As everybody was watching the ball drop and celebrating below a fireworks-filled sky when the clock ticked over into 2025, the IRS was unveiling its newly revamped record of automobiles eligible for the $7,500 federal EV tax incentive. Shock of all surprises, the controversial Tesla Cybertruck made the minimize this yr.
Tesla just lately lowered the worth of the usual all-wheel drive mannequin to $79,900, conveniently $100 below the max worth for incentive eligibility, down from $99,900 simply final summer time. With some further Biden Bucks on the hood, the entry-level Cybertruck will now value you a measly $72,490 earlier than the $1,995 vacation spot price, $250 order price, and taxes.
When the Cybertruck first made its debut in 2019, firm CEO Elon Musk stood on stage and instructed the world that it could begin at $39,900. All these years later and the truth is that you simply’ll pay about double that to buy your stainless-steel doorstop on wheels.
In response to fueleconomy.gov, the single-motor model of the Cybertruck can also be eligible for federal incentives, regardless of Tesla having scrubbed all point out of that truck from its web site. Probably the most reasonably priced model of the truck was obtainable to order for a time at $60,990, however was eliminated final summer time as the corporate continued having manufacturing ramp up points. If Tesla does re-introduce that truck on the identical worth level it was in August, it could additionally qualify for the motivation money, dropping its worth to simply $53,490 earlier than tax, title, and charges.
Now that the corporate appears to have found out how one can produce the vans rapidly, it could actually’t appear to discover a solution to promote them, and inventory retains piling up across the nation. Maybe the introduction of the cheaper single-motor truck mixed with its eligibility for tax incentives will spur gross sales. Or perhaps it being form of a nasty truck will maintain unit deliveries low.
After all, any gross sales bumps Tesla get from the Cybertruck getting into federal tax credit score standing will possible be quick lived. Incoming President Trump, who Musk supported to the tune of $259 million within the presidential marketing campaign, and his transition group have vowed to kill the Biden EV tax credit score. Tesla itself has allegedly pledged assist for ending the subsidy.
