EV prices may be a concern to customers, particularly coupled with high interest rates. Though its Model Y was a bestseller this year, Tesla did report slower sales in its third quarter. It’s also been discounting its models this year, and recently announced even more price cuts—increasing competition with other automakers. (Its Model 3, though, is soon set to lose its incentives.) While there are tax credits available for many electric vehicles, those credits are expected to become easier to get in 2024, thanks to a Department of Treasury proposal that would let customers get those tax breaks—up to $7,500 for new EVs and $4,000 for used ones—at the point of sale.
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