$7,500 federal tax credit for Tesla buyers to end December 31

After Elon Musk branded one of the British divers who saved 12 boys a 'pedo', the man has said he is considering legal action

After Elon Musk branded one of the British divers who saved 12 boys a 'pedo', the man has said he is considering legal action

Tesla Inc has delivered 200,000 electric cars to buyers in the United States, a spokesperson said on Thursday, meaning tax credits will now begin to be lowered, while rivals such as Mercedes-Benz, BMW AG and Audi AG will bring electric models to the market with a full tax credit in place. But by 2021, when traditional automakers will have several electric vehicles on the road, Tesla will likely not be the leader, says the study. Last year, Tesla witnessed an increase in sales by nearly 100% than before but now, increased prices are likely to affect the sales volume until the company manages to manufacture its cars locally. After that, the credits will halve, first to $3,750 in the first six months of next year, then to $1,875 in the second half of 2019.

Both GM and Tesla have been lobbying Congress since previous year, hoping to win changes to tax law that would allow them to continue to collect the tax credit, but have been unsuccessful to date.

The clock is ticking for Tesla Inc (NASDAQ:TSLA) vehicle buyers in the US.

'Ceasefire reached' between Israel and Gaza militants
Last Friday, one person was killed and 57 were wounded by Israeli military fire in protests at the Gaza-Israel border. Hamas said another Palestinian had died after being shot by Israeli troops during border protests on Friday.

Put in place early in the Obama administration, the tax credit was seen as a tool that would encourage U.S. customers to buy plug-in electric or hybrid vehicles in keeping with the former president's clean energy and climate change goals. Every Tesla is about to become more expensive. In addition to it, the company also reduced the prices of these models by 40 to 90 thousand Yuan.

For example, a buyer today who purchases a Model 3 for $50,000 (representing a long-range battery, rear-wheel drive auto with the required Premium Package), would get a tax credit that will bring the effective price down to $42,500.

Under federal law, buyers get the full credit until a manufacturer reaches 200,000 in sales since the start of 2010.

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