The folks that put down $1,000, in hopes of getting a car in 2018, have been scammed. Did anyone tell them that the $10,000 in tax credits the State and Feds currently give for electric cars will no longer exist when they actually buy the car? Do they think technology will stop in the next two years or that these cars will be yesterdays news when they take the keys?
“Starting last week, the California state rebate for $2,500 came off the table to single filers earning more than $250,000 a year, head-of-household filers making more than $340,000 and joint filers making a combined $500,000, the report said.
“Buyers shouldn’t be counting on either the federal or the state-level incentives as part of their financial calculations in purchasing the vehicle,” Patrick Min, senior analyst at the automotive company ALG, told the Times.
This are rich people, guess they understand the financing of this car—not in their favor. Currently, you and I are giving the RICH $10,000 to buy a TESLA—are you getting your moneys’ worth? Or would you prefer more cops?
Tesla’s Model 3 buyers may miss out on government subsidies
Gina Hall, Silicon Valley Business Journal, 4/6/16
Don’t bank on any tax credits for Tesla Motors’ Model 3.
Government rebates could run out before most customers receive Palo Alto-based Tesla’s new affordable electric vehicle, according to the Los Angeles Times. Almost 276,000 pre-orders have been put in for the Model 3, so far.
The $7,500 federal tax credit for electric vehicles is capped at 200,000 units sold in the U.S. per manufacturer. According to industry estimates, Tesla has already sold about 67,000 Model S and Model X vehicles that are qualified for rebates and has plans to move 80,000 to 90,000 vehicles this year. The federal rebates could expire for Tesla before the first Model 3 delivers.
Starting last week, the California state rebate for $2,500 came off the table to single filers earning more than $250,000 a year, head-of-household filers making more than $340,000 and joint filers making a combined $500,000, the report said.
“Buyers shouldn’t be counting on either the federal or the state-level incentives as part of their financial calculations in purchasing the vehicle,” Patrick Min, senior analyst at the automotive company ALG, told the Times.
California could allocate more funds to its Clean Vehicle Rebate Project in future budgets. The budget for the next fiscal year starts July 1 and contains $175 million, Colin Santulli, senior manager of clean transportation for the Center for Sustainable Energy, told the Times.
“What the state is going to designate for 2017, 2018, 2019, when the Tesla [Model 3] hits consumers’ driveways and they can apply for the incentives, we really can’t say,” Santulli said.
“The state will have to look at what the demand is going to be the next time they propose allocating a budget for the program, and they’re definitely going to have to take into consideration the Tesla Model 3 demand.”
The Model 3 costs around $35,000, making it affordable to middle-class drivers, although with bells and whistles the car goes for several thousand dollars more. The $70,000 starting price tag on previous Tesla models placed it in the luxury market and out of reach for most consumers. The Model 3 represents an opportunity for Tesla to go mainstream. The Chevrolet Bolt, which will become available in late 2016, also promises a 200-mile range at the same price point as the Model 3.
Last month, tens of thousands of people lined up at brick-and-mortar Tesla stores across the globe to put down a $1,000 deposit for the Model 3 — the car not expected to hit mass-production until 2018.
About Stephen Frank
Speak Your Mind