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Trapdoor Opens on Hybrid Credit

Get these tax credits while they last.

In August, Honda sold its 60,000th hybrid vehicle. That means the clock has started ticking on the phase-out, and eventual end, of credits for people who buy a Honda hybrid, according to the New York Times. Hybrid tax credits were part of the Energy Policy Act of 2005.

The 2007 Accord Hybrid qualifies for a $1,300 credit and the Civic Hybrid for $2,100. (Some earlier models still qualify technically for the credit, but it’s only for the vehicle’s original owner; credits are not available for pre-owned cars.)

However, the Energy Policy Act sets a limit on the number of hybrids eligible. Once an automaker sells its 60,000th hybrid (all hybrid models combined), the tax credit begins to fade.

Posted by Peter C. T. Elsworth  at 4:39 PM to Alternative fuels , Honda | Permalink

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