The federal tax credit for Tesla buyers falls by 50% on Monday and will be eliminated altogether at the start of 2020
The reduction of the tax credit makes buying a Tesla more expensive, because the credit reduces the federal tax bill for buyers. So Tesla could suffer a drop in sales or feel pressure to cut prices, either of which would be bad news for a company struggling to return to profitability. "When Tesla loses any part of that credit, it undeniably loses a segment of its customer base," said Karl Brauer, executive publisher of Kelley Blue Book.
— Elon Musk June 14, 2019 The slow demise of the tax credit puts Tesla in a squeeze. The December sales push, for instance, encouraged some people to buy, but that then contributed to a big drop in sales in the first quarter of 2019. In early January, Tesla announced a $2,000 price cut, but that hurt profits and Tesla lost money in the first quarter after a pair of profitable quarters.
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