$7500 Federal Tax Credit coming by years end? - says Tesla Rep

[sys_env]

Still no update going into November. Some transparency from Tesla here to help make a purchasing decision would be appreciated - it either won’t qualify and they know it or they are working on getting it qualified and there is a timeline.

Being transparent here leads to better purchasing decisions: Buy now if it won’t qualify and you’re able or be content on waiting if it will eventually.

But waiting in the dark just to find out it would’ve never qualified leads to more frustration, less sales, and loss of trust.

I’m sure some will disagree, but this is how I see it and my order is on extended hold until there is clarity. I don’t want to make an uninformed purchase.

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[sirozha]

This is not a political comment at all. I like Elon, especially now that he is on the right side. However, Trump has already signaled that he would try to cancel the IRA-based federal tax credit on EVs, and I've read multiple reports that Elon fully supports this move (allegedly because this would hurt the Tesla competition much harder than it would hurt Tesla). In view of of all this, it appears to me questionable that Tesla is pushing hard for the IRA tax credit to be approved for the Cybertruck.

Now, there is a contrarian position here as well in that Rivian is only a few grand away from the IRA credit on the R1S, and yet they are not lowering the price to under $80,000 to get it. So, the cancelation of the IRA federal tax credit on EVs will not affect the R1S (yes, I know it's an SUV rather than a truck, but I think most prospective Cybertruck buyers are cross-shopping the Cybertruck with the R1S rather than than the R1T - at least I am).

In any case, it's peculiar that the non-Foundation Series Cybertruck has been for sale for several months now (and, apparently, is now deliverable within just a few weeks without needing a pre-order), yet there is no news on the IRA Federal tax credit availability at all. Judging by a lot of EV blogs, Tesla is now demand constrained on the Cybertruck, so I would think that Elon would want to pull the demand lever by offering the $7,500 tax credit taken at the point of sale, and yet we hear nothing from Elon.

 

[Macgreiner]

LOL - not a political comment " I like Elon, especially now that he is on the right side "

 

[zachsmith]

This is not a political comment at all. I like Elon, especially now that he is on the right side. However, Trump has already signaled that he would try to cancel the IRA-based federal tax credit on EVs, and I've read multiple reports that Elon fully supports this move (allegedly because this would hurt the Tesla competition much harder than it would hurt Tesla). In view of of all this, it appears to me questionable that Tesla is pushing hard for the IRA tax credit to be approved for the Cybertruck.

Now, there is a contrarian position here as well in that Rivian is only a few grand away from the IRA credit on the R1S, and yet they are not lowering the price to under $80,000 to get it. So, the cancelation of the IRA federal tax credit on EVs will not affect the R1S (yes, I know it's an SUV rather than a truck, but I think most prospective Cybertruck buyers are cross-shopping the Cybertruck with the R1S rather than than the R1T - at least I am).

In any case, it's peculiar that the non-Foundation Series Cybertruck has been for sale for several months now (and, apparently, is now deliverable within just a few weeks without needing a pre-order), yet there is no news on the IRA Federal tax credit availability at all. Judging by a lot of EV blogs, Tesla is now demand constrained on the Cybertruck, so I would think that Elon would want to pull the demand lever by offering the $7,500 tax credit taken at the point of sale, and yet we hear nothing from Elon.

i need a new vehicle soon and I want it to be the CT but I’m waiting to see if there is EOY incentives, ie low financing rates like 3/Y.

I’m convinced that the tax credit isn’t coming because it would have happened by now. A lot of buyers were waiting for that so they need another demand lever to meet quarterly numbers. They need to sell ~515,000 vehicles in q4 to meet guidance, which would be an all time record. I don’t mind waiting for Tesla ‘black Friday’ to see what happens.

 

[Deleted member 17810]

This is not a political comment at all. I like Elon, especially now that he is on the right side. However, Trump has already signaled that he would try to cancel the IRA-based federal tax credit on EVs, and I've read multiple reports that Elon fully supports this move (allegedly because this would hurt the Tesla competition much harder than it would hurt Tesla). In view of of all this, it appears to me questionable that Tesla is pushing hard for the IRA tax credit to be approved for the Cybertruck.

Now, there is a contrarian position here as well in that Rivian is only a few grand away from the IRA credit on the R1S, and yet they are not lowering the price to under $80,000 to get it. So, the cancelation of the IRA federal tax credit on EVs will not affect the R1S (yes, I know it's an SUV rather than a truck, but I think most prospective Cybertruck buyers are cross-shopping the Cybertruck with the R1S rather than than the R1T - at least I am).

In any case, it's peculiar that the non-Foundation Series Cybertruck has been for sale for several months now (and, apparently, is now deliverable within just a few weeks without needing a pre-order), yet there is no news on the IRA Federal tax credit availability at all. Judging by a lot of EV blogs, Tesla is now demand constrained on the Cybertruck, so I would think that Elon would want to pull the demand lever by offering the $7,500 tax credit taken at the point of sale, and yet we hear nothing from Elon.

The reason there's no new guidance or indication of what's gonna happen with tax credits, is that the incoming administration is volatile.

 

[zachsmith]

The reason there's no new guidance or indication of what's gonna happen with tax credits, is that the incoming administration is volatile.

You’re obviously right about the volatility but that’s all the more reason to make the credit available asap and pull forward demand.

Since it isn’t available, there’s got to be another reason- ie Chinese components in the batteries, with stricter limitations coming in ‘25. Updating the supply chain for compliance would make no sense for Tesla because the credit is likely going to be gone relatively soon. At least this is what I’ve read and was it was also alluded to by a sales rep.

 

[Deleted member 17810]

You’re obviously right about the volatility but that’s all the more reason to make the credit available asap and pull forward demand.

Since it isn’t available, there’s got to be another reason- ie Chinese components in the batteries, with stricter limitations coming in ‘25. Updating the supply chain for compliance would make no sense for Tesla because the credit is likely going to be gone relatively soon. At least this is what I’ve read and was it was also alluded to by a sales rep.

They can't make any moves, legally, until after. That's the hold up.

 

[zachsmith]

They can't make any moves, legally, until after. That's the hold up.
[/QUOTE

After what? Do you have insider knowledge?

 

[Deleted member 17810]

After the administration change.

 

[Jack27]

This just in!! breaking : the tax credit people have made up that never was a thing is still not a thing. Stay tuned for no new news and keep waiting.

 

[Tarek]

December update is here and no Cybertruck in the list!

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