We know that, considering of the Prius’ popularity, Toyota and Lexus hybrid vehicles will lose their IRS tax credits at the end of October. We’ve additionally know it was likely that Honda would finally sell 60,000 hybrids in the U.S. and so start the mandated halving of IRS tax credits .The IRS and Honda have now announced that that has indeed come to pass (61,625 as of the end of July) and so, starting on January 1, 2008, the tax credits will be sliced in half. Until that day, tax credits are as chases:
- Honda Accord Hybrid Model Year 2005 $650
- Honda Accord Hybrid, Model Year 2007 $1,300
- Honda Accord Hybrid Navi Model Year 2007 $1,300
- Honda Civic Hybrid Model Year 2007 $2,100
For the first half of 2008, these credits will be half of the amount listed. In the moment half, take off another 50 percent. Once we get to 2009, unless the laws change, no Honda hybrid will qualify for any IRS tax credits.
Related:
- Year to term sales of hybrid models, Honda shut to 60,000 tax-break limit
- 2008 Mazda Tribute hybrid SUVs will qualify for tax credit
- Where federal rebates for Toyota and Lexus hybrids stand as of Oct. 1, 2006
[Source: IRS, Honda]
Original post by Sebastian Blanco
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