Ford Escape Hybrid And Mercury Mariner Hybrid Cut Taxes And Fuel Costs
American Innovation At Work
* People who buy the fuel-efficient Ford Escape Hybrid or Mercury Mariner Hybrid will see significant tax credits in 2006, up to $2,600.
* The Escape Hybrid and Mariner Hybrids are two of five hybrid vehicles Ford Motor Company will have on the road by 2008.
* By 2010, Ford will sell 250,000 hybrids a year and offer the option in up to half of its Ford, Lincoln and Mercury nameplates.
* Treasury Secretary announces the issuance of IRS guidance regarding the tax credit for hybrid vehicles
DEARBORN, Mich., Jan. 13, 2006 – The cost of owning a hybrid vehicle has become even more attractive. Buyers of the Ford Escape Hybrid and Mercury Mariner Hybrid – the world’s cleanest, most fuel-efficient SUVs – now will realize significant tax savings. Ford put the first SUV hybrid on the road today – the Escape Hybrid – and plans to sell 250,000 hybrids a year by 2010.
In describing this bold, American innovation, Chairman and CEO Bill Ford said, “The Ford Escape and Mercury Mariner Hybrids were born and built in the USA. And they are the only hybrid SUVs made in America. Innovation will continue to be the guiding compass of everything we do.”
“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.”
Owners of an Escape or Mariner Hybrid purchased before January 1, 2006 are eligible for up to a $2,000 tax deduction, reducing their taxable income for an after-tax savings of up to $700. But customers buying one of Ford’s hybrids this year will benefit even more with a new sliding scale tax credit that can be used directly against the amount owed to the IRS.
U.S. Treasury Secretary John Snow today announced the issuance of IRS guidance regarding the tax credit for hybrid vehicles. The credit, which was enacted by the Energy Policy Act of 2005, may be as much as $3,400 for those who purchase the most fuel-efficient vehicles.
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.
Ford Escape Hybrid, the world’s first hybrid SUV, is entering into its third year on the market. In addition to the Escape Hybrid, and Mercury Mariner Hybrid, Ford Motor Company also has a test fleet of Mazda Tribute hybrids on the road today. Mazda will begin selling the Tribute Hybrid in 2007. In 2008, the three hybrid SUVs will be joined by the Ford Fusion Hybrid and Mercury Milan Hybrid. And by 2010, Ford will offer a hybrid power option in up to half of its Ford, Lincoln and Mercury nameplates.
- Contact Information
- Whitney E Drake
- Assistant Manager Ford Division
- Ford Motor Company
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.