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How long will $7500 Incentive be around

Discussion in 'Model S: Ordering, Production, Delivery' started by broncophil, Oct 29, 2014.

  1. broncophil

    broncophil Member

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    As stated in another thread, we already put the $5k down on the Model X. But with no delivery date, how do we guarantee we get the $7500 rebate?

    Also I will be ordering my MODEL S, in 4 months (my lease is over in 6 months) So thats $15000 we need worry about.
     
  2. shelbri

    shelbri Member

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    I believe the incentive is available to each of the manufacturers' first 200,000 cars (not positive that is the exact number) so you should be fine given that Tesla has only sold roughly 50k cars so far.
     
  3. yobigd20

    yobigd20 Well-Known Member

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    yeah its manufacturers' first 200,000 cars. so we're up to about 50k so far, probably ~56k through end of this year, next year another 40-50k , in 2016 probably around 70-80k. I think some time in mid to late 2017 is when they'll cross over the 200k mark.
     
  4. Zaxxon

    Zaxxon Member

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    Also, as I mentioned elsewhere but am too lazy to track down now, it only counts US cars, doesn't disappear when 200k are hit, and takes several quarters to phase out once the process starts. It will be quite some time before Tesla buyers have to worry about getting less than $7500.
     
  5. RandyS

    RandyS Fan of Elon

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    Unless the House/Senate pass a bill to get rid of the tax credit and a new President signs it.... :)
     
  6. Barry

    Barry Member

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    The Charging Station credit went away...
     
  7. eco5280

    eco5280 Member

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    Another reason to keep Congress blue - politics aside, red has a history of hating this industry and any gov't assistance in getting it off the ground.
     
  8. Rebel44

    Rebel44 Member

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    AFAIK that 200K only count cars sold in USA, so Tesla is currently much lower than 50K.
     
  9. broncophil

    broncophil Member

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    Ok thanks everyone..i cannot wait
     
  10. breser

    breser AutoPilot Nostradamus

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    Here is the explanation from the IRS as to how this phases out:

    So once Tesla has sold 200,000 vehicles for use in the United States and 6 months after the quarter they do so the credit will be $3,750 for 6 months and then $1,875 for 6 months. To give an example let's say that Tesla sells their 200,000 vehicle in the US in August 2017. The the following schedule would apply (please realize this is only a hypothetical example):

    January 2010 - April 2018 = $7,500
    May 2018 - September 2018 = $3,750
    October 2018 - March 2018 = $1,875
    April 2018 - ... = $0

    So unless Congress changes something or Tesla seriously ramps up production the federal tax credit is going to be around for a long time.
     
  11. yobigd20

    yobigd20 Well-Known Member

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    I keep forgetting about that...but yeah you're both 100% right. only USA cars are counted towards that 200k.
     
  12. TexasEV

    TexasEV Active Member

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    That was different. When it was passed it had an expiration date, which I think was later extended to another expiration date. The $7500 EV tax credit doesn't have an expiration date, it phases out based on unit volume as described in another post.
     

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