Tesla (TSLA) set to lose $7.5K tax credit on select Model 3s

Tesla (NASDAQ: TSLA) is set to lose $7,500 tax credit on some of Model 3 variants, according to a late Tuesday notice on the company's configuration page.

Starting December 31st, Model 3 Rear-Wheel Drive and Long Range vehicles will no longer qualify for the $7,500 federal tax credit, based on latest guidance under the U.S. Inflation Reduction Act,

"Tax credit will end for Model 3 Rear-Wheel Drive and Model 3 Long Range on Dec. 31, 2023 based on current view of new IRA guidance. Take delivery by Dec. 31 for full tax credit" - the company's notice read.

Back in July of this year, the automaker did issue a warning that the tax credits for Model 3 may be reduced after Dec. 31.

By Vlad Schepkov

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