2025 Cybertruck now listed as eligible for $7500 federal tax credit

[Mini2nut]

If it wasn't for reaping in millions off of Tesla stock the board of directors would never have green lit the brutalist Cybertruck for production. Plus, Musk has tons of clout in the company.

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[YDR37]

Please move the Elon stuff to a different thread. I'm watching this one for tax credit info.

As I see it, the EV tax credit situation for 2025 CTs will depend on the following two factors:

• When Tesla clears its remaining inventory of 2024 CTs.
• When (and if) the incoming administration revokes the EV tax credit.

Unfortunately, there is a lot of uncertainty for both factors.

Best-case scenario: Tesla sells off the remaining 2024s quickly, and the tax credit stays indefinitely. CT customers get prompt access to 2025 AWDs for $80,000, and can apply the $7,500 credit. In the very best case, Tesla introduces a 2025 RWD for $61,000, which is also eligible for the $7,500 credit.

Worst-case scenario: Tesla can’t clear the 2024s before the new administration takes office. The new administration immediately revokes the tax credit. The 2025 AWD eventually goes on sale for $80,000, but the $7,500 credit is never available. The 2025 RWD for $61,000 never appears.

Both scenarios are realistically possible. Another possible scenario: Tesla clears the 2024s from inventory and offers 2025s with the credit, but there is only a limited "window of opportunity" to apply the credit before the new administration yanks it.

 

[Startreknerd]

If it wasn't for reaping in millions off of Tesla stock the board of directors would never have green lit the brutalist Cybertruck for production. Plus, Musk has tons of clout in the company.

I actually like the Cybertruck and it does sell, more than any other EV truck, but it would sell more without musk.

 

[YDR37]

I actually like the Cybertruck and it does sell, more than any other EV truck, but it would sell more without musk.

The Cybertruck was the top-selling EV truck in the US during 3Q 2024. However, the F-150 Lightning had a good quarter in 4Q 2024, and may have reclaimed that title. We'll have to wait for more data on CT sales (since Tesla doesn't provide exact numbers). It could be close.

The Lightning may have the edge when it comes to annual sales for 2024, because the CT production was still ramping up during 1Q and 2Q.

 

[Jedi2155]

I actually like the Cybertruck and it does sell, more than any other EV truck, but it would sell more without musk.

It wouldn't sell at all without Musk because it wouldn't exist without him. I don't know any other company that would be willing to risk billions in R&D with a potential flop like the CT.

From my understanding, without Musk, Tesla would stop innovating, and without him we would've never had a vehicle like the Cybertruck even green lit. It has a lot of classic Elon design hubris, but the design is outstanding that all other truck options were basically non-starters for me (I seriously considered the Silverado EV since it is such a strong contender in terms of functionality).

Elon has said if it doesn't sell well, they will make a smaller truck


https://www.businessinsider.com/elon-musk-tesla-normal-pickup-truck-if-cybertruck-doesnt-sell-2020-8

I know a lot of new found hate for Elon has arisen due to his public coming out of his political opinions, which would always rub ~50% of your market the wrong way which is why most business leaders avoid the topic altogether.

 

[b_b]

The new administration immediately revokes the tax credit.

This may have already been mentioned, but I don't think Trump can issue an executive order to revoke the EV tax credit... because it's a tax policy already codified into law.

It would require legislation to be proposed and passed by both the House + Senate, and then a future "effective date" set to give the IRS time to adjust their shit.

IMHO even with strong bipartisan support, I wouldn't expect to see the tax credit to go "bye-bye" until 2026.

 

[Startreknerd]

The Cybertruck was the top-selling EV truck in the US during 3Q 2024. However, the F-150 Lightning had a good quarter in 4Q 2024, and may have reclaimed that title. We'll have to wait for more data on CT sales (since Tesla doesn't provide exact numbers). It could be close.

The Lightning may have the edge when it comes to annual sales for 2024, because the CT production was still ramping up during 1Q and 2Q.

The lightning is more of a work truck especially with the two lower trims. The lariat and platinum might be more like the Rivian and CT in features or appointments.

 

[Startreknerd]

It wouldn't sell at all without Musk because it wouldn't exist without him. I don't know any other company that would be willing to risk billions in R&D with a potential flop like the CT.

From my understanding, without Musk, Tesla would stop innovating, and without him we would've never had a vehicle like the Cybertruck even green lit. It has a lot of classic Elon design hubris, but the design is outstanding that all other truck options were basically non-starters for me (I seriously considered the Silverado EV since it is such a strong contender in terms of functionality).

Elon has said if it doesn't sell well, they will make a smaller truck


https://www.businessinsider.com/elon-musk-tesla-normal-pickup-truck-if-cybertruck-doesnt-sell-2020-8

I know a lot of new found hate for Elon has arisen due to his public coming out of his political opinions, which would always rub ~50% of your market the wrong way which is why most business leaders avoid the topic altogether.

Your Jedi powers don't work on me.

 

[Crissa]

The lightning is more of a work truck especially with the two lower trims. The lariat and platinum might be more like the Rivian and CT in features or appointments.

It's not more durable, it isn't as adaptable to work sites, has a poorer turn radius, why is it 'more of a work truck'?

C'mon.

-Crissa

 

[YDR37]

This may have already been mentioned, but I don't think Trump can issue an executive order to revoke the EV tax credit... because it's a tax policy already codified into law.

It would require legislation to be proposed and passed by both the House + Senate, and then a future "effective date" set to give the IRS time to adjust their shit.

IMHO even with strong bipartisan support, I wouldn't expect to see the tax credit to go "bye-bye" until 2026.

I think you are technically correct. However, the codified law doesn't go into details about the exact implementation of the credit process -- that's up to the executive branch, which can make it easier or harder to claim the credit.

For example, now you can claim the credit at the point of sale, so the $7,500 is an instant discount. I don't think that's required by law; it used to be that you couldn't claim the credit until you filed your taxes. The Biden administration made it easier to get the credit; the Trump administration could make it harder again.

I've also heard that the law doesn't actually mention leases. The Biden administration interpreted the law as including leases; the Trump administration could interpret it differently.

 

[YDR37]

It's not more durable, it isn't as adaptable to work sites, has a poorer turn radius, why is it 'more of a work truck'?

Well, it costs less (for the lower trims). And it can use all the same toolboxes, racks, and other work accessories as an ICE F-150. The large frunk with power outlets seems particularly popular as a secure and convenient place for storing/charging tools.

 

[Startreknerd]

It's not more durable, it isn't as adaptable to work sites, has a poorer turn radius, why is it 'more of a work truck'?

C'mon.

-Crissa

Because it's a lot cheaper, compatible with the ICE 150 racks, boxes and liftgtes.

 

[Jedi2155]

Your Jedi powers don't work on me.

Come to the Darkside......we have cookies!

 

[Startreknerd]

Come to the Darkside......we have cookies!

I'd rather have Romulan ale battered onion rings, deepfried in targ lard.

 

[Jedi2155]

I'd rather have Romulan ale battered onion rings, deepfried in targ lard.

Commander Sela and the Tal Shiar would have you working in a dilithium mine for that unapproved luxury!

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