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Tesla Will Pay Tax Credits on Late Car Deliveries
CEO Elon Musk says Tesla Inc. will reimburse customers whose new cars aren’t delivered by the end of the year in time to qualify for a $7,500 federal tax credit.
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CEO Elon Musk says Tesla Inc. will reimburse customers whose new cars aren’t delivered by the end of the year in time to qualify for a $7,500 federal tax credit.
The incentives begin to shrink in January for Tesla cars because the company has reached the 200,000-unit sales cap for the tax credit program. Tesla told customers earlier that orders placed by Oct. 15 would be delivered by year-end and qualify for the full $7,500 credit.
The credit on Tesla cars is scheduled to drop to $3,750 on Jan. 1, $1,875 on June 1 and disappear at the end of 2019. Musk says Tesla will cover the difference for cars that were ordered by the October deadline but aren’t delivered despite “the customers’ good efforts to receive.”
Carmakers have been urging Congress to continue to incentives, but no action has been taken to date.
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