Tesla says orders placed by October 15 eligible for full tax credit

Marco Green
October 16, 2018

Tesla is now saying that anyone who orders a new Tesla vehicle before October 15 will be eligible for the full $7,500 tax credit.

Tesla Motors Inc (NASDAQ:TSLA) said that it had delivered 200,000 electric cars in United States, which means that the tax credit will start to shrink for electric auto buyers after October 15. "They simply want a Tesla". All vehicles sold in the second half of 2018 are eligible for the fully $7,500 credit. Tesla confirmed to Business Insider in July that it had passed the 200,000-vehicle threshold. Then on July 1 it will drop in half again to $1,875, before going away altogether at the end of the year.

Under the federal guidelines, though Tesla sold its 200,000th battery-car in July, buyers continue to be eligible for incentives on vehicles delivered before the end of 2018. Tesla fell about 2,000 vehicles short of toppling the USA luxury market's king-of-the-hill, BMW, and Atherton Research, which tracks trends in the auto industry, expects Tesla will snatch the sales crown during the final three months of this year.Worldwide, the company confirmed it delivered nearly 84,000 cars between July and September, "more than 80% of the vehicles we delivered in all of 2017". Readers will remember what happened in Ontario in July when Progressive Conservative Premier Doug Ford canceled the province's cap and trade program - leaving Tesla buyers owing $14,000 extra on their new Teslas. Last quarter, Tesla sales beat Mercedes Benz for the first time in the U.S.

Tesla set its order deadline for Monday, Oct. 15, to allow lead time to ensure customers' cars are delivered by the end of the year.

The website indicates that customers who place their orders by October 15 will guarantee delivery by December 31, after which the credit begins to expire.

Buyers of electric cars get full tax credit for the quarter in which the company hits the 200,000 delivery mark and the next, according to Internal Revenue Service regulation http://bit.ly/2NxwsXn.

Other reports by Click Lancashire

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