New Tesla “Model 3” and “Model Y” vehicle purchases benefit from the 2022 Inflation Reduction Act

The new EV Tax Credits associated with this bill extends the $7500 tax credit on qualified new EV and hybrid vehicles through 2032.

This article from Investors Business Daily: says: “New vehicles would need to have a suggested retail price below $55,000 for sedans. That price threshold would be $88,000 for SUVs, trucks and vans to qualify for the EV tax credit.

For Tesla, that means new vehicle purchases of the Model 3 and Model Y are eligible for the $7500 tax credit.