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Friday 28 June 2019

Federal tax credit on Tesla models set to ratchet down again July 1

Buyers who want to buy a Tesla have only a few days to take delivery if they want to earn a federal tax credit of $3,750 after they buy. 

Tesla is in the midst of the phase-out of its federal tax credit after it reported selling a cumulative total of 200,000 cars last July.

The $1,875 credit on Teslas will last from July 1 to December 31, before Tesla buyers lose the credit altogether.

Tesla is not the only automaker facing the wind-down of its federal tax credits. General Motors is one quarter behind Tesla; it reached the tax-credit cap last fall after selling 200,000 Chevy Volts and Bolt EVs combined. Its tax credit amount got cut in half April 1; it will fall to $1,875 on September 1 and go away next April.



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