Elon Musk's Tesla Urges Buyers To Lock In Orders Before September 30 $7,500 EV Credit Cutoff

Benzinga

Tesla is urging buyers to act before the Sept. 30 EV tax credit deadline, with Q3 deliveries expected to beat forecasts. IRS rules let customers qualify with a down payment, though lease deals must be delivered by the cutoff.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Tesla is urging customers to finalize purchases for the September 30th federal EV tax credit

00:07deadline as third quarter deliveries are set to beat expectations, according to Reuters.

00:11The company posted on X that buyers have two days left to lock in a $7,500 Fed tax credit

00:16linking to its website.

00:18The IRS resides its rules, allowing customers to qualify for the federal EV credit if they

00:22make a small payment, such as a down payment or trade-in, by September 30th, even if delivery

00:27occurs later.

00:28Tesla updated its terms, but clarified that delayed deliveries only apply to cash purchases,

00:33while lease customers must take delivery by the deadline.

00:36California Governor Gavin Newsom confirmed the state will not move forward with additional

00:39EV incentives after the federal deadline.

00:42Instead, redirect the efforts toward expanding charging infrastructure.

00:45For all things money, visit Benzinga.com.

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