Tesla Model 3 and Tesla Model Y will not qualify for $7500 incentive in 2024

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Tesla is indicating that in addition to two configurations of the Model 3 losing their full federal tax credit next year, there is a high probability that the Model Y will also experience a reduction in its tax credits. Just today, Tesla officially announced that both the Model 3 RWD and Model 3 Long Range will no longer qualify for the full $7,500 federal tax credit for electric vehicles starting January 1, 2024. This is a departure from their initial suggestion that these models would only see a 50% reduction in the tax credit.

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