Buyers of electric cars and plug-in hybrids can get up to a $7,500 federal tax credit as long as the manufacturer hasn’t sold more than 200,000 qualifying vehicles. That means come Jan. 1, 2019, for Tesla buyers, and July 1, 2019, for GM buyers, the federal tax credits will be cut in half, to $3,750. And then a year later, they will expire completely.
“I would imagine that most people truly waiting for that base model should not count on getting the tax credit—or at least no more than a quarter of it,” a Tesla spokeswoman said.
Read the report at Consumer Reports.