Toyota this week is expected to announce it has sold 60,000 hybrids this year. Undoubtedly good news for Toyota in terms of revenue, but there’s just one problem. The U.S. government has been been offering $3,150 tax credits for each hybrid vehicle sold by a manufacturer, up to 60,000 units. The eligibility period began January 1, 2006 and would run until the end of 2010. After the 60,000-unit point, credits are cut in half to just $1575 for the next 6 months. Finally, incentives will be cut to just $787 for the final half-year.
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06/06, 12:47 PM
posted by:
Thom
Good. They should not get a credit anymore since I cannot get one either for my business vehicle. The “gas guzzler tax” is another stupid way for the government to take more “revenue” for stupid reasons (It is double taxation since the vehicle uses more gas, and therefore pays more taxes overall anyway since it uses more gas), but that is another argument for another day.
Hybrids are great and all, and I would buy one if they made on big enough and powerful enough for my work & family needs, but the tax credit is stupid.
06/06, 4:38 PM
posted by:
Tony
Bad. The government should be double dipping on taxes concerning big vehicles. These cars weigh more, so they wear out the roads faster. Consequently, those drivers should pay more taxes proportionally to pay for those road repairs. If you want a big hybrid SUV, petition the U.S. automakers to speed up the integration. Who knows, it might even be a vehicle people would buy! Otherwise, wait a few years and get a hybrid truck from Toyota, since they’re lineup will be all hybrid in the coming years.
06/06, 8:07 PM
posted by:
Thom
Your comment is idiotic. You just said the government should be double dipping. Well, I think they should double dip on hybrids because they use less fuel and therefore pay less taxes and therefore don’t give the government as much in taxes.
06/07, 4:02 AM
posted by:
Mark
There is not any gas guzzler tax for the big stuff like a H1 or other big work vehicles. Also hybrids cost more than a similar vehicle so they do not need any more taxes.
06/08, 5:30 PM
posted by:
Tony
I’m afraid it’s you that is the idiot. As you yourself said, hybrids use less energy, and you didn’t challenge the fact that they weigh less on average and therefore cause less damage to roads. Are you really so dumb as to advocate for a tax on a superior product? Following your logic, perhaps we should impose additional taxes on houses because they are superior to trailers? As it’s likely you live in one such trailer yourself, I could see how you would advocate for this sort of system. Please take your faulty logic back to whatever junior college you came from…
06/09, 10:20 AM
posted by:
rapcar
Is the tax break for heavy vehicles still in effect? There used to be a bigger tax break for buyers of H2’s than for hybrids.