Toyota seeks extension for hybrid tax credits

AP reports:
Toyota North American President Jim Press urged Congress Wednesday to extend federal tax credits for hybrid vehicles and accelerate its buying of hybrids and alternative fleet vehicles to help address energy concerns. A 2005 federal energy bill provided up to $3,600 in tax credits to U.S. consumers who buy hybrids, but Toyota Motor Corp. this summer hit the legal production limit -- 60,000 vehicles -- that are eligible for the full tax credit. [..]President Bush has called for an extension of the tax credits for the purchase of hybrids and other alternatives, but Congress showed little interest in extending the incentives before this month's elections.

Comments are closed.