IRS Grants Tax Credit for Mazda Hybrid - Daily Auto Insider

IRS Grants Tax Credit for Mazda Hybrid



The two-wheel-drive version of Mazda's Tribute hybrid for the 2008 model year will be eligible for a $3,000 credit, while the four-wheel-drive version will be eligible for a credit of $2,200, The Associated Press reported, citing a ruling by the Internal Revenue Service.

The tax credit is intended to encourage sales of the fuel-efficient cars, the government said.

The federal tax credit for new hybrid vehicles, passed in the 2005 energy bill, begins to phase out after a carmaker has sold 60,000 hybrid or other fuel-efficient vehicles.

source : blogs.cars.com