Tesla share crash... who woulda thunk?

Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.

The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.

Looks like Elon Musk is going down in flames!
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TheSteve - 11/4/2017 6:16:28 AM

+1 Boost

It could be temporary. It has already clawed back a few points in just one day. Do underestimate those believers. I'm not one of them.

TheSteve - 11/4/2017 6:17:03 AM

+1 Boost

(should have read "...do *NOT* underestimate...")

Tiberius1701A - 11/4/2017 9:22:49 AM

+1 Boost

I believe this is just the beginning. Elon The Con's house of cards is beginning to implode.

CANADIANCOMMENTS - 11/4/2017 1:07:14 PM

+1 Boost

Nobody who can buy a Model S or X really cares about the rebate. It is nice, but if it as gone, there will not be anyone cancelling an order. Some Model 3 buyers may feel a pinch as the $7,500 credit is a larger percentage of the purchase price of the car. Personally I would offer any incentive to a hybrid or BEV buyer on a vehicle over $50k in value. Better yet eliminate it as you are just funding wealthy people and most governments are running deficits and have large debts to begin with.

vdiv - 11/5/2017 9:40:50 AM

+2 Boost

Hybrids were offered a tax credit (not a rebate) in 2005, up to $3,400 until the manufacturer sold 60,000 units. That credit has since expired for most automakers.

TomM - 11/5/2017 12:38:37 PM

0 Boost

People who NEVER actually get the car - never get the rebate - so there will be thousands who will never get the car in time. Either being green is worth it or it is not. If the only reason to buy a Tesla is the rebate - we would save more money by not giving the rebates.