Tesla’s electric car deliveries hit 244,920 in 2018, up 138% from 2017, driven by a surge in Model 3 sales. The success has triggered a phase-out of a $7,500 federal tax credit for buying a new plug-in car.The tax credit is halved to $3,750 once manufacturers reach a 200,000 delivery threshold, a point that Tesla reached in July 2018. Tesla’s chief executive Elon Musk announced a $2,000 price cut to all its vehicles in the US amid concerns that sales of its $35,000 Model 3 would suffer. Analysts estimate that the Model 3 costs as much as $42,000 to build.
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