-Wiznaz (mod)
As of Feb 3, IRS the Treasury Department just fixed the EV tax credit's Tesla Model Y problem and the cap is $80k for ALL models now.
Ordered Date and App Time; City/State; Model; Delivery Date
01/13/2023; 7pm CST, Dallas, TX; MY, Est Jan 22nd to Feb 5th
01/13/2023; Ohio; M3, Est Mid Feb to March
01/15/2023; Oahu, Hawaii; MY; February 19 - March 26
01/14/2023; 9pm; Los Angeles, CA; MY (Blue); February 4 - March 4 (edit// now February 14 - March 21 as of 1/24/23) (edit2// February 8 - February 22 as of 1/30/23) (edit3// VIN assigned [PA066*]; February 15 - February 24 as of 2/4/23)
01/13/2023; 11:29am EDT; Boston/MA; MY White/Black wheels; January 19 - came with defect and went promptly to body shop without picking up
01/13/2023: 12pm PT, Los Angeles, CA; MY (white) no options; Jan 26 - Feb 26, then 10 days later got VIN, then three days later scheduled delivery for Feb 5.
Who Qualifies
You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032.
The credit is available to individuals and their businesses.
To qualify, you must:
Buy it for your own use, not for resale
Use it primarily in the U.S.
In addition, your modified adjusted gross income (AGI) may not exceed:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in 1 of the two years, you can claim the credit.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
https://www.irs.gov/credits-deduc...quireme
The sale qualifies only if:
You buy the vehicle new
The seller reports required information to you at the time of sale and to the IRS.
Sellers are required to report your name and taxpayer identification number to the IRS for you to be eligible to claim the credit.
The new law requires the POS (Dealer or manufacturer) to report a bunch of information on the buyer to the IRS.
Such as:
Seller/Dealer name and taxpayer ID number
Buyer's name and taxpayer ID number
Maximum credit allowable under IRC 30D for new vehicles or IRC 25E for previously owned vehicles
Vehicle identification number (VIN), unless the vehicle is not assigned one
Battery capacity
Date of sale
Sale price
For new vehicles, verification that the buyer is the original user
CALIFORNIA
Now the Model 3 and Y do qualify for CVRP rebate up to $4,500 ($2,000 + $2,500 income eligible ) up to $7,500 after February 2023.
https://cleanvehiclereb
Summary of February 28, 2023 updates:
……
In addition to the standard CVRP rebate, consumers with household income less than or equal to 400 percent of the federal poverty level are eligible for an increased rebate amount of $5,500 (previously $2,500) for BEVs and PHEVs, and $3,000 (previously $2,500) for FCEVs. This amounts to:
……….$7,500 for battery-electric vehicles (previously $4,500)
https://cleanvehiclereb
B Thank you for your email. Vehicle manufacturers must apply for Clean Vehicle Rebate Project (CVRP) eligibility with the California Air Resources Board (CARB) and meet a number of program requirements. If all program requirements are met, the vehicle is added to the list of eligible vehicles on our website. At this time, Tesla has not applied.
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Excluding taxes and fees, I paid $63,940. It's now $59,630, which is $4,310 less, and it is eligible for the $7,500 tax credit. That means if I didn't buy it in December and bought it today, I would have saved $11,810 + sales tax, so a bit over $12,000 in savings I missed. (I got 10,000 Supercharger miles, which is worth somewhere between $500 and $1,000.) With taxes and fees, I paid $71,578.55 in total.
For those who do order, I recommend this Tesla Prep guide [glideapp.io] to check for build quality issues on delivery day.
I hope this helps,
Tofu Vic
The disclosure, which was first reported by Electrek, comes as the company faces scrutiny over the safety and capabilities of its standard advanced driver assistance system known as Autopilot and the $15,000 optional upgraded product branded as "Full Self-Driving." Tesla FSD beta software offers some automated driving features but is not a self-driving system.
The luxury EV-maker has long claimed it could reach full autonomy through a "vision only" approach that shuns other sensors like lidar and radar in favor of cameras and a deep neural network that quickly processes a vehicle's surroundings and responds in real time. Tesla CEO Elon Musk previously promised to "solve" full self-driving by the end of this year (he's also promised Tesla would get there every year for roughly nine years now). He has recently admitted the problem will take longer to solve.
And perhaps, as every other autonomous vehicle technologist says, it's not actually achievable yet through cameras alone.
The company began removing radar from its vehicles last May. In October, Tesla removed its 12 ultrasonic sensors from Model 3 and Model Y vehicles built for North America, Europe, the Middle East and Taiwan. Ultrasonic sensors measure distance via ultrasonic waves and are used as proximity sensors to support anti-collision safety systems, particularly in parking use cases.
Now it appears radar is back. It's not yet clear which models will get the new radar. The type of radar Tesla intends to market next year is of a frequency that's allocated by the FCC for ADAS use cases, according to Ram Machness, chief business officer at Arbe Robotics, which produces ultra-high-resolution 4D imaging radar.
Tesla had originally filed with the FCC to use the new radar — which is described in filings as "76-77 GHz Automotive Radar" — in its vehicles back in June.
"From the frequency of operation (76-77GHz) as well as the mechanical design of the sensor from Tesla's FCC filing, it appears that this radar would be utilized in ADAS applications," Steven Hong, VP and general manager of radar technology at semiconductor company Ambarella, told TechCrunch.
He noted that while the performance of this "edge" radar sensor will be limited, it's a positive development that Tesla is looking to add radar to its perception stack for safety-critical, robust performance.
