IRS now using EPA definition of SUV [02.03.2023]

[bugek]

Treasury modifies vehicle classifications in EV tax credit after industry pushback

The department said it will now use the consumer-facing EPA Fuel Economy Label standard to determine whether a vehicle is a sedan, SUV, pickup or van instead of using EPA corporate average fuel economy, or CAFE, standards.

www.autonews.com

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get ready for price hikes! consider LOCKING in your order TODAY!!!

 

[Pricedm]

https://home.treasury.gov/news/press-releases/jy1245

2022 Tesla Model Y Long Range AWD

Fuel Economy of the 2022 Tesla Model Y Long Range AWD. Compare the gas mileage and greenhouse gas emissions of the 2022 Tesla Model Y Long Range AWD side-by-side with other cars and trucks

www.fueleconomy.gov

 

[YNoVA]

Price increase incoming

 

[BigTonyTones]

Behind a paywall. Can you explain what this is?

 

[YNoVA]

Behind a paywall. Can you explain what this is?

Model Y (all models) now qualifies up to 80k.

 

[Mardak]

You can see it reflected on the IRS page where all Model Y instead of only the 7-seat now has a $80k MSRP (including physical options but not software) limit.

Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service

You may qualify for a clean vehicle tax credit up to $7,500 if you buy a new, qualified plug-in electric vehicle or fuel cell electric vehicle.

www.irs.gov

 

[Pricedm]

Behind a paywall. Can you explain what this is?

I updated post #2 to have link to US Treasury: https://home.treasury.gov/news/press-releases/jy1245

 

[bugek]

Price increase incoming

I would be surprised if they haven't raised by at LEAST $500 by Monday. I would expect them to raise $500 every few weeks and monitor the order backlog to feel the 'REAL' market price

Back in December, they were FLYING OFF the shelves around 58k for base. So i would expect increase to 56k to 58k within months (barring recession)

 

[whisperingshad]

Now is the time to order a MYP

 

[Mardak]

This sounds like good news for some people who purchased before the price drops too where I believe Model Y LR was starting around $66k and Performance $70k:

Customers who have purchased and placed in service vehicles since January 1, 2023, that qualify under the EPA Fuel Economy Labeling classification standard announced today and who satisfy the other clean vehicle tax credit requirements can claim the credit, including customers with vehicles that did not qualify under the prior EPA CAFE standard.​

 

[Daekwan]

Ugh. Probably never been a better time to buy a MYP. Still around $60K configured with grey paint, white interior and tow hitch. With 5.4% interest rate that's still over $1,000 payment. That said getting the $7,500 back is flat out AWESOME.. and the overall price has never been cheaper.

Will certainly give this some LONG thought tonite. Might wake up with a new car order

 

[Jasonx82]

nooo i could have gotten a MYP..... I just took delivery..

 

[TesLEEZ]

Makes sense why Ford didn't drop the price of the extended range Mach-e below $55k. They knew this was coming.

 

[Daekwan]

Makes sense why Ford didn't drop the price of the extended range Mach-e below $55k. They knew this was coming.

There is no way they didnt know. I refuse to believe a multi-billion corporation do not have insider knowledge of all this. Especially considering they are the same ones lobbying Congress/IRS to change to laws to benefit them. Hell they were probably part of the ones pushing the IRS to make the change to EPA guidance.

 

[whisperingshad]

Win win for Tesla either way, if too many orders, they can start raising(Supply/Demand)

 

[WetzelPretzel]

Now is the time to order a MYP

I have a MYLR order with EDD in range of next 2 weeks. Just placed another order for MYP!

At $5k price difference I not only get the color I want but the performance resale is better too...and as a car guy, I really wanted the MYP to begin with. I think it's a no brainer at this point for anyone contemplating LR vs performance.

 

[Jasonx82]

I have a MYLR order with EDD in range of next 2 weeks. Just placed another order for MYP!

At $5k price difference I not only get the color I want but the performance resale is better too...and as a car guy, I really wanted the MYP to begin with. I think it's a no brainer at this point for anyone contemplating LR vs performance.

Ughhhh.... I just took delivery of my LR., my joy is turning to mixed feelings.
the difference was 2000 + 7500, Now its just 2000 diff for the MYP from my LR with 20"

 

[zroger73]

Something tells me I'm going to be glad I locked in at $52,990 a couple of weeks ago.

 

[Gurule92]

The Treasury Department just fixed the EV tax credit’s Tesla Model Y problem

The Cadillac Lyriq and Tesla Model Y are SUVs again.

www.theverge.com

 

[bburk00]

Anyone know if this applies at the time of purchase or is it a tax rebate like the old way (pre-2022)? I pick up my MYP tomorrow.