2011 Hyundai Sonata Hybrid to be Eligible for $1,300 Tax Credit
But the Credit Expires on Dec 31st, 2010The Hyundai Sonata hybrid is going to launch in December with a MPG rating of 36 in the city and 40 on the highway (most hybrids do better in the city than on the highway, but not this one -- highway travelers take note!). The good news is that in the U.S. it's going to be eligible for a federal tax credit of $1,300, and since this is Hyundai's first hybrid sold there, the company still has enough credits for 60,000 hybrids. But there's a bad news...
The federal tax credit for hybrid cars expires on December 31st, 2010. This means that there will only be a short window for Sonata hybrid buyers to get that government rebate, and you can't get it on a Ford or Toyota hybrid because both companies have run out of credits.
Why Only $1,300?
The Sonata hybrid has a similar EPA rating to the Ford Fusion hybrid, but the Fusion had a $3,400 tax credit. Why the difference? Because the tax credit is based on city MPG, where the Fusion really shines (41 MPG).
For more details, see also: Hyundai Sonata hybrid
More on Hyundai
Hyundai Unveils the 2011 Sonata Hybrid (Lithium-Polymer Batteries, 37/39 MPG)
Hyundai Pledges Average 50 MPG Fleet In 15 Years
Honda Wins UCS "Greenest Automaker" Prize for 5th Year in a Row (and Hyundai tied Toyota for second place)