Tax Credits on a new Hybrid - GreenHybrid

scubasid · #1 (**permalink**) 10-05-2008, 02:36 PM

With HONDA coming out with its new INSIGHT in 09 some time in APRIL. Does any one know if it will be in line to get a tax Credit. ( if so how much and for how many Vehicles sold )
Im not positive how the credits work, is it per model Hybrid vehicle or is it for the Total amount of Hybrids a manufacturers makes.

MikeD · #2 (**permalink**) 10-05-2008, 08:46 PM

The tax credits work based on the number of qualifying cars sold by the manufacturer. Once the manufacturer sells 60,000 units, the phase out period begins. Honda has already passed the 60,000 mark and the phase out period will be over for anyone buying a Honda hybrid by the time the new Insight comes out.

To be more specific, the phase out period for Honda buyers started in January, 2008. From January to June 30, the tax credits were halved. From July 1st to Dec 31st, 2008, the tax credits were one-fourth the full tax credit. On Jan 1, 2009, there will be no tax credits available for anyone buying a Honda hybrid.

allan473 · #3 (**permalink**) 11-01-2008, 03:39 PM

Does anyone know about tax credits on the Ford Escape hybrid

MikeD · #4 (**permalink**) 11-01-2008, 04:18 PM

Yes, people who buy the Ford Escape Hybrid are still eligible for the tax credit. I don't know what the 2009 model is eligible for, but the 2008 model year is at least $2200. That's only if you qualify for it, though.

More information:
(My site, btw) http://hybridreview.blogspot.com/200...-for-2007.html