Ford Motor Company Sets Up Hybrid Tax Hotline
DEARBORN, MI – A new hotline, set up by Ford Motor Company, now provides Ford and Mercury dealers a single source of information on federal, state, and local incentives available for Escape Hybrid and Mariner Hybrid owners. Incentives range from $1,950 to as much as $6,350. To date, 35 states have proposed or approved state tax incentives for hybrid vehicles, and 11 states have proposed or approved HOV lane access for hybrids.
Buyers who purchase a four-wheel-drive Escape hybrid or Mariner hybrid after Jan. 1, 2006, are eligible for a $1,950 tax credit from the federal government, while front-wheel-drive buyers are eligible for $2,600 federal tax credit. Hybrids purchased in 2005 qualify for a lesser federal tax deduction.
According to the dealer hotline statistics, the top places to own an Escape Hybrid or Mariner Hybrid currently are West Virginia, Colorado, Oregon, and Louisiana. In these states, tax incentives more than offset the higher MSRP (approximately $3,500) of an Escape Hybrid or Mariner Hybrid over its gasoline-powered counterpart.
The hotline will be continually updated with information sourced from both government and government-support agencies. Consumers looking for more information on incentives in their area are encouraged to contact their local Ford or Mercury dealers. In addition, consumers are advised to confirm processes and eligible redemption amounts with a tax advisor or the IRS.
By 2008, Ford will have five hybrids on the road, including the Ford Escape, Mercury Mariner, Ford Fusion, Mercury Milan, and Mazda Tribute. By 2010, Ford plans to increase its global hybrid production to approximately 250,000 hybrid units annually.