5 New GM Hybrids and Phaseout of Honda Hybrids

Five General Motors sport utility vehicles now qualify for the hybrid tax credit. The 2008 model year SUVs are the Chevrolet Tahoe (both the two-wheel drive and four-wheel drive models) for $2,000, the GMC Yukon (again both the 2WD and 4WD models) for $2,200, and the Saturn Vue Green Line for $1,550.

Also, starting January 1st, 2008, Honda hybrid models will begin their phaseout period. Qualifying Honda models bought in 2007 will qualify for the full credit. Honda hybrids bought in the first six months of 2008 will qualify for 50% of the credit. And Hondas bought in the last six months will qualify for 25% of the credit. If you buy a Honda hybrid after 2008, the vehicle will not qualify for any tax credits at all. (Unless, that is, Congress decides to extend the credit.)

More information:

• Hybrid Tax Credit
• Limitations and Strategies
• List of Eligible Hybrid Vehicles
• Phaseout for Honda, Lexus, and Toyota Models
• Five 2008 GM Vehicles Certified As Qualified Hybrids (IR-2007-210 from the IRS Web site)
• Honda Hybrid Begins Phase-Out on January 1 (IR-2007-191 from the IRS Web site)
• Pictures of the 2008 Chevy Tahoe and GMC Yukon (from About Alternative Fuels)
• Picture of the 2008 Saturn Vue Green Line (from About Alternative Fuels)