The US Gov. comes to their senses and allows the Tesla Model Y to get the IRA tax credit.
Tesla market share will grow faster, now that all Tesla Model Y's get the tax break
Now Tesla can raise prices on the Model Y
Back on Jan 13th,Tesla drastically dropped the prices for the Model 3 and Model Y.
In fact, Tesla dropped the price for the model Y by as much as $20,000. The prices for the Model 3 and Model Y were decreased so that some versions of the Model 3 and Model Y would be eligible for the Inflation Reduction Act (IRA), which the US Government strangely chose to exclude them from. Most of the Mainstream Media (MSM) gave voice to the false narrative that Tesla had demand problem, and was forced to lower their prices. Back then, Elon Musk had this to say regarding that:
"These price changes really make a difference for the average consumer,” he said, adding that vehicle orders were roughly double the production in January, leading the automaker to make small price increases for the Model Y sport utility vehicle said Elon Musk."
Now that the US Treasury department updated the requirements for the IRA, all the Tesla Model Y configurations are eligible for the the $7,500 tax credit. This also means that Tesla could start to raise the price of the Model Y because its new price limit is set at $80,000. The following short video explains some of the upside, and benefits for Tesla and great news for consumers wanting to purchase a Tesla EV.
Source: Andy Slye Youtube channel
Should you run out & buy a Tesla Model Y immediately - Yeah maybe you should!
"I would say if there was an EV that you're interested in, that today qualifies for a full $7,500 tax credit and you know that it qualifies and you know that it's available on a dealer lot — you should go and buy it," says Keith Barry of Consumer Reports"
WOW - Sales surged in Jan. after the Tesla price reductions for the Model 3 & Y
Tesla sales will surge further, now that all the Model Y's get the IRA Tax credit
Elon Musk was asked what auto company is in second place behind Tesla
"We still don’t even know really who would even be a distant second. So yes, it really seems like we’re — I mean, right now, I don’t think you could see a second place with a telescope, at least we can’t."
Brutal Elon
Farzad Mesbahi goes deeper into the new opportunities the changes in the IRA requirements provide for someone thinking about buying an electric car this year.
Source: Farzad Mesbahi Youtube Channel
Great news for EV consumers especially those looking to buy a Tesla Model Y
"We have long advocated for the IRA’s tax credits to be as widely accessible as possible, and crossover SUVs are the fastest growing segment in the market today,” Albert Gore, executive director of Zero Emissions Transportation Association, said in a statement. “In short, this announcement is great news for American drivers!"
See the Gary Black tweet where he included the complete Bloomberg article.
Tesla Is The Best Mega Cap Stock
The new announcement from the US treasury department, that allows all Tesla Model Y EVs to get the full tax credit, will boost the Tesla US auto market share and sales a great deal in 2023. Take a look at the following tweet that shows how Tesla did last year compared to the other US mega cap stocks. You can get more Mathias Fons related Charts here.
Here are the US Mega Cap Net income & Revenue growth YoY chart comparisons.
See all the good work here: Mathias Fons Twitter
See all the good work here: Mathias Fons Twitter
Now that all Tesla Y EVs get the IRA tax credit, legacy Auto margins and the new EVs from China margins will suffer even more, while Tesla profit margins grow much larger. Yes, Tesla's grip over the EV market will be getting tighter and tighter.
Source: Visual Capitalist
More tax breaks for Tesla Model Y will lead to more auto market share and more Net income for Tesla. For legacy auto - much less Net income for Ford & GM in 2023.
Source: James Stephenson Twitter
Great news for EV consumers especially those looking to buy a Tesla Model Y
"I think traditional auto manufacturers are going to have trouble keeping up with the price declines that Tesla's technology is enabling, Elon Musk "absolutely chose the right technology, and I think others are rethinking it now," Wood said. “If they do not switch over to this kind of battery technology, they will not be able to catch up with Tesla in terms of price declines without losing money — whereas Tesla’s gross margins are probably going to continue moving up on balance, even as it is cutting prices because its unit volumes, the economies of scale, are going to be so significant. said the ARK Invest founder Cathie Wood"
With rough seas behind them, Tesla
can now push full speed ahead in 2023
It should be smooth sailing for Tesla this year with new tax breaks, the Cybertruck production start, the ramping up of Gigafactory Austin & Berlin, new Gigafactory location announcements, and new product announcements. Smooth sailing indeed!
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