Daily Management Review

Tesla Will Compensate Customers For Missed Tax Credits: Elon Musk


12/25/2018




Tesla Will Compensate Customers For Missed Tax Credits: Elon Musk
In case there is any delay in the delivery of electric vehicles to customers manufactured by the US electric vehicles make Tesla and if such a delay results in the customers missing out on a significant tax credit by the US government, the car maker would compensate and reimburse the customers, said Tesla chief executive Elon Musk.
 
Customers of electric vehicles in the United States are entitled to be given an incentive to purchase more such zero pollution vehicles by way of tax credits that lower the cost of electric vehicles. But according to one of the most important changes brought in to the regulation and passed by the Republican-controlled US Congress late last year, such incentives are made available to customers for the first 200,000 electric vehicles that are sold by any electric car maker. After the first 200,000 electric vehicles, every six months that tax credit incentive is to be reduced by 50 per cent every till such time that the tax credit phases out.
 
The full tax credit of $7,500 for customers would be given by Tesla for all those who had placed their orders by October 15, the company had said earlier this year. The company had also assured that by the end of the current year, all such customers would get deliveries of their cars. The tax credit for Tesla customers would drop to $3,750 starting January 1, 2019, under the rules of the tax incentive.
 
Some of the customers who had not received the cars from Tesla despite booking within the scheduled time had taken to the social media to complain about the delay, the lack of communication from the company and their chances of missing out on the full tax credit because there are just a few days left for end of 2018 and the tax credits dropping by 50 per cent from January 1, 2019.
 
Musk was approached over Twitter by a customer who asked the Tesla CEO about what would happen if the cars were not delivered by the car maker within the time frame to avail the tax credits. Replying to the tweet, Musk replied: “If Tesla committed delivery & customer made good faith efforts to receive before year end, Tesla will cover the tax credit difference.”
 
 
On Saturday, Musk further added on Twitter that the company is in a position to be able to deliver all the customers who have placed orders within the time frame by the end of the year for all of its mid-range Model 3 cars which is a mass-market sedan that Tesla is hopeful that will drive the company to success and profits.
 
(Source:www.tribune.com.pk)






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