Tesla customers will start losing a $7500 tax credit in 2019

Elon Musk Is None Too Happy That People Are Laughing At His Submarine

Since the vehicle reservations exceeded the company's estimates, Tesla has embarked on an initiative to anti-sell the compact electric auto.

A Tesla spokesman confirmed that the company delivered its 200,000th vehicle in the US this month, so the full $7,500 tax credit will remain in place until December 31. As Tesla wrote in an annual report filed with the US Securities and Exchange Committee in February, its customers get the full $7,500.

Tesla has become the first automaker to hit the tax credit threshold, hitting the 200,000 U.S. deliveries mark and potentially leaving buyers of its EVs hit harder in the wallet depending on when they get their new cars. The credit is cut in half for vehicles delivered January 1 - June 30, 2019, then slashed again to $1,875 for deliveries from July 1 - December 31.

With more than 400,000 customers holding deposits on the Tesla Model 3, many of those customers will likely not receive any federal tax credit.

Hundreds of customers are on the waiting list for the lower-priced Model 3 sedan, which becomes available in 2019, and the reduction of the tax credit could impact some buyers' ability to afford the vehicle. Starting next July, they will be able to get one-fourth the credit. The Model 3, which starts at $35,000, was created to broaden Tesla's customer base beyond the luxury segment and accelerate the pace of electric-vehicle adoption.

Canada part of North Atlantic Treaty Organisation communique affirming defence spending target despite PM's remarks
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Eclipse 2018: Why eager stargazers may be DISAPPOINTED by Friday 13 eclipse
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Tushar Arothe resigns as India women's cricket coach
Arothe, 51, was appointed last April after his predecessor, the former women's captain Purnima Rau, was sacked by the board. India will begin their World T20 campaign in the tournament opener to be held in the West Indies from November 9 to 24.

Tesla opened the taps on Model 3 sales this week by dropping the exclusive reservations list it established past year, allowing anyone in the U.S.to order one of the small sedans with a $2,500 deposit. "Just walk through it", paint shop employee Dennis Duran said he was told by managers.

Another production associate, Mikey Catura, said some employees have developed a "zombie-like" stare after drinking large amounts of Red Bull, provided for free by Tesla, in order to make it through the 12- to 16-hour shifts.

Tesla confirmed to Business Insider that it had passed the 200,000-vehicle threshold.

You can read the full Bloomberg story here.

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