Are order conversion rates absolutely horrific?

[TaxmanHog]

We can just hope the IRS changes this number to above $90k since the prices have increased so much for the batteries.

The IRS can not change the conditions of the law, ..... the law must be changed by congress.

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[lakeguy55]

Getting back to the original topic, any insights on the cancellation / conversion rates during this current wave, especially given the flip market seems to be slowing.

 

[IdeaOfTheDayCom]

How on earth could I already be up again? There is ZERO chance they have shipped 100,000 lightings, let alone the ~125,000 needed for my number to be up again with a poor 50% conversion rate.

Did tens of thousands of reservation holders bail once the full rebate wasn't available? Did most everyone want the Pro trim and cancel when they couldn't get it the way they wanted?

The biggest factor is definitely the location and the dealer's allocation.

My dealer gets huge allocations, but if I selected a dealer just 12 miles from me, they're only getting 3 for 2022 and most likely 3 for 2023. As soon as their 4th order comes in, it was already a year later than somebody who selected my dealer months later.

I think they should eliminate the whole allocation system for web reservations. It's unfair to the customer who is unaware how their choice of dealer will affect their delivery schedule.

 

[greenne]

I do not like to bring unfortunate news, but the latest irs.gov link which I read in-depth and confirmed with my CPA is that you will not be eligible for the $7500 if your sticker price is above $80k. There are a few other specifics too, which involve single & married gross income, but the Lariat ER is now well above that $. We can just hope Congress changes this number to above $90k since the prices have increased so much for the batteries.

What link are you referring to?

 

[tubby]

To be eligible for the credits under these provisions, vans, sport utility vehicles, and pickup trucks must meet the additional requirements of not having a manufacturer suggested retail price (MSRP) above $80,000, and all other vehicles may not have an MSRP above $55,000. Additionally, the eligibility of individuals for the tax credit is further limited by thresholds for modified adjusted gross income (MAGI); only individuals having a MAGI below the following thresholds are eligible for the tax credit:
https://afdc.energy.gov/laws/409

 

[greenne]

To be eligible for the credits under these provisions, vans, sport utility vehicles, and pickup trucks must meet the additional requirements of not having a manufacturer suggested retail price (MSRP) above $80,000, and all other vehicles may not have an MSRP above $55,000. Additionally, the eligibility of individuals for the tax credit is further limited by thresholds for modified adjusted gross income (MAGI); only individuals having a MAGI below the following thresholds are eligible for the tax credit:
https://afdc.energy.gov/laws/409

This is the same information released previously.

Your CPA may indeed be right, but I also think this alone is insufficient to make decisions upon how the IRS is going to apply the MSRP requirement. At the very least I would require the IRS to define what MSRP is(ex. Does it include Destination and Delivery, Does it include options?).

To make a decision based upon information is in my opinion premature without guidance and *IF* my CPA was to make a decision based upon what we know right now, I wouldn't be giving him/her my business anymore. Ambiguity/Inference and taxes don't mix.....

PS-- The IRS has not released final guidance on this issue. To make a judgement call before such guidance is released is careless, IMO.

 

[jimfigler]

To be eligible for the credits under these provisions, vans, sport utility vehicles, and pickup trucks must meet the additional requirements of not having a manufacturer suggested retail price (MSRP) above $80,000, and all other vehicles may not have an MSRP above $55,000. Additionally, the eligibility of individuals for the tax credit is further limited by thresholds for modified adjusted gross income (MAGI); only individuals having a MAGI below the following thresholds are eligible for the tax credit:
https://afdc.energy.gov/laws/409

We have all know this since August.

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