New energy bill means bigger tax credits for hybrids
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New energy bill means bigger tax credits for hybrids
Toyota Motor Corp.'s and Ford Motor Co.'s gasoline-electric autos will qualify for the largest U.S. tax credits when new federal incentives for such vehicles take effect in 2006, according to a study by an energy policy group.
The $286.5-billion transit bill signed into law Wednesday by President George W. Bush includes incentives to encourage sales of fuel-efficient, low-exhaust autos. Buyers of Toyota's Prius hybrid should get a $3,150 credit next year, the most for any vehicle, while its hybrid Highlander sport-utility vehicle and Ford's hybrid Escape SUV should receive $2,600, the American Council for an Energy-Efficient Economy said in a statement Friday.
Other models benefiting from the tax rules that take effect Jan. 1, 2006, include Honda Motor Co.'s Civic Hybrid, which will receive a $2,100 credit, its Insight hybrid that qualifies for up to $1,450, and the Accord Hybrid, which should receive $650, said James Kliesch, a spokesman for the Washington-based energy group. General Motors Corp.'s so-called mild hybrid Silverado and Sierra pickup trucks might qualify for a $250 credit.
http://www.freep.com/money/autonews/...e_20050813.htm
The $286.5-billion transit bill signed into law Wednesday by President George W. Bush includes incentives to encourage sales of fuel-efficient, low-exhaust autos. Buyers of Toyota's Prius hybrid should get a $3,150 credit next year, the most for any vehicle, while its hybrid Highlander sport-utility vehicle and Ford's hybrid Escape SUV should receive $2,600, the American Council for an Energy-Efficient Economy said in a statement Friday.
Other models benefiting from the tax rules that take effect Jan. 1, 2006, include Honda Motor Co.'s Civic Hybrid, which will receive a $2,100 credit, its Insight hybrid that qualifies for up to $1,450, and the Accord Hybrid, which should receive $650, said James Kliesch, a spokesman for the Washington-based energy group. General Motors Corp.'s so-called mild hybrid Silverado and Sierra pickup trucks might qualify for a $250 credit.
http://www.freep.com/money/autonews/...e_20050813.htm