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Why Tesla Model Y tax credit inclusion is good for some and bad for others

Teslarati

The Tesla Model Y complete lineup was recently added to the IRS list of qualifying vehicles that will give buyers a $7,500 tax credit. While it may seem like the company’s huge price cuts coupled with the tax credit would be good for everyone, it spells bad news for competitors that offer comparable EVs in the same category.

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Honda undercuts Tesla Model Y after slashing Prologue EV lease prices to $399/mo

Baua Electric

Honda believes the Prologue hits the “sweet spot” of the electric SUV market at the right price. After kicking off production of its first global electric SUV in February, the Honda Prologue began hitting US dealerships in March. With the $7,500 EV tax credit, the 2024 Honda Prologue price falls as low as $39,900 (without destination).

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What EV Drivers Should Know About Leasing an EV This Year

Blink Charging

Although the $7,500 consumer tax credit for buying an electric car is becoming more restrictive for new vehicles adhering to specific manufacturing requirements , there’s a provision enabling consumers to still enjoy the credit when leasing an EV assembled outside of North America.

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Tesla supporters protest after IRA incentives shun popular BEVs, support hybrids

Teslarati

Based on the list of vehicles that qualify for IRA’s $7,500 tax credit, popular battery-electric cars like some variants of the Tesla Model Y and the Ford Mustang Mach-E will not be getting any incentives from the IRA at all. . However, a number of gas-powered hybrids actually do. — Elon Musk (@elonmusk) January 1, 2023.

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GM hints at an affordable Chevy Camaro EV: A $35,000 real electric pony car?

Baua Electric

Among the considerations were a 2+2 coupe, convertible, and two- and four-door SUVs. With the $7,500 EV tax credit included, prices could fall to as low as $27,500. In comparison, the sixth-gen Camaro started at just over $30,000. The Chevy Blazer EV is also eligible for the credit.

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Hyundai undercuts Tesla Model 3 by $9,300 with 2024 IONIQ 6 special cash offer

Baua Electric

It’s essentially like receiving the full EV tax credit with a new purchase. In comparison, the new Tesla Model 3 Highland starts at $40,380 (including destination). Like the IONIQ 6, Tesla’s Model 3 is no longer eligible for the IRA tax credit. According to Hyundai’s website, the deal ends on January 31, 2024.

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Volkswagen ID.4 becomes Top 3 most affordable U.S. EV, but there’s a catch

Teslarati

VW now realizes just how competitive the electric SUV space has become, and the company hopes to become more competitive with a recent price cut in the U.S. The vehicle will now have a starting price of $37,495 instead of $39,995 and, with federal tax credits, will be just under a $30,000 vehicle at the base model.