SYNDICATED NEWS
PHOTO CAPTION: The 2009 Volkswagen Jetta diesel qualifies for $1,300 federal tax credit.

Clock Is Ticking on Last of Hybrid Car Tax Breaks

Manufacturers currently offering full tax credits for their hybrids include General Motors Corp. and Ford Motor Co.

Published: 07-Nov-2008

The clock is ticking. Car buyers have until the end of the year to get a tax credit for buying a Honda Civic hybrid, one of the more popular fuel-saving vehicles on the market.

The dying tax credit is the latest in a series of changes chipping away at the financial incentives to buy a hybrid. Tax breaks tied to Toyota Motor Corp.'s strong-selling Prius, which gets about 46 miles a gallon, and its other hybrid models ended about a year ago. Now, the federal government is phasing out the same incentives on Honda Motor Co.'s Civic hybrid, which gets 42 miles a gallon.

Combine that with the fact that fuel prices have fallen from their historic highs above $4 a gallon this summer, and it's getting a lot more expensive to be an environmentally conscious driver.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

Company rolls out plug-in Prius at Torrance operations, noting that in the electric-only mode total miles per gallon will far exceed the estimated 48 MPG enjoyed by the standard Prius.

Cadillac's new Escalade Hybrid should get up to 50 percent better fuel economy in the city and 20 percent better fuel economy on the highway.

Altima Hybrid is estimated to have a hybrid system net power rating of 198 horsepower (148 kW). EPA fuel economy is estimated at 35 mpg City and 33 mpg Highway.

READER COMMENTS

blog comments powered by Disqus