IRS tax credits for Honda hybrids will be halved January 1st

by Sebastian Blanco (RSS feed) on Sep 5th 2007 at 1:14PM

We know that, because of the Prius' popularity, Toyota and Lexus hybrid vehicles will lose their IRS tax credits at the ~~end~~ beginning of October. We've also know it was likely that Honda would finally sell 60,000 hybrids in the U.S. and so begin the mandated halving of IRS tax credits .The IRS and Honda have now announced that this 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 follows:

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 second 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:

[Source: IRS, Honda]

Filed under: Hybrid, Honda

Tags: accord irs, accord tax credit, AccordIrs, AccordTaxCredit, honda accord hybrid, honda hybrid tax credit, honda irs, honda tax credit, HondaAccordHybrid, HondaHybridTaxCredit, HondaIrs, HondaTaxCredit, hybrid irs, hybrid tax credit, HybridIrs, HybridTaxCredit

Reader Comments (Page 1 of 1)

scappy 3:20PM (9/05/2007)

I still don't agree with Hybrid tax breaks. Hybrid drivers already get a break, better gas mileage over a comparably sized vehicle. My biggest problem with them is the tax breaks going to the larger vehicles like the escape, highlander, rx, etc. Why reward someone for buying a vehicle that is still getting about 20 mpg.

↓↑report

SolarDave 4:04PM (9/05/2007)

Toyota hybrid tax breaks end at the end of September, not October.

↓↑report

Sebastian 5:25PM (9/05/2007)

SolarDave -

You're right. Correction has been made. Thanks.

↓↑report

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