
Shoppers looking to purchase a Tesla will find that all of the automaker’s electric cars now have an estimated delivery date. For the majority of the brand’s EVs, the estimated delivery is between November and December 2023. The Model X, though, has an estimated delivery date of between January and February 2024.
The Model X's delayed delivery date compared to Tesla’s other electric vehicles could drive some buyers to purchase a unit from Tesla’s inventory. This is especially true for buyers who want to take advantage of the available $7,500 federal tax credit before the end of the year before it changes.
Unfortunately, shoppers looking to purchase a Model X from Tesla’s inventory site are looking at paying a premium for the electric SUV. The most affordable Model X we were able to find in Southern California was a used Model X Dual Motor AWD model with 2,130 miles. It’s currently priced at $83,330. A base Model X Dual Motor AWD model costs $81,380.
Not only will shoppers pay more for a Model X that’s used on Tesla’s inventory site, but they won’t be able to able to take advantage of the federal tax credit. With a MSRP of $79,990 before taxes and delivery, the Model X just squeaks under the federal tax credit limit of $80,000. With a price tag of $83,000 for the most affordable Model X in Tesla’s inventory site, none of the Model X SUVs available on the site are eligible for the federal tax credit.
There’s a lot of uncertainty with eligibility for 2024 regarding EVs. Next year, the criteria for electric vehicles will become stricter, which should see the number of EVs that are eligible for the tax credit decrease. Vehicles that don’t meet the requirements will only be eligible for half of the $7,500 federal tax credit.
The requirement for critical materials used in batteries, which includes materials that are retrieved or recycled within the U.S. or nations that have a free trade agreement with the U.S., will increase 10% to 50% in 2024. Additionally, the percentage of where battery components are manufactured – they have to be made in the U.S. or within nations with a free trade agreement with the U.S. – is also going up next year to 60%.
Interestingly, Tesla talks about possible changes to the federal tax credit on some of its pages. Shoppers who visit the Model 3’s site, for instance, are met with a hefty message about the federal tax credits at the top of the page. “All new Model 3 vehicles currently qualify for a federal tax credit for eligible buyers. “$7,500 tax credit expected to reduce to $3,750 on Dec 31 pending federal guidance,” reads the site.
Tesla doesn’t provide any information on why the federal tax credit is decreasing in 2024. The automaker doesn’t share a lot of information on where batteries are manufactured or the breakdown on where the materials come from – Tesla is one of the few automakers that doesn’t provide information on battery capacity or power figures – for its EVs.
With shoppers required to take delivery of one of Tesla’s EVs before December 31, 2023, it seems like Model X shoppers may have missed out on the full $7,500 federal tax credit.
Pictured: Tesla Model X