Report: U.S. will not receive tax credits for hybrids after December 31

Article by Christian Andrei, on December 17, 2010

Time is quickly running out for those who have been contemplating to buy a hybrid and hoping to get the tax credit. On Dec. 31, 2010, Energy Policy Act of 2005 is set to end. According to a report by KicingTires, there are no plans to establish a new incentive plan for next year.

The ending of this law affects the hybrid market and some diesel cars. And the compressed-natural-gas-powered 2011 Honda Civic GX will also lose the $4,000 tax incentive.

It should be noted too that the tax credits for electric vehicles such as the Chevrolet Volt and Nissan Leaf will remain since they are not covered by the said law.

As we bid goodbye to 2010, hybrids that have been getting tax breaks from $900 up to $3,400 will also end. The models that are expected to suffer the most are the newly launched ones such as the 2011 Hyundai Sonata Hybrid and the 2011 Porsche Cayenne S Hybrid.

But actually, several carmakers have already stopped offering tax credits since regulations state that they’re only applicable for the first 60,000 hybrid models made by each company.

The automakers whose tax credits have ended include Honda, Toyota, Volkswagen, Audi, Lexus, Ford, Mercury and Lincoln. [via kickingtires]

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Off-road driving with an open air vehicle provides another kind of experience for many off-road enthusiasts and fans. For this sake, Ford is planning to offer a version of the...
by - January 16, 2017
For those who love driving, future autonomous cars should be like the Toyota Concept-i that is drawing in a multitude of visitors at the 2017 Consumer Electronics Show in Las...
by - January 15, 2017
Things are looking good at Rolls-Royce Motor Cars as the British luxury carmaker impressed by posting a six-percent jump in deliveries in 2016. Rolls-Royce’s 2016 deliveries of 4,011 units in...
by - January 15, 2017
British luxury sports car maker Jaguar is introducing a bevy of subtle updates to the 2018 Jaguar F-Type Facelift. However, these updates are so subtle that they are barely noticeable...
by - January 14, 2017
As far as Automobili Lamborghini S.p.A. is concerned, 2016 was a very fruitful year. This is all due to the fact that the luxury sports carmaker has delivered the most...
by - January 14, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries