Show attendees look over a Chevrolet Bolt EV electric vehicle at the North American International Auto Show in Detroit, US. -Reuters
Some potential buyers of Tesla's long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co's Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with GM dealers. Last week Tesla told some holders of Model 3 reservations that they would not get their cars until 2019, eliciting howls of complaint on Tesla online fan forums. Tesla declined to comment.
GM dealers in California, the top U.S. market for electric vehicles, say brisk demand for Bolts is driven in part by frustrated Tesla buyers who are afraid they will lose a $7,500 electric vehicle tax credit if they wait. The tax credit drops in value and eventually disappears once Tesla sells 200,000 electric vehicles in the United States, which Edmunds analyst Jeremy Acevedo expects Tesla to hit by the fall.
-Reuters, San Francisco
Latest News