By CCN Markets: Elon Musk is bringing the FOMO, or Fear of Missing Out. The Tesla CEO tweeted out a reminder that federal tax credits for buying a Tesla will drop by half on July 1. He pointed out in another tweet that EV buyers in California will still have the Golden State’s $2,500 tax credit.
US tax credit of $3750 drops in half for Tesla on July 1. Order online in a few mins at https://t.co/46TXqRrsdr. Return in 7 days for full refund.
— Elon Musk (@elonmusk) June 14, 2019
The Tesla Tax Credit Halvening
The current tax credit is half of what it was prior to January 1. Last year, Tesla buyers had a very enticing $7,500 U.S. tax credit for buying an EV.
Elon Musk is one of the world’s most famous engineers and industrialists. But he also managed to encapsulate the perfect car sales pitch in one short tweet:
1. Build value. 2. Create urgency. 3. Answer objections.
The $3,750 federal tax credit for plug-in electric vehicles is a really nice incentive that creates value in a Tesla purchase. Musk was gunning for some FOMO sales by creating urgency. If you wait a month to buy a Tesla, you’ll lose $1,875.
And giving new drivers seven days to test drive their vehicle and return it for a full refund if desired is Tesla’s way of handling objections.
Considering the cars aren’t purchased in a dealership, this overcomes any objections the customer may have. They can just return it if they find they have any.
Musk Pumps Resale Value in California
Earlier this week at the automaker’s annual shareholder meeting in Mountain View, Calif., Elon Musk pumped the FOMO on Tesla resale value as well.
“I think it’s basically financially insane to buy anything except an electric car that is upgradable to autonomy … It’s long term resale value will be less & less … It’s like riding a horse using a flip phone.”—@elonmusk 🐴📞 $TSLA #EV pic.twitter.com/zNqhrW5oua
— Tesla New York (@TeslaNY) June 13, 2019
Regarding autonomous capable…