Highest Federal Tax Credit for 2010 Ford Fusion Hybrid
With the 2010 Fusion and Milan, Ford will have a number of four Hybrid vehicles that benefit from federal tax credit. Ford Escape and Mercury Mariner Hybrids, already on the market, have a $3,000 tax credit, the highest available tax credit of all hybrids on the road today. This is about to change, as both Fusion and Milan have qualified for a $3,400 tax.
“Hybrids are an important part of our strategy to deliver the best or among the best fuel economy with all of our new products, and the Fusion and Milan Hybrids have set the pace for the company, as well as our competitors,” said Derrick Kuzak, Global Product Development Group vice president.
Federal tax credits for hybrid vehicle are set by a formula determined by vehicle weight, technology, and fuel economy compared to base year models. These credits are available for vehicles placed in service starting January 1, 2006. The Fusion Hybrid has a 46 mpg (6l/km) average in the city and 36 mpg (5l/km) on the highway, which tops the Toyota Camry Hybrid. Ford Fusion’s fuel comsumption and tax tax credit could help hybrid-electric technology to overtake the classical petrol or diesel powered car.
For hybrid vehicles made by each manufacturer, the credit will be phased out over 15 months starting after that manufacturer has sold 60,000 eligible vehicles. For vehicles made by manufacturers that have not reached the end of the phase-out, the credits will end for vehicles placed in service after December 31, 2010.
If 60,000 hybrid or advance lean burn technology vehicles of a particular manufacturer are sold, the tax credit is reduced and eventually eliminated. The full credit can be claimed up to the end of the third month after the quarter in which the manufacturer sells its 60,000th hybrid vehicle.
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