Is Model Y Considered Suv For Tax Credit That s despite the VW ID 4 which has about the same size as the Model Y and Mach E being considered an SUV and getting access to the tax credit for a price of up to
Manufacturers and models for new qualified clean vehicles purchased in 2022 and before If you bought a new qualified plug in electric vehicle EV between 2010 and 2022 you may be Tesla Model Y vehicles that previously did not qualify for the new EV tax credit program are now included after crossovers are now considered to be SUVs
Is Model Y Considered Suv For Tax Credit
Is Model Y Considered Suv For Tax Credit
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As a result those three models that were ineligible unless they cost less than 55 000 are now eligible for the tax credit with sales prices of up to 80 000 In response Tesla slashed the price of the Model Y by nearly 20 000 so it would qualify for the EV tax credit that went into effect on January 1 In a clarification dated February 3 Treasury
Tesla s Model Y model and other electric vehicles from auto manufacturers including Ford General Motors and Volkswagen will now qualify for a federal tax credit of Certain variants of Tesla s Model Y may not qualify for the 7 500 federal EV tax credit based on the IRS s latest guidelines
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The Treasury Department just fixed the EV tax credit s Tesla Model Y problem Previously certain versions of Tesla s crossover SUV as well as several other EVs were being classified as sedans Tesla Model Y versions eligible for the SUV tax credit Tesla Model Y All Wheel Drive 7 seat variant 3 rows 80 000 Tesla Model Y Long Range 7 seat variant 3 rows
According to the government the five seat Model Y is not an SUV so the cap of 55 000 is applicable If you look at the cash price neither the Long Range nor Performance The IRS says it recognizes a seven seat Model Y as an SUV so if the final cost of a customized seven seat Model Y is under 80 000 it s eligible for the 7 500 federal tax rebate
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That s despite the VW ID 4 which has about the same size as the Model Y and Mach E being considered an SUV and getting access to the tax credit for a price of up to
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Manufacturers and models for new qualified clean vehicles purchased in 2022 and before If you bought a new qualified plug in electric vehicle EV between 2010 and 2022 you may be
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Is Model Y Considered SUV
Is Model Y Considered Suv For Tax Credit - As a result those three models that were ineligible unless they cost less than 55 000 are now eligible for the tax credit with sales prices of up to 80 000
