability, how much you withhold has nothing to do with this.
Seriously?
If your tax liability - your tax withholding < $7,500
AND your tax liability > $7,500
you will get a refund equal to $7,500 - (tax liability - tax withholding)
If your tax liability - your tax withholding > $7,500
AND your tax liability > $7,500
you will owe taxes equal to (tax liability - tax withholding - $7,500)
mgs333
Member
I think we're each talking about something completely different, I thought we were talking about whether people would qualify for the 7500 credit by playing around with the withholdings, not about getting a refund of the overwithholding from paychecks.
I hear you. You were talking about the tax credit or tax rebate, and I thought the other poster was talking about the refund that you get when you file taxes.
M3_Performante
Member
most people would qualify...90% of the population in the US make less than $150K a year
as far as the the tax credit, there are so many different opinions on here, but most seem to agree that you will will recive a refund
there are multiple threads on the subject explaining how
no. definitely not. tax credits aren't being "paid out" as a refund if there is still credit left after going against all tax liabilities...
Can we make a distinction between a rebate and a refund?
The federal tax credit is a rebate, not a refund. All that matters for the rebate is your tax liability. Doesn't matter how much tax you've already paid. If your tax liability, which depends on your income and not on how much tax you've already paid, is greater than $7,500 you get the full rebate amount of $7,500.
You'd get a refund when you file taxes if the amount you owe is less than $7,500.
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