If you’re hoping to get the full $7,500 federal tax credit on a Tesla, you only have a few days to place your order for the Model S, Model X or Model 3. Tesla has announced that buyers have until October 15 to place their order to ensure that they will get their Tesla by the end of the year to be eligible for the tax credit.
The $7,500 federal tax credit is available for the first 200,000 electric vehicles sold by an automaker and once the threshold has been passed, the tax credit is reduced as part of a phase out period. For buyers that don’t take delivery of their Tesla by the end of the year, the federal tax credit will be reduced by 50% starting on Jan 1, 2019 until June 30. Starting on July 1, 2019, the federal tax credit has been reduced to $1,875.
Given the new deadline, this means that buyers hoping to get the base Model 3 with the full tax credit will be out of luck. Tesla still hasn’t started production of the cheaper Model 3. last month Elon Musk estimated that production of the $35,000 Tesla Model 3 wouldn’t start until sometime next spring.