today:
103
yesterday:
177
Total:
1,001,020

증권

Qualify for New Tax Credit

admin 2022.08.15 02:12 Views : 25

The Inflation Reduction Act should be law any day now. That will make electric vehicles cheaper for U.S. buyers. It won't, however, make some of the most popular EVs cheaper.

 

The law should give the EV industry a boost. Still, not every Tesla (ticker: TSLA), or Tesla buyer, will qualify for a tax credit.

 

The devil is always in the details. And there is a lot of nuance in the 700-plus page bill which President Biden is expected to sign this week. For starters, to qualify for the $7,500 purchase tax credit electric sedans will have to be priced under $55,000, while SUVs and trucks will need to be less than $80,000.

 

That means Tesla Model X and S vehicles, which are still some of the top-selling EVs in the U.S., won't qualify for a credit. Those can both cost more than $100,000. So can the Mercedes EQS, Porsche Taycan and GMC Hummer.

 

Those vehicles will be priced out of the tax credit. Some more expensive Tesla Model 3 sedans won't qualify as well. A Model 3 performance trim starts at about $63,000.

 

But a base-level Model 3 starts at about $47,000. That price will quality for the credit. So will Tesla Model Y vehicles because those should be considered SUVs. A Model Y performance trim starts at about $70,000.

 

The Y is the best-selling EV in the U.S. The Model 3 is second-best. Roughly 230,000 Y and 3 vehicles were sold in the U.S. in the first half of 2022. That's more than double the next 10 top-selling EVs combined.

 

EV price isn't the only qualifier. In addition to price, final assembly needs to be in North America. That should exclude EVs manufactured by Hyundai Motor (005380.Korea), Kia ( 000270.Korea), Audi and Polestar Automotive (PSNY). Those firms assemble EVs in Asia and Europe.

 

Overall, it looks as if about half of the bestselling EVs in the U.S. will qualify for the credits. Of course, companies will adjust pricing and change where cars are manufactured to make sure they aren't disadvantaged in the marketplace.

 

The last major restriction on EV tax credits is related to personal income. Household income for joint filers needs to be below $300,000. Head of household income needs to be below $225,000. For an individual filer, the threshold is $150,000.

 

While it might be a little complicated to sort through the details, a lot of EVs are about to get a little more affordable.

 

Tesla stock has risen about 9% since Sen. Chuck Schumer and Joe Manchin announced in late July compromises that became the Inflation Reduction Act. Ford Motor (F) and General Motors (GM) shares have gained about 23% and 14%, respectively, over the same span. The S&P 500 and Dow Jones Industrial Average have gained 6% and 5%, respectively.

No. Subject Date Views
128 TESLA SMART SCORE & RATINGS 2022.09.08 50
127 New Tesla Wait Times Drop In China Soon After Factory Upgrades 2022.09.07 45
126 [테슬라] 30% 오를 여력 있다-Tesla shares could lead to a 30% gain 2022.09.06 51
125 Tesla stock is big buy, Goldman Sachs says 2022.09.06 46
124 Tesla Hiring Recruiters In Quebec: Is Gigafactory Canada Announcement Getting Closer? 2022.09.05 44
123 TESLA - Reports & Ratings 2022.09.01 51
122 Cramer Suggests Tesla Since 'They're Also In The Lithium Business' 2022.08.24 33
121 Elon Musk’s Many Korean Fans Have Built a $15 Billion Tesla Stake 2022.08.23 26
120 About Tesla - 08/21/2022 2022.08.21 53
119 CFRA, 테슬라 [적극매수- STRONG BUY]로 등급 상향 2022.08.18 33
118 Who owns Tesla stock? 2022.08.15 35
» Qualify for New Tax Credit 2022.08.15 25
116 Tesla (TSLA) secures deal for $5 billion worth of nickel in Indonesia, says official 2022.08.08 36
115 Tesla's 3-for-1 Stock Split file 2022.08.03 29
114 Tesla (TSLA) is launching a new shareholder platform to manage its large investor base 2022.07.26 34
113 Tesla short-sellers took a $1 billion hit after earnings 2022.07.24 33
112 Tesla will post its financial results for the second quarter of 2022 after market close on Wednesday, July 20, 2022 2022.07.17 45
111 [일런머스크] 트위터 인수 포기 2022.07.08 37
110 [일런 머스크] Rivian 과 Lucid 잘못하면 파산한다 2022.06.15 49
109 [테슬라] 저평가 종목 $1100이 적정수준 2022.06.14 36
108 Why Tesla Stock Jumped on Friday 2022.05.28 50
107 Bill Gates has a short position against Tesla Inc. 2022.05.27 42
106 Analyst Stays Bullish on Tesla Stock. That’s Helping to Fuel a 3-Day Rally. 2022.05.27 42
105 Why Tesla Stock Crashed Today 2022.05.05 43
104 Elon Musk Plans Crusade On Twitter Spam And Bots — New Data Reveals The Size Of His Problem 2022.05.02 38
103 Asian shares fall in thin trading after rout on Wall St 2022.05.01 37
102 Musk Makes a Big Promise After Selling Millions of Tesla Shares 2022.04.29 38
101 Elon Musk sold around $4 billion worth of Tesla shares as he moved to buy Twitter file 2022.04.28 41
100 Nasdaq Falls 4% As Tesla, AMD Take A Big Slide 2022.04.26 28
99 Twitter Accepts Elon Musk’s $44 Billion Takeover Bid 2022.04.25 53