Hybrid Car Credits Running on Empty

Posted by accountingweb on Mar 6 2007 347 printer friendly

With Honda reportedly close to selling its 60,000th hybrid car, the credits for purchasing Honda hybrids could soon be cut in half.

If Honda hits the IRS threshold before the end of March, the credit will be cut in half beginning July 1, 2007. If it hits the threshold in April, May, or June, the credit will be cut in half beginning October 1, 2007.

The credits for purchasing Toyota and Lexus hybrids already have been reduced by half and will be halved again beginning April 1, 2007.

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