In today’s news, according to thestreet.com, the $7500 tax credit that you get for buying one of Tesla’s marvelous vehicles, may be expiring as soon as 2018.
Along with Tesla stock price going up, the $7500 tax credit will expire, once Tesla produces their 200,000 vehicle sale. That would literally mean, any Teslas currently on the market like the Model S, Model X, and Model 3 will not come with that $7500 tax break.
The street.com stated:
Once the 200,000th Tesla is sold, the tax credit will begin a phase out period. The following year, buyers get half the credit. For the next two quarters after that, buyers will get 25% of the credit, or about $1,875
This news isn’t all bad. I’m guessing that the tax break won’t be cut off indefinitely, it will just be solely for newer vehicles produced. Automakers, who make all electric vehicles, will also cut off the tax break for their current model range, due to a federal mandate. We might be able to see future vehicles with the $7500 break, but you might want to get your Tesla today. Click on the first hyperlink in this post to read the full article.