I believe the Honda credit is cut in half for this quarter. - GreenHybrid

idareu · #1 (**permalink**) 11-15-2007, 01:56 PM

Is it?

GotIng · #2 (**permalink**) 11-15-2007, 08:34 PM

I dont think so. I did some research here and there and I think its still $2100

AJR · #3 (**permalink**) 11-16-2007, 12:45 AM

I'm surprised that after the 40+ cent hike in gas in the last 30-45 days that hybrid sales aren't on a sharp rise which would push the HCH over the 60K mark. I guess it doesn't help that the economy is in the crapper right now so not many can afford a new car!

noflash · #4 (**permalink**) 11-16-2007, 08:16 AM

Quote:

Originally Posted by Soybean

Right. The quarter AFTER the quarter in which the 60,000th hybrid is sold is the last in which you can receive the full tax credit. For the 2nd and 3rd quarters after the threshold is reached, you get 50% of the credit. For the 4th and 5th quarters after the threshold is reached, you get 25%. Then nothing!

Apparently Honda hit 60,000 in the third quarter, which means you'll still get the full credit this quarter. But on Jan. 1, 2008, it goes to half:

http://www.eere.energy.gov/news/news.../news_id=11246

For the lazy newbie.

1stpik · #5 (**permalink**) 11-21-2007, 06:33 AM

TOYOTA HYBRID TAX CREDIT EXPIRES

The Internal Revenue Service has discontinued the federal tax credits for Toyota hybrid vehicles—including the flagship Prius—as of Oct. 1, 2007. Toyota Motor Corporation hit a legal cap in the number of vehicles sold that can offer the credit. Only hybrids purchased before the Oct. 1 deadline are now eligible for the incentive.

According to IRS rules, tax credits for new hybrid vehicles phase out when an automaker sells 60,000 hybrids. Toyota hit the magic number last summer, which initiated the beginning of the process.

Honda recently reached the mark of 60,000 hybrids sold, and will now start their phase-out next year.

GM, Ford, and Nissan are not expected to reach cap before 2009 when the incentive laws will be reconsidered or entirely discontinued.

aha · #6 (**permalink**) 12-01-2007, 05:57 PM

$2100 tax credit is still available for HCHII, at least according to the advertisement on TV just now.

WildViper · #7 (**permalink**) 12-02-2007, 09:43 PM

Here is a link from the "Horse's" mouth per se:

http://www.irs.gov/newsroom/article/...175828,00.html

GotIng · #8 (**permalink**) 12-05-2007, 02:35 PM

yah!!!!!!!!! I was right!!!!