The United States offers a $7,500 tax credit for purchases of the Tesla Cybertruck.
Tesla Announces Eligibility of Cybertruck for US Federal Tax Credit
In a recent development, Tesla has announced that the All-Wheel Drive (AWD) variant of the Cybertruck is now eligible for the full US$7,500 federal tax credit in the United States. This eligibility is due to Tesla expanding the availability of non-Foundation Series Cybertruck beyond the U.S.
However, there's a catch. As of now, Tesla has yet to add the Rear-Wheel Drive (RWD) Cybertruck to their online configurator, meaning customers are only able to purchase the AWD variant that qualifies for the tax credit.
The current sales period for the Tesla Cybertruck in the United States, where the AWD version officially qualifies for the US$7,500 tax credit, began in 2023 and continues as long as available inventory meets the IRS requirements for the tax credit.
It's important to note that this development comes as Tesla is still selling 2024 model year Cybertrucks, which are not eligible for the tax credit. As such, no customers were able to receive the tax credit during this period.
In other news, Tesla has not updated their website to indicate the Cybertruck's eligibility for the tax credit until now. The base price of the Cybertruck drops to US$72,490 for those who qualify for the tax credit, and with the US$1,000 referral discount, the price further reduces to US$71,490 for eligible customers who also qualify for the referral discount.
In Canada, the pricing for the Foundation Series Cybertruck's base model remains the same. However, Tesla has increased pricing for the Foundation Series Cybertruck in Canada by 11.5%. The AWD Cybertruck in Canada is priced at C$114,990, while the Cyberbeast starts at C$142,990.
Tesla now makes customers pay extra for the wheels and tires, Full Self-Driving, and Premium Connectivity subscription in Canada. The pricing for the wheels and tires, Full Self-Driving, and Premium Connectivity subscription has been increased in Canada for the Foundation Series Cybertruck.
On a positive note, Tesla has opened orders for the regular Cybertruck in Canada and Mexico. The company also offers a referral link for three months of Full Self-Driving.
The Dual Motor version of the Cybertruck, as per the Internal Revenue Service (IRS), qualifies for the US$7,500 tax credit. Tesla has not confirmed when the RWD Cybertruck will be eligible for the tax credit.
In conclusion, the eligibility of the AWD Cybertruck for the US$7,500 federal tax credit is a significant development for Tesla and its customers in the United States. However, more details are expected regarding the RWD Cybertruck's eligibility and the pricing changes in Canada.
