Connect with us
tesla sales tesla sales

News

IRA EV tax credits winning over more auto dealers in 2024

Met God in Wilderness/YouTube

Published

on

According to the United States (US) Treasury Department, more auto dealers are signing up for the point-of-sale electric vehicle tax credit. 

In November 2023, the US Treasury announced that car dealers would receive direct tax credit payments, enabling them to offer customers immediate rebates at the point of sale. The Biden administration believes the initiative will help car dealers grow their business.

“Starting January 1, 2024, consumers will be able to choose to transfer their new clean vehicle credit of up to $7,500 and their previously owned clean vehicle credit of up to $4,000 to a registered car dealer. This provision of the Inflation Reduction Act (IRA) will effectively lower the vehicle’s purchase price by providing consumers with an upfront down payment on their clean vehicle at the point of sale rather than having to wait to claim their credit on their tax return the next year. Only vehicles purchased under the consumer clean vehicle credits are eligible for this benefit,” announced the US Department of Treasury.

In early December 2023, around 7,000 auto dealers signed up for the point-of-sale electric vehicle tax credit. Before the end of December 2023, 400 more dealerships signed up, increasing the number to 7,400. More than 1,000 auto dealers signed up for the initiative after it took effect on January 1, 2024. By Friday, January 5, 2024, the US Treasury reported over 8,700 dealers joined the point-of-sale electric vehicle tax credit initiative, reported The Hill.

The US Treasury and Internal Revenue Service (IRS) opened the IRS Energy Credits Online (ECO) portal to help dealerships implement the immediate rebate initiative and receive direct tax credit payments faster. Auto dealers will have a deadline of three days from the time of sale to submit a time-of-sale report. As of this writing, however, the IRS has extended the deadline for time-of-sale reports until January 16, 2024, to allow dealers to get used to the IRS ECO portal. 

Advertisement
-->

Interestingly enough, around the same time, the Biden administration rolled out its direct tax credit payments plan to auto dealers, over 3,000 dealerships signed a letter addressed to President Biden telling him that “enthusiasm has stalled” for electric vehicles.

“Last year, there was a lot of hope and hype about EVs. Early adopters formed an initial line and were ready to buy these vehicles as soon as we had them to sell. But that enthusiasm has stalled. Today, the supply of unsold BEVs is surging, as they are not selling nearly as fast as they are arriving at our dealerships — even with deep price cuts, manufacturer incentives, and generous government incentives,” said the letter.

Despite the letter’s words, auto dealers still seem willing to sell electric vehicles. The direct tax credit payments plan appears to have swayed some dealerships to keep selling electric cars, as it does address one of the main consumer concerns mentioned in the letter. In the letter to President Biden, dealerships claimed consumers thought EVs were not affordable

If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.

Advertisement
-->

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

Advertisement
Comments

News

Elon Musk makes a key Tesla Optimus detail official

“Since we are naming the singular, we will also name the plural, so Optimi it is,” Musk wrote on X.

Published

on

Credit: Tesla/YouTube

Tesla CEO Elon Musk just made a key detail about Optimus official. In a post on X, the CEO clarified some key wording about Optimus, which should help the media and the public become more familiar with the humanoid robot. 

Elon Musk makes Optimus’ plural term official

Elon Musk posted a number of Optimus-related posts on X this weekend. On Saturday, he stated that Optimus would be the Von Neumann probe, a machine that could eventually be capable of replicating itself. This capability, it seems, would be the key to Tesla achieving Elon Musk’s ambitious Optimus production targets. 

Amidst the conversations about Optimus on X, a user of the social media platform asked the CEO what the plural term for the humanoid robot will be. As per Musk, Tesla will be setting the plural term for Optimus since the company also decided on the robot’s singular term. “Since we are naming the singular, we will also name the plural, so Optimi it is,” Musk wrote in his reply on X. 

This makes it official. For media outlets such as Teslarati, numerous Optimus bots are now called Optimi. It rolls off the tongue pretty well, too. 

Optimi will be a common sight worldwide

While Musk’s comment may seem pretty mundane to some, it is actually very important. Optimus is intended to be Tesla’s highest volume product, with the CEO estimating that the humanoid robot could eventually see annual production rates in the hundreds of millions, perhaps even more. Since Optimi will be a very common sight worldwide, it is good that people can now get used to terms describing the humanoid robot. 

Advertisement
-->

During the Tesla 2025 Annual Shareholder Meeting, Musk stated that the humanoid robot will see “the fastest production ramp of any product of any large complex manufactured product ever,” starting with a one-million-Optimi-per-year production line at the Fremont Factory. Giga Texas would get an even bigger Optimus production line, which should be capable of producing tens of millions of Optimi per year. 

