Introducing the All-New Tesla Model 3: Now Eligible for Full $7,500 Tax Credit!

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 We are thrilled to announce that as per a recent update on Tesla's website, all new Tesla Model 3 vehicles will now be eligible for the full $7,500 federal electric vehicle (EV) tax credit. This change presents an incredible opportunity for prospective Tesla owners to enjoy the benefits of owning a Model 3 while taking advantage of significant tax savings.

The EV tax credits were introduced by Congress in the Inflation Reduction Act last year with the aim of reducing U.S. dependence on Chinese-made batteries. The $7,500 tax credit is split into two parts: $3,750 for vehicles with 50% of the battery component value produced or assembled in North America, and an additional $3,750 for vehicles with 40% of the critical materials' value sourced from the U.S. or a free trade agreement country.

Initially, when the tax credits took effect on January 1, the Treasury Department postponed publishing the battery sourcing guidelines to allow EV manufacturers time to comply with the requirements. On April 18, the department started enforcing the critical material sourcing criterion, resulting in many vehicle models losing their full tax credit eligibility for the first quarter of the year. While the Model 3 had its full credit reduced by half during this period, several other automakers lost their credits entirely.

Now, however, all Tesla Model 3 variants will be eligible for the complete $7,500 tax credit. Previously, only the Model 3 Performance qualified for the full credit. With this change, the Model 3 Long Range All-Wheel Drive and Rear-Wheel Drive variants will also qualify. As a result, the starting price for the Model 3 Rear-Wheel Drive will be $32,740 after factoring in the tax credit.

Tesla has not explicitly stated the reason for this change, but CEO Elon Musk retweeted a screenshot of the updated website, showcasing the available tax credits for each vehicle. Notably, the Treasury Department's website has yet to reflect Tesla's eligibility for the tax credits, and their response to this matter is currently pending.

This development presents a fantastic opportunity to own a Tesla Model 3 at a reduced cost while contributing to a cleaner and more sustainable future. Don't miss out on this chance to drive a beautiful Tesla Model 3 and take advantage of the full $7,500 federal tax credit!

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