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CA Rebate changes from Nov.1st 2016

2545 Views 11 Replies 9 Participants Last post by  Zoder

So as I read this:
If income less than:
Household Size 300% FPL
1 $35,640
2 $48,060
3 $60,480
4 $72,900
5 $85,320
6 $97,740
7 $110,190
8 $122,670

Rebate on Bolt $4500 - Rebate on Volt $3500 (Better by $500 compared to now)

If income higher than above BUT lower than:
$150,000 for single filers
$204,000 for head-of-household filers
$300,000 for joint filers

Your rebate is $2500 for Bolt and $1500 for Volt (Same as now)

If income higher than above:

Your rebate is $0 for Bolt and $0 for Volt (negative for 150k-250k single filers and 300k-500k joint filers).

Did I read this right?

To me this seems overall negative news (especially for Tesla buyers :))
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Most wanted this as the thoughts were "why should we give tax payer money to the rich?"...The debate is it is given as an incentive to advance EV adoption...There are many Tesla owners who could afford Ferraris...
I would think ALL Tesla owners could afford ferraris. :)

But in all honesty going from 500K/250K to 300K/150K is a big drop and will impact close to 90+% of Tesla buyers ( I wonder if Tesla still will continue to "show" prices on their website assuming 10K rebate/tax-break?) and maybe 30-40% of Volt/Bolt buyers (?).

Extra incentive to low income family - I agree with others that they probably can't/won't go for new cars anyway - but I see the point of trying to make up for not being able to take full $7500 federal tax credit in those cases.
Where did you get the stats which state 90+% of Tesla buyers and 30-40% of Volt/Bolt buyers earn more than 250K
You caught me :) - that was my rough estimate (hence "maybe" and "?"). I was just basing it on people who I know own Tesla and Volts.
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