Last week, we reported that Tesla is close to reaching the end of its allocation of federal tax credits for those who buy its cars.
The credits amount to a $7,500 discount for most buyers.
The credits were passed after the 2007 federal Energy Independence and Security Act to promote the sale of electric cars. They offered buyers a way to offset the added costs of batteries. The bill’s credits were limited to the first 200,000 electric cars that each automaker sold.
Following Tesla’s sales reports, and extrapolating production from March after the company’s last report, it looks likely that Tesla will reach that 200,000 sales threshold this month.
General Motors will likely not be far behind.
After a company sells 200,000 electric cars, the credits continue for one more quarter, then begin to diminish. For another six months, buyers can get half the $7,500 credit, then a quarter credit for six more months.
Given that many buyers who have reservations for Tesla Model 3s are budget-conscious buyers waiting for the most affordable $35,000 version, we thought we’d ask our Twitter followers this week: “When Tesla’s federal tax credits expire, which electric car would you buy?”
The four obvious choices seem to be: Still a Model 3, a Chevy Bolt EV, a Nissan Leaf, or something else.
When Tesla’s federal tax credits expire, which electric car would you buy?
— Green Car Reports (@GreenCarReports) June 4, 2018
Remember that our Twitter polls are unscientific, because we get a low sample size and those who do respond are self-selected. We’re still always interested to hear your opinions, so click on over and take the poll.