Tesla has recently announced that two of its electric vehicle (EV) models, the Model S and Model X, now qualify for federal EV tax credits after the company marked down their prices by 20%.
The federal EV tax credit is a tax incentive for consumers who purchase electric vehicles, with the credit amount based on the size of the vehicle’s battery. To qualify for the credit, a vehicle must have at least a 4 kWh battery and the manufacturer must not have exceeded the 200,000 vehicle credit cap set by the government.
Previously, the Model S and Model X did not qualify for the credit as their prices were above the threshold set by the government. However, with the recent price drop of 20%, the vehicles now qualify for the credit. This means that customers who purchase a Model S or Model X may be eligible for a tax credit of up to $7,500.
The price drop of 20% is a significant reduction, and it is expected to boost sales of the Model S and Model X. The tax credit will also make the vehicles more affordable for consumers, making them more accessible to a wider range of buyers.
This move by Tesla is a sign that the company is looking to increase sales of its electric vehicles and make them more affordable for consumers. It also highlights the importance of government incentives such as the EV tax credit in promoting the adoption of electric vehicles.
Tesla’s recent price drop of 20% for the Model S and Model X has qualified them for the federal EV tax credit, making the vehicles more affordable for consumers. This move is expected to boost sales of the electric cars and highlights the importance of government incentives in promoting the adoption of electric vehicles. It is a win-win situation for both Tesla and the buyers.