That might be close to true for the S/X but I doubt that it is remotely true for Model 3 buyers. It takes a pretty hefty income to qualify for the full tax credit: ~$58,000+ for single filers with the standard deduction and no extra personal exemptions, ~$75,000 for couples with the standard deduction and no extra personal exemptions (under current tax rules, of course). If the tax credit survives Congress I expect that there at a lot of people who will be surprised that they don't qualify for the full tax credit on their Model 3. Whether they are stretching to afford the 3 on a modest income or just have low incomes and robust savings — as is the case for many retirees — the number of such folks figures to be a LOT higher than 1%!