Tesla customers can now benefit from a $7,500 federal EV tax credit on Cybertruck purchases, provided they meet the eligibility criteria.
Eligibility and Pricing
The 2025 all-wheel drive variant of the Cybertruck is eligible for the tax credit. With a purchase price that does not exceed $80,000 and meeting the gross income limitations, customers can own the truck for $72,490. The all-wheel drive version of the Cybertruck starts at $79,990 without the tax credit.
Variants and Eligibility
- The all-wheel drive variant of the Cybertruck is eligible for the tax credit.
- The Cyberbeast variant, starting at $99,990, exceeds the price bar for eligibility.
- The single-motor variant of the Cybertruck is also eligible, but production has not started yet. The rear-wheel drive single-motor variant will start at $53,490 after the tax credit once delivery begins.
Broader Impact
All variants of the Model Y and Model 3, as well as the Model X all-wheel drive variant sold in the U.S., are currently eligible for $7,500 electric vehicle consumer tax credits. However, the existence of these credits is under question, with plans to potentially end the $7,500 consumer tax credit for electric vehicle purchases as part of broader tax-reform legislation.
Tesla’s Stance
Tesla CEO Elon Musk has expressed support for ending all government subsidies, including those for EVs, oil, and gas. Musk believes that the impact of eliminating subsidies would be slight for Tesla but devastating for its competitors, potentially helping Tesla in the long term.
Conclusion
The introduction of the $7,500 tax credit for the Cybertruck presents an opportunity for customers to save on their purchase. However, the future of electric vehicle tax credits remains uncertain, with potential changes to tax-reform legislation that could impact the industry as a whole.