The Car and Truck Fleet and Leasing Management Magazine

Honda Compressed Natural Gas Vehicle Certified for Tax Credit

November 27, 2006

WASHINGTON, D.C. – The Internal Revenue Service has acknowledged the certification by American Honda Motor Company, Inc. that its Honda Civic GX model-year 2007 vehicle meets the requirements of the Alternative Motor Vehicle Credit, according to the Web site The qualified Alternative Fuel Motor Vehicle Credit was enacted by the Energy Policy Act of 2005. The new credit includes separate credits for four distinct categories: fuel cell vehicles, advanced lean-burn technology vehicles, hybrid vehicles, and alternative-fuel vehicles. The credit amount for the Honda Civic GX model-year 2007, which operates solely on compressed natural gas, is $4,000. The credit is equal to a percentage of the incremental cost of the alternative-fuel technology. Taxpayers may claim the full amount of the allowable credit up to the end of the first quarter after the quarter in which the manufacturer records its sale of the 60,000th vehicle, according to For the second and third calendar quarters after the quarter in which the 60,000th vehicle is sold, taxpayers may claim 50 percent of the credit. For the fourth and fifth calendar quarters, taxpayers may claim 25 percent of the credit. No credit is allowed after the fifth quarter. The total number of qualifying Honda hybrid vehicles reported sold as of Sept. 30, 2006, was 28,408. Therefore, purchasers of Honda’s qualified vehicles may continue to rely on the previously issued IRS certifications.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

LeasePlan is a fleet management provider operating in 32 countries and managing 1.5 million vehicles worldwide.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher