I've always been a skeptic, but I agree it sure looks that way. The got as many cars delivered close to home in Q1 as possible, and switched configuration to Canada as soon as deliveries were going to be in Q2 anyway.
US Federal $7,500 Electric Vehicle Credit Expiry Date By Automaker
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I've always been a skeptic, but I agree it sure looks that way. The got as many cars delivered close to home in Q1 as possible, and switched configuration to Canada as soon as deliveries were going to be in Q2 anyway.
Uncle Paul
Well-Known Member
While Tesla is working hard to optimize their customers tax credits, others are also working to get the credits extended.
With so many foreign manufacturere just coming into the EV marketplace, would seem uncomfortable for the only USA manufacturer to be shut out, while the others get all the credits. Would put Tesla at a disadvantage for all the Johnny come lately producers.
With so many foreign manufacturere just coming into the EV marketplace, would seem uncomfortable for the only USA manufacturer to be shut out, while the others get all the credits. Would put Tesla at a disadvantage for all the Johnny come lately producers.
Very much agree. Would be great to see a change to something like first 3 million EVs rather than first 200K EVs (plus phaseout) for each of 15 or so global automakers.
You can also get a federal credit for your charger and charger installation cost. 30% of total cost, up to $1000.
ℬête Noire
Active Member
On your 2017 taxes if it was installed and operational by Dec 31, 2017. When it was retroactively renewed for 2017 I thought they only did it for last year, not also for 2018?
You are correct. I do not believe it is in place for 2018 yet. Hopefully it will be extended again. Keep your receipts.
So I get my car Mar 22. Somebody else gets their car in November, and say the credit is down to $3,750.
What determines that i get the $7,500 and he gets the $3,750.
I can't file my 2018 taxes until early next year.
What if he files his 2018 taxes before me?
What determines that i get the $7,500 and he gets the $3,750.
I can't file my 2018 taxes until early next year.
What if he files his 2018 taxes before me?
ℬête Noire
Active Member
Technically on the form you fill out it is worded my like "date the vehicle was put into service". Which is probably the date on the registration/licensing, or the day you drive it off the lot?
With the TX weirdness where I pay for the car in full several days before taking possession this might matter.
So the 200k number is total cars sold, even if 20% of those 200k don't put in for the credit, or don't qualify.
ℬête Noire
Active Member
Yes. That is my understanding. The first 200k cars sold have the credit available to them. It doesn’t matter if the purchaser files for the credit, skips filing, or does not have enough tax burden to benefit.
Chris350
Member
That's the kicker.... Tesla is delaying US deliveries to stretch the tax credit.... Which won't apply to everyone that do not have enough of a tax burden.... In my case, I'm paying in full and won't need the credit... But wait I must.... Which is disappointing....
ℬête Noire
Active Member
A little off topic but maybe talk to an accountant. Do you have something of an IRA you can roll over into a Roth to create enough tax owed to use the credit?
Your wording is a little misleading (to me at least). The 200kth car sold in the U.S. starts the phase out. Cars sold in that quarter and the next quarter are eligible for 100% of the credit, then 2 quarters its 50%, and lastly two quarters of 25% of the credit.
voip-ninja
Give me some sugar baby
Exactly. Since Tesla appears to be looking to stretch the US $7500 credit out as much as possible they would deliver car # 200,000 on July 1st and then produce as many cars as possible all through the remainder of 2018 so that the maximum number of customers get the maximum tax credit.
It's actually a smart move on their part because it allows the $3750 credit to last until middle of next year unless a new tax law kills it.... meaning those who don't want to spring for a 1st production vehicle but want the more affordable $35,000 car would still get a nice tax credit. More of those buyers probably wouldn't qualify for the full $7500 credit anyways.
Imagine the end of quarter crunch when they are delivering 4-5k a week, and the $7,500 is about to turn into $3,750
ℬête Noire
Active Member
The weeks leading into that I want to see every stop pulled, down to temp workers in draft horse collars pulling cars off the lot to customer handovers.
FlatSix911
Porsche 918 Hybrid
Interesting reading ... Tesla To Sell 200,000th EV In U.S. In 2018, Tax Credit Phase Out Follows
It's very likely that Tesla will reach 200,000 cars in 2Q18 and start the tax credit phaseout.
It's very likely that Tesla will reach 200,000 cars in 2Q18 and start the tax credit phaseout.
Gonna be interesting to see what happens to bolt and leaf sales once the tax credit expires. Those $200 a month lease that turn into $400 a month lease... ouch
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