Earlier this year, the FCC had granted a confidential treatment to Tesla in order to keep the details of the new radar under wraps. Late last month, Tesla applied to extend that confidentiality treatment another 60 days from its date of expiration, which is December 7.
i hope this answers your question
Wayback Machine if anyone wants to do some research: https://web.archive.org/web/20220...ely/design
I'll throw out some notable 'milestones' , focusing only on the Model Y LR base model:
* Feb 2021 - $49,000 - Roughly the lowest price for the Y LR (not including the SR @ $42k)
From this point forward, Tesla started increasing the price about $1-2 every month or so, until it peaked out at $66,000. Ex:
* May 2021 - $51,000
* July 2021 - $53,000, etc...
* Feb 2022 - $59,000, etc...
* July 2022 - $66,000 <-- peak
* Dec 1 2022 - $66,000 (-$3750 credit/refund)
* Dec 15 2022 - $66,000 (-$7500 credit/refund)
* Jan 1 2023 - $66,000 back to peak (-$7500 fed tax credit only on 7-seater)
* Jan 13 2023 - $53,000 (-$7500 fed tax credit on base model + 7-seater but not performance)
* Jan 23 2023 - $53,500 (-$7500 fed tax credit on base model + 7-seater but not performance)
* Feb 4 2023 - $55,000 (-$7500 fed tax credit on all models)
12,284 Comments
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So much more exciting than a Tesla. Drove my buddy's Model 3 Performance it felt so neutered. Sure a few stoplight races are exhilarating, but it gets real boring real soon. Also, you basically have to have a personal garage for it to be feasible imo (and many in downtown Chicago do not)
Obviously, I don't do my own taxes!
So much more exciting than a Tesla. Drove my buddy's Model 3 Performance it felt so neutered. Sure a few stoplight races are exhilarating, but it gets real boring real soon. Also, you basically have to have a personal garage for it to be feasible imo (and many in downtown Chicago do not)
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After the recent price cut in China, the Model Y in China is selling for 259.9K rmb standard range, or 309.9K rmb long range. Using today's exchange rate of 1usd~6.7rmb, that translates to $38.8K standard range, or $46.3K long range.
Since the standard range model Y is not available at Telsa US right now, let's look at long range only, which is 53k in US. Minus the 7.5K federal credit, the effective cost for Model Y long range is US is 45.5k. Sightly less than that in China. So the Model Y long range is roughly the same prices at the two markets, except Uncle Joe has to foot the bill a little.
Also if you want to import it to the US you will have to pay 25% Tariffs and ocean freight and local transportation. Which will equal you about same price as here in US
https://insideevs.com/news/608882...ety-tests/
https://twitter.com/tesla/status/...vp8m-wsEEg
Add in the 10x reduction in accidents on Autopilot (while fully supervised of course) and it's literally scary to be in anything else. I don't mind driving but prefer autopilot. My wife will absolutely not drive without it (she was scared to engage it for the first year of owning the car lol).
Every time I pass a major accident (pretty much every day) I say "damn if only the were in autopilot" haha. Can't tell you how many times it's saved me from blind spot mergers, etc. Most accidents on freeway I see are rear-endings due to traffic slow downs, which it would just never do.
Obviously the media amplifies any Tesla crash, but if you follow the nerd computer vision lectures at Stanford from Karpathy or those from Elluswamy, they receive 100s of AP over-ride accident avoidances EVERY DAY and 40 wrong-pedal applications EVERY DAY. That's 50,000 accidents prevented annually. I've also found that anyone who disagrees simply doesn't own a Tesla or is too scared to actually engage it and find out for themselves.
I'm not a Tesla fanboi and there's things wrong with the company in other ways, just, that's how it is, but I'm sure there's haters out there ready to pounce on this post who wouldn't buy a Tesla anyway.
Obviously, I don't do my own taxes!
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300k if married.
So worst case scenario is that Tesla is estimating all deliveries to be before the end of March, with some being delivered AFTER March, and those who take delivery after March are subjected to the possibility that the tax credit is less?
Yes, it might change after March for SOME vehicles (most likely the standard range Model 3, if it changes at all, since the LFP batteries come from CATL in china right now)
The Performance 3 (and the regular LR 3 if they open orders back up) as well as the 52.9k Y and the 7-seat Y, should still get the full credit since their batteries are all made and/or assembled in the US-- though there's always a chance some bizarre curveball could come out in the regulations.
The year that just ended a couple weeks ago.
They announced yet another record quarter for deliveries less than 2 weeks ago.
They will announce yet another record quarter for revenue and profit in another 2 weeks.
There's nothing whatsoever to suggest that same growth won't continue for years, and a lot of factors showing it will.
Just some quick math as an example for you- Price of Model Y LR 2022 vs 2023 is a $13,000 lower selling price. But we can estimate actual cost of the car is about $6000 lower in 2023 due to the $3690 IRA manufacturer battery credit Tesla collects, and the cost reductions from ramping the Austin and Berlin manufacturing plants to higher volumes.
That means Tesla is making about 21.3k margin per car, instead of 28.3k margin in 2022. Sounds bad, right?
Except they'll likely sell twice as many of them-- especially since that 13k price cut is BEFORE the $7500 tax credit- so actual price to the customer is a 30% cut even though Teslas margins only contract by 6%. Thus 2x higher sales volume means total margin dollars actually go UP by 60%.
Meanwhile all the "competition" is losing money on each BEV they sell.
Folks have been announcing THIS is the year demand collapses and COMPETITION IS COMING for a decade now- they continue to be wrong every single time.
But by all means if you think otherwise, short the stock.
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