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US Federal $7,500 Electric Vehicle Credit Expiry Date By Automaker

"For Tesla specifically, we estimate they will hit #200,000 in early Q2 of 2018, which will give the automaker from April 1st to September 31st, 2018 to make as many Model S, X and 3s as they can. So, if you are holding a reservation ticket for a Tesla Model 3 and reside in the US, this is likely your sweet spot/deadline for netting the whole $7,500 credit."
If you mean this InsideEVs article it sounds more like Between 1st of January and 1st of April. Was there a newer estimate?
The phaseout is likely to be irrelevant ... if Congress eliminates the entire Tax Credit in 2018. :cool:
 
US Federal $7,500 Electric Vehicle Credit Expiry Date By Automaker

"For Tesla specifically, we estimate they will hit #200,000 in early Q2 of 2018, which will give the automaker from April 1st to September 31st, 2018 to make as many Model S, X and 3s as they can. So, if you are holding a reservation ticket for a Tesla Model 3 and reside in the US, this is likely your sweet spot/deadline for netting the whole $7,500 credit."
As many Model 3s are showing up now I’d bet they hit 200k in Q1
 
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Even if the Tax Credit stays for 2018, I imagine the $7500 won't last too long before Tesla hits 200K vehicles in the US.

Actually, does anyone know how they calculate that? I'm guessing based on the VIN the IRS will have a way of knowing if it was before or after the 200K threshold.

The 200,000 mark is self reported by Tesla along with a date they say it happened on. It doesn't matter what VIN is exactly the 199,999 or 200,000 or 200,001 car. The phase out after that doesn't go by quantity it goes by date.

They could easily put out more than 100,000 Model 3, S, X in the six months of full credit around the trigger.

They can then put out another batch greater than 100,000 cars that get half credit.

Then assuming the credit isn't revoked by congress there would be time for them to do over 200,000 with a quarter credit.

The phase-out period stretches over one year, beginning in the second calendar quarter after the quarter in which the manufacturer hits the 200,000 vehicle US sales mark. From there, all qualifying vehicles sold by the manufacturer are eligible for 50% of their specified credit for the first two quarters and 25% of the credit for the next two quarters.

For example if a manufacturer sells its 200,000th vehicle in the first quarter (Q1) of 2018, the credit amounts for all of that manufacturer's eligible vehicles would phase out as shown in the table below.

Tax Credit Phase-Out Schedule Quarter Credit

Q1 2018 Full amount
Q2 2018 Full amount
Q3 2018 50% of full amount
Q4 2018 50% of full amount
Q1 2019 25% of full amount
Q2 2019 25% of full amount
Q3 2019 No credit
 
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As many Model 3s are showing up now I’d bet they hit 200k in Q1
As a $TSLA stock holder, that would make me VERY happy!
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This really isn't the thread for this, but the customer doesn't need to worry about crossing a certain number threshold, reaching that number will trigger a date for the phase out. The date will be known at least three months in advance, and there will be ample time for it to be communicated.

Lol, but how? I've bought 2 EVs now, and I'm about to buy my 3rd. There's no form they hand you saying whether you qualify or not. TurboTax doesn't ask you which brand of EV you bought. If I'm not watching the news, who is telling me if my car qualifies or not?
Did you have any contact with them prior to the call tonight? I need them to update the final MVPA before I can finish my loan stuff but I have yet to be able to track down anyone to talk to...

Just call the number in your order agreement. They will hook you up with your sales advisor.
 
TurboTax sure should be asking you what brand of EV you bought. Not all EVs qualify for the full credit.
It asks but probably doesn't enforce the 200,000 limit. I'm sure it's the IRS that enforces that. They just need to see what your date of sale was and what make car you have. If you buy X car before Y date, it would be eligible for the full $7500. If bought after Y date and before Z date, it receives 50%, etc.

Perhaps Turbotax does look up the manufacturer. I know I entered my make and model when I filed. They could show a message or give instructions indicating you get $7500 before Y date or $3750 or whatever the appropriate amount is later.