CUT TAX AND FUEL COSTS - BUY FUEL-SIPPING FORD ESCAPE OR MERCURY MARINER HYBRID.
The cost of owning a hybrid vehicle becomes even more attractive in 2006. Beginning Jan. 1, buyers of the Ford Escape Hybrid and Mercury Mariner Hybrid - the world's cleanest, most fuel-efficient SUVs - can look forward to significant tax savings. "Our hybrid owners tell us how much they enjoy their Escapes and Mariners because of the way they look, the way they drive and their fuel economy," says Christine Biondi, Escape Hybrid marketing manager. "Now with these new credits, our customers can subtract directly from the money they owe the IRS. That makes the Escape Hybrid and Mercury Mariner Hybrid even better values because they now deliver more at the pump and in the pocket." Today's owners of an Escape or Mariner Hybrid can look forward to considerable deduction in April by being eligible for up to a $2,000 tax deduction, reducing their taxable income for an after-tax savings of up to $700. The deduction is being replaced in 2006 with a new sliding scale tax credit that can be used directly against the amount owed to the IRS. The Internal Revenue Service has not officially said how much the tax credits will be. However, Ford expects buyers of the Escape Hybrid and Mercury Mariner Hybrid to be eligible for a credit of $2,600 for two-wheel-drive versions and $1,950 for four-wheel-drive models. Hybrid buyers are encouraged to review state or local laws to determine whether there are further tax incentives related to hybrid ownership. In addition, Congress recently approved a new law that allows states to provide owners of hybrid electric vehicles access to High Occupancy Vehicle lanes. The Ford Escape Hybrid, the world's first hybrid SUV, is entering into its third year on the market. In addition to the Escape Hybrid, Ford sells the Mercury Mariner Hybrid, while Mazda has a test fleet of Tribute hybrids on the road today. Mazda will begin selling the Tribute Hybrid in 2007. In 2008, the three SUVs will be joined by the Ford Fusion Hybrid and Mercury Milan Hybrid. And by 2010, Ford will sell 250,000 hybrids globally and offer the option in up to half of its Ford, Lincoln and Mercury nameplates.
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