As Tesla hit a major milestone in the number of cars sold, your final price for that new Model 3 is about to go up.

Tesla has sold its 200,000th car. While this is a momentous milestone for the company, it also means that the federal tax incentives for purchasing a vehicle from the company will slowly be phased out.

Here is how the next 19 months will shape up for potential buyers.

Federal Tax Credit For Vehicles Delivered
$7,500 On or before December 31, 2018
$3,750 January 1 to June 30, 2019
$1,875 July 1 to December 31, 2019

After Dec. 31, 2019, the federal tax credit will disappear completely.

This reduction of the federal incentive as on a per manufacturer basis, so as any company hits 200,000 cars sold the same thing will happen. With Tesla producing nothing but electric vehicles, it was fairly inevitable that it would be the first one to hit this issue.

This tax reduction extends across all models, so if there is any Tesla you’ve had your eye on, no would definitely be the time to look into purchasing it.

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