GM, Ford's Low Hybrid Sales Mean Tax Credits Continue
OK, here's the rule for car buyers looking to claim a federal tax credit for their hybrid: "Original owners may claim the full amount of the allowable credit up to the end of the first calendar quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle. For the second and third calendar quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit. For the fourth and fifth calendar quarters, taxpayers may claim 25 percent of the credit. No credit is allowed after the fifth quarter." So the Internal Revenue Service (IRS) had a butcher's (look) at GM and Ford hybrid sales for the quarter ending Sept. 30 and decided neither automaker's sold enough gas – electric vehicles to start the winding down process. Ford's getting there; The Blue Oval Boyz sold 38,743 hybrids last quarter. GM's not even close, at 9,577 hybrids. For a full list of the qualifying vehicles and the tax credits for each, click HERE. Oh, and in case you're wondering, Toyota blew by the 60k hybrid tax barrier on June 30, 2006. In the second quarter of '07 alone, Toyota sold sold 79,723 hybrids (54,821 Prii).
More by Robert Farago
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Why is the Altima only available in 8 states? Is this a limited launch whle they ramp up supply or some other reason? I would think they would make them available everywhere as soon as possible with the hybrid hype right now.
So now GM is outed: they've sold almost no hybrids yet! Apparently, the more models in your lineup the fewer total sales and the higher your losses. Smart, GM!
I wondered why I've never seen an Altima hybrid..