Continue Reading

News

Tesla is improving Giga Berlin’s free “Giga Train” service for employees

With this initiative, Tesla aims to boost the number of Gigafactory Berlin employees commuting by rail while keeping the shuttle free for all riders.

Published

on

Credit: Jürgen Stegemann/LinkedIn

Tesla will expand its factory shuttle service in Germany beginning January 4, adding direct rail trips from Berlin Ostbahnhof to Giga Berlin-Brandenburg in Grünheide.

With this initiative, Tesla aims to boost the number of Gigafactory Berlin employees commuting by rail while keeping the shuttle free for all riders.

New shuttle route

As noted in a report from rbb24, the updated service, which will start January 4, will run between the Berlin Ostbahnhof East Station and the Erkner Station at the Gigafactory Berlin complex. Tesla stated that the timetable mirrors shift changes for the facility’s employees, and similar to before, the service will be completely free. The train will offer six direct trips per day as well.

“The service includes six daily trips, which also cover our shift times. The trains will run between Berlin Ostbahnhof (with a stop at Ostkreuz) and Erkner station to the Gigafactory,” Tesla Germany stated.

Even with construction continuing at Fangschleuse and Köpenick stations, the company said the route has been optimized to maintain a predictable 35-minute travel time. The update follows earlier phases of Tesla’s “Giga Train” program, which initially connected Erkner to the factory grounds before expanding to Berlin-Lichtenberg.

Advertisement
-->

Tesla pushes for majority rail commuting

Tesla began production at Grünheide in March 2022, and the factory’s workforce has since grown to around 11,500 employees, with an estimated 60% commuting from Berlin. The facility produces the Model Y, Tesla’s best-selling vehicle, for both Germany and other territories.

The company has repeatedly emphasized its goal of having more than half its staff use public transportation rather than cars, positioning the shuttle as a key part of that initiative. In keeping with the factory’s sustainability focus, Tesla continues to allow even non-employees to ride the shuttle free of charge, making it a broader mobility option for the area.

Continue Reading

News

Tesla Model 3 and Model Y dominate China’s real-world efficiency tests

The Tesla Model 3 posted 20.8 kWh/100 km while the Model Y followed closely at 21.8 kWh/100 km.

Published

on

Credit: Grok Imagine

Tesla’s Model 3 and Model Y once again led the field in a new real-world energy-consumption test conducted by China’s Autohome, outperforming numerous rival electric vehicles in controlled conditions. 

The results, which placed both Teslas in the top two spots, prompted Xiaomi CEO Lei Jun to acknowledge Tesla’s efficiency advantage while noting that his company’s vehicles will continue refining its own models to close the gap.

Tesla secures top efficiency results

Autohome’s evaluation placed all vehicles under identical conditions, such as a full 375-kg load, cabin temperature fixed at 24°C on automatic climate control, and a steady cruising speed of 120 km/h. In this environment, the Tesla Model 3 posted 20.8 kWh/100 km while the Model Y followed closely at 21.8 kWh/100 km, as noted in a Sina News report. 

These figures positioned Tesla’s vehicles firmly at the top of the ranking and highlighted their continued leadership in long-range efficiency. The test also highlighted how drivetrain optimization, software management, and aerodynamic profiles remain key differentiators in high-speed, cold-weather scenarios where many electric cars struggle to maintain low consumption.

Xiaomi’s Lei Jun pledges to continue learning from Tesla

Following the results, Xiaomi CEO Lei Jun noted that the Xiaomi SU7 actually performed well overall but naturally consumed more energy due to its larger C-segment footprint and higher specification. He reiterated that factors such as size and weight contributed to the difference in real-world consumption compared to Tesla. Still, the executive noted that Xiaomi will continue to learn from the veteran EV maker. 

“The Xiaomi SU7’s energy consumption performance is also very good; you can take a closer look. The fact that its test results are weaker than Tesla’s is partly due to objective reasons: the Xiaomi SU7 is a C-segment car, larger and with higher specifications, making it heavier and naturally increasing energy consumption. Of course, we will continue to learn from Tesla and further optimize its energy consumption performance!” Lei Jun wrote in a post on Weibo.

Advertisement
-->

Lei Jun has repeatedly described Tesla as the global benchmark for EV efficiency, previously stating that Xiaomi may require three to five years to match its leadership. He has also been very supportive of FSD, even testing the system in the United States.

Continue Reading