Monday, September 24, 2007

Get 'Em While They're Hot

From the New York Times:

The good news for the environment is that Toyota sold its 60,000th Prius in August. The bad news is that this starts the clock ticking for the end of tax credits for buyers. The credits were mandated in the 2005 Energy Policy Act, which stipulates that after an automaker reaches a certain number of sales, the credits close. Currently the 2007 Accord Hybrid qualifies for a $1,300 credit and the Civic Hybrid for $2,100. Earlier models still qualify but only to the original owner. And regardless of the vehicle type, tax credits shrink to 50 percent as of January 1, 2008; to 25 percent on July 1, 2008; and to nothing on January 1, 2009.