Are tax credits available for the Toyota Rav4 hybrid?
Toyota is expected to receive tax rebates ranging from $7 to $7,500.
Toyota's limit of 200,000 electric vehicles and plug-in hybrids that qualify for the $7,500 federal tax credit has been surpassed.
The $7,500 federal tax credit is not applicable to plug-in electric vehicles.
According to the U.S. Department of Energy, all newly acquired electric and plug-in hybrid cars from 2010 or
later may be eligible for up to $7,500 in federal tax credits.
For instance, California offers a credit of