IRS unveils tax-credit figures for Toyota, Ford hybrids

Great to read something official after all the months of speculative posts.

 

http://www.irs.gov/newsroom/article/0,,id=156048,00.html

 

nothing yet about the Hybrid Camry.... :mellow:

 

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.")

 

how many hybrids has Toyota sold in the 1st quarter? any reports?

 

<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