will model Y qualify for $7500 or $3750 tax credit in 2023?

[hybrid>EV]

I am unclear if model Y battery allows it to qualify for full or half of the credit? Does anyone know?

 

[Tam]

I am unclear if model Y battery allows it to qualify for full or half of the credit? Does anyone know?

My guess is cars companies will submit their proof that they should be eligible then the IRS will list it online for us to see.

Right now it's still confusing.

 

[DanCar]

Of several articles I've read on the subject most believe Tesla will qualify for full credit, others say it is unknown. Tesla is likely making changes to get the full credit.

 

[MP3Mike]

Still too many unknowns. Like what all is included in the price cap? I think the way some people read it things like the order fee, destination charge, and sales taxes are included. That puts a Model Y LR with FSD over the limit, even if sales tax isn't included if you add a color or the larger wheels.

But maybe because of the battery cell/module production credits that are also included in the IRA bill Tesla will be able to lower the price of all vehicles by a couple/few thousand to get them to qualify. (It will partially depend on if Panasonic is willing to pass along any of that savings to Tesla or if they keep their portion all to themselves.)

 

[Tam]

Still too many unknowns. Like what all is included in the price cap? I think the way some people read it things like the order fee, destination charge, and sales taxes are included. That puts a Model Y LR with FSD over the limit, even if sales tax isn't included if you add a color or the larger wheels.

But maybe because of the battery cell/module production credits that are also included in the IRA bill Tesla will be able to lower the price of all vehicles by a couple/few thousand to get them to qualify. (It will partially depend on if Panasonic is willing to pass along any of that savings to Tesla or if they keep their portion all to themselves.)

Price cap is an easy fix. In Canada Tesla reduced the battery range and reduced the price to fix the price cap.

What is more difficult is the minerals: must come from North America: Lithium, graphite...

 

[MP3Mike]

Price cap is an easy fix. In Canada Tesla reduced the battery range and reduced the price to fix the price cap.

Right, but in that case Tesla making a crippled Model 3, that almost nobody bought, made all Model 3s qualify. (I don't think that trick will work for the US tax credit, I think here it is based on the cost of each individual vehicle sold.)

 

[cybergates]

Following - if I want to buy model y - seems for model year 2023 do I order now or wait till 1/1/2023 and place the order?

The 80k limit is easy - buy without FSD/EAP and add later if needed. All Teslas come with the necessary h/w already

 

[bayareaever]

Following - if I want to buy model y - seems for model year 2023 do I order now or wait till 1/1/2023 and place the order?

The 80k limit is easy - buy without FSD/EAP and add later if needed. All Teslas come with the necessary h/w already

Except fsd will cost at least $3k more by then, thereby eliminating much or all of tax credit benefit.

 

[patmurphey]

Don't forget that the FED Chairman said that they would aggressively raise interest rates. Each couple of points added by delayed delivery dates could some of any perceived gain by waiting to buy your car.

 

[ewkid]

My guess is Telsa will post something about it on Jan 2.

 

[hybrid>EV]

Current EDD is NOV - DEC. I did some math on my model Y 7 seat order, with 10% down and 90% loan. Basically for every 1% loan rate increase, the monthly payment increases by $25+ while the total loan interest increase by $2k+. I am thinking about changing my Y from 7 to base version of 5 seat hoping it will push delivery out to next year so I can get some tax credit. However, some said changing it to base version didn't delay their EDD so I am not sure if it will work so close to EDD. There are 3 more FOMC meetings this year, so if rate goes up another 2% from here, it may not be worth it.