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Electric vehicle maker Tesla dropped some of its car prices by nearly 20%

The Tesla website now lists the 7-seat Model Y Long Range starting at $52,990.

AUSTIN, Texas — Electric vehicle maker Tesla dropped some of its car prices. For instance, the Tesla website now shows the Model Y fell nearly 20%. 

Earlier this month, KVUE told you how some Tesla vehicles may not qualify for a federal clean vehicles tax credit.

The Internal Revenue Service (IRS) shows some of Tesla's 5-seat Model Ys must be less than $55,000. The Tesla website now lists the 5-seat Model Y Performance option starting at $56,990.

The 7-seat Model Y must be less than $80,000. The Tesla website lists the 7-seat Model Y Long Range starting at $52,990. Models must be under $55,000 and others have a price cap at $80,000.

The IRS has income limits on the tax credit.

The credit must be for personal use primarily in the U.S. Income limits show modified adjusted gross income (AGI) may not exceed:

  • $300,000 for married couples filing jointly 
  • $225,000 for heads of households
  • $150,000 for all other filers
  • The IRS website has more information on the clean vehicle tax credit, including a list of other manufacturers

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