IRS unveils tax-credit figures for Toyota, Ford hybrids The tax credit, which is available for cars bought on or after Jan. 1, 2006 and runs through 2010, varies based on a model's fuel efficiency, weight and other factors. For months, consumers and industry watchers have relied on industry estimates to gauge how much of a credit -- a dollar-for-dollar reduction in consumers' tax bills -- will be available to those who purchase hybrid models. Taxpayers who buy a Toyota Prius, whether a 2005 or 2006 model, will enjoy a tax credit of $3,150, the IRS said. Read more.
It's probably worth noting that although this applies to both the 2005 and 2006 Prius, it is restricted to new vehicles. As someone looking for an 05 or 06 Prius, I've found a few used models that aren't quite as good of a deal when considering the loss of the $3150 tax credit. (source: Goverment's Fuel Ecomony Site Article, relevant quote from requirements for claim "The original use of the vehicle commences with the taxpayer.")
<div class='quotetop'>QUOTE(Clar @ Apr 11 2006, 09:32 AM) [snapback]237995[/snapback]</div> I haven't been able to find an exact figure for Jan thru March. But, March came in at 7922 units, and is reported as a 23% drop from the February. This puts February at 9744 units. Assuming January didn't go over 10k units, the first quarter probably came in somewhere around 27,000 units sold through March. Edit: Oops, I just noticed you asked about Toyota Hybrid sales, not Prius sales specifically. Sorry, if I find a number that includes the full Toyota/Lexus Hybrid sales, I'll post it. Final edit: Okay, I have better numbers from GreenCarCongress.com. (January Prius figures are not noted, and my earlier Prius Feb number was wrong. With correct Feb number and assuming Jan sales same as Feb). Here's an approximate sales total for all three Toyota Hybrids Jan - Mar: Prius - 21,006 units Highlander Hybrid - 7,881 units RX400h - 5,679 units
Thanx. If the trend continues, that means Toyota gonna hit 60k trigger by early June with additional sales figure from CH.
Since everyone is wondering about the tax credit and the latest sales numbers for Toyota Hybrids, I thought I would let you all know. I met with my District Manager today and he gave me updated numbers... Jan - March (Quarter 1) total hybrids sold = 42,175 This number includes all retail, fleet & wholesale purchases. This means the 100% Tax Credit of $3150 will be over at the end of the 2nd Quarter (End of July). In the next two subsequent two-quarter periods, there is no limit to the nubmers buyers who can respectively claim 50% and 25% of the credit. Finally, after the fifth quarter following the quarter in which the manufacturer reaches cumulative sales of 60,000 hybrids, the tax credit expires for that manufacturer. See below: Prius 100% = $3150 50% = $1575 25% = $787.50 Highlander Hybrid 100% = 2600 50% = 1300 25% = 650 Lexus RX400h 100% = 2200 50% = 1100 25% = 550 Camry Hybrd TBD Lexus GS450h TBD Of course, with all the tax credits, always consult your local tax consultant.
I understood the credit differently. I thought owners will continue to receive the full credit the full quarter after the quarter where 60000 hybrids are sold per manufacturer. In this case (most likely a 2nd quarter 60000 mark) quarters 1,2, and 3 would qualify for 100% credit and then 50% in quarter 4 and so on.
<div class='quotetop'>QUOTE(jtaft @ Apr 18 2006, 07:47 PM) [snapback]241822[/snapback]</div> You are correct. 100% of the credit is good through the end of September. Toyota explains it best: http://www.toyota.com/images/vehicles/2006...xcreds_3_06.pdf
Thanks for the accurate numbers. This makes it much easier for those of us currently in the market for a hybrid. It appears September will be the last month for the full discount.
<div class='quotetop'>QUOTE(Clar @ Apr 11 2006, 10:32 AM) [snapback]237995[/snapback]</div> I've only been US posting sales data every month... Most recently: http://priuschat.com/Toyota-Lexus-US-hybri...ory-t17936.html Toyota has been publishing the tax information here: http://www.toyota.com/prius/tax.html
