$7,500 federal tax credit for Tesla buyers to end Dec. 31

July 12, 2018

Tesla Inc. says its customers won't get the full $7,500 federal electric vehicle tax credit after Dec. 31.

The company says on its website that the credit on its vehicles will start to phase out next year.

Under , buyers get the full credit until a manufacturer reaches 200,000 in sales since the start of 2010. Tesla buyers will get the $7,500 this year, then the credit is cut in half and phased out by the end of 2019.

The announcement on Tesla's site means the company hit 200,000 in sales this month.

Losing the credit could hurt future sales. Tesla has over 400,000 people on a for its lower-priced Model 3 car. Some buyers may not be able to afford the cars without the .

Explore further: Tesla falls short on Model 3, but overall sales rise in 2017

Related Stories

Recommended for you

Physicists discover new class of pentaquarks

March 26, 2019

Tomasz Skwarnicki, professor of physics in the College of Arts and Sciences at Syracuse University, has uncovered new information about a class of particles called pentaquarks. His findings could lead to a new understanding ...

Study finds people who feed birds impact conservation

March 26, 2019

People in many parts of the world feed birds in their backyards, often due to a desire to help wildlife or to connect with nature. In the United States alone, over 57 million households in the feed backyard birds, spending ...

Matter waves and quantum splinters

March 25, 2019

Physicists in the United States, Austria and Brazil have shown that shaking ultracold Bose-Einstein condensates (BECs) can cause them to either divide into uniform segments or shatter into unpredictable splinters, depending ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.