US tax credit for Ford hybrids begins to sunset

WASHINGTON, April 16 (Reuters) - U.S. consumers may no
longer claim the full federal tax credit when they purchase or
lease a hybrid passenger car or light truck made by Ford Motor
Co , the government said on Thursday.
Consumers were able to claim the full credit of up to
$3,400 through April 1, according to the program approved by
Congress and launched in January 2006.
The clock on the phase out started ticking once Ford sold
60,000 hybrids. Ford hit that threshold in late 2008, the
Internal Revenue Service (IRS) said.
Consumers can claim a 50 percent hybrid credit (up to
$1,700) before Sept. 30 and a 25 percent credit between next
October and March 31, 2010. The credit expires April 1, 2010.
Ford hyrbids include the Escape and Mercury Mariner sport
utilities and the heavily touted 2010 Fusion mid-size sedan.
Congress is considering legislation that would offer new
tax credits for hybrids and other fuel efficient vehicles to
spur slumping sales industrywide.
(Reporting by John Crawley; Editing by Bernard Orr)
((john.crawley@thomsonreuters.com + 1 202 898 8340))
Keywords: FORD/HYBRIDS

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