A Tesla Now Costs Less Than a Camry With CA Tax Credits
Thanks to California tax credits, eligible consumers can now purchase a Tesla Model 3 for less than a Toyota Camry.
Yesterday, June 6, President Joe Biden's Administration confirmed that all Tesla Model 3 automobiles will now qualify for $7,500 electric vehicle consumer tax credits.
Per Reuters, in April, the nation's new EV battery rules lowered the federal tax credit for the Model 3 Standard Range Rear Wheel Drive and Long Range All-Wheel Drive to $3,750. Last week, Tesla's website was updated with the battery change, and the government confirmed the change on its fueleconomy.gov website with yesterday's announcement.
Automotive leader Car and Driver reviewed the Model 3, with relatively few cons. The magazine's verdict about the car was:
It is worth noting that California's Clean Vehicle Rebate Program (CVRP) does have some eligibility requirements that can be found on its official website.
Details about the federal program can be found via the IRS.
What do you think about California taxpayers potentially receiving $15,000 in tax credits for purchasing a Tesla?
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Feature Image Credit: Scott Olson/Getty Images
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