Finance

Tesla's Game-Changing Adjustment for EV Tax Credits: What You Need to Know!

2025-09-22

Author: Ming

Tesla has just made a significant shift in its ordering process in response to recent changes in IRS rules regarding the $7,500 electric vehicle (EV) tax credit.

This tax credit, which offers a lucrative incentive for eco-conscious buyers, is set to expire on September 30, 2023, but new guidelines from the IRS may give many buyers a last-minute benefit.

New IRS Guidelines: A Game Changer for EV Buyers

Previously, customers had to take delivery of their Tesla by September 30 to qualify for the tax credit. However, recent IRS adjustments mean that as long as you enter a binding contract and make a nominal down payment, you can place an order by the deadline and benefit from the credit—even if delivery occurs later.

This crucial update was welcomed by consumers who had felt pressured to settle for pre-built inventory rather than their ideal custom configuration.

How to Qualify for the EV Tax Credit

To qualify, buyers must: - Place an order by September 30, 2023. - Enter a binding written contract. - Make a nominal down payment (or trade-in). Leasing does not qualify; delivery must happen before the tax credit's expiration.

Tesla's Website Gets a Major Update!

In light of these changes, Tesla has updated the language on its website to clarify the new eligibility requirements, alleviating confusion about the binding contract and down payment specifics.

Impact on Tesla's Sales and Deliveries

This adjustment holds monumental implications for Tesla. Many customers rushed to take delivery in recent months anticipating the tax credit phase-out. With the new rules, however, deliveries stretching into Q4 could boost Tesla’s performance.

Exciting Enhancements to Tesla's Referral Program

Tesla has also revamped its Referral Program, offering exciting benefits for both referrers and new buyers. Key highlights include: - $250 in Tesla Credits for each referred customer who completes a purchase. - A $1,000 discount on the purchase of a new Model S, Model X, or Cybertruck for the first 10 referrals. - $500 off for new Model 3 or Model Y buyers.

Smart Summon Feature Gets a Battery Life Boost

In addition to pricing changes, Tesla is addressing battery drain concerns in its 'Actually Smart Summon' (ASS) feature. Owners have reported battery loss when using various functions while parked. To combat this, Tesla will automatically deactivate the Summon Standby feature from midnight to 6 a.m. and after 24 hours of parking.

The Future is Here: Neuralink's Revolutionary Trial

On a different note, Neuralink, led by Elon Musk, is gearing up to begin a groundbreaking clinical trial in October aimed at translating thoughts directly into text. Approved by the FDA, this technology could revolutionize communication for individuals with speech disabilities and eventually extend its reach to healthy individuals.

As these developments unfold, Tesla continues to lead the charge in shaping the electric vehicle landscape, not just with innovative cars but also with forward-thinking policies and programs.