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Tesla's full tax incentive ends on October 15th
If you want to want to take advantage of Tesla's $7,500 federal tax incentive, you'll have to reserve one before October 15th and pay for it before the year ends. Back in July, the automaker announced that it has already sold 200,000 units, and under the law, that means it has hit the ceiling for federal tax credits. Now, the company has revealed a timeline for the incentive's phase out, so you plan accordingly.
Tesla's $7,500 EV tax credit is close to disappearing
Tesla might have just hit the long-promised 5,000 per-week mark for Model 3 production, but now it has a different hurdle to cross. Elon Musk's electric vehicle company has sold enough cars to hit the ceiling for federal tax incentives. The automaker has confirmed that it has sold 200,000 units and as such the $7,500 tax credit buyers have enjoyed will begin to phase out after this December 31st, according to Electrek. If you take delivery of a Model S, Model X or Model 3 between January 1st and June 30th, you'll get a $3,750 credit, which is halved after July 1st and then will end next December 31st. A chart on the Tesla support page lays it all out.
