Don't worry if the lack of a federal tax credit put you off from buying certain Tesla Model Y variants or other EVs — they might now qualify. The Treasury Department has revised its classification standard to treat more vehicles as SUVs rather than sedans, raising the price threshold from $55,000 to $80,000 and making more EVs eligible for the Internal Revenue Service's (IRS) full $7,500 credit under the Inflation Reduction Act. As Autoblogexplains, that should cover five-seat versions of the Model Y (only seven-seaters qualified before) as well as the Cadillac Lyriq, Ford Mustang Mach-E, Ford Escape Plug-in Hybrid and VW ID.4.
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Tesla's five-seat Model Y and other EVs now qualify for the new $7,500 federal tax
6th February 2023, 06:48
Tesla's five-seat Model Y and other EVs now qualify for the new $7,500 federal tax 
