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Canada Budget 2007 = Hybrid Rebate

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Old 03-19-2007, 01:51 PM
LynchMob's Avatar
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Default Canada Budget 2007 = Hybrid Rebate

Hot off the press...Unfortunately it isn't retroactive


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New Rebate for Fuel-Efficient Vehicles

Manufacturers now offer a number of vehicles that are eligible for the performance-based rebate program. Current models qualifying for the rebate will include hybrid electric vehicles, conventional fuel efficient vehicles and the most efficient of the E-85 fuel and flex fuel vehicles. The list of eligible vehicles will be established by Transport Canada by combining the city and highway fuel-efficiency ratings.
The thresholds will be based on a combined 55 per cent city and 45 per cent highway rating. Initially, new automobiles with a combined fuel consumption rating of 6.5 L/100 km or less and minivans, sport utility vehicles (SUVs) and other light trucks with fuel consumption of 8.3 L/100 km or less will be eligible for a rebate. These thresholds will be reviewed periodically. The basic rebate amount will be $1,000, and an additional $500 will be added for each half litre per 100 km improvement in the combined fuel-efficiency rating of the vehicle below these thresholds. The maximum rebate value will be $2,000. Efficient E-85 fuel vehicles will be eligible for a rebate of $1,000. Eligible new vehicle purchases or leases as of March 20, 2007, will qualify for the rebate.
Ford Escape HEV
Rebate: $2000
2.3 L, 4 cylinder
Continuously Variable Transmission
CFCR = 6.6 L/100 km
Ford Escape HEV 4X4
Rebate: $1500
2.3 L, 4 cylinder
Continuously Variable Transmission
CFCR = 7.4 L/100 km

More information on the program, including the vehicles eligible for the rebate, will be published on Transport Canada’s website (www.tc.gc.ca). The lists of eligible vehicles will be updated as information on new vehicle fuel-efficiency ratings becomes available. Consumers purchasing or leasing (long-term leasing for a period of at least 12 months) an eligible vehicle should keep a proof of purchase or a copy of the lease agreement. Consumers will be asked to show proof of registration, in Canada, of the new vehicle. While the introduction of rebates for eligible fuel-efficient vehicles is proposed to take effect March 20, 2007, the payment of rebates will be made once administration and delivery systems have been put in place. The Government is aiming to make rebate payments by fall 2007. Budget 2007 commits $160 million over the next two years to provide the performance-based rebate.
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It's interesting to note that the rebate can be used in conjunction with provincial rebates.

More information here Transport Canada ecoAuto Program
 

Last edited by LynchMob; 03-19-2007 at 02:23 PM.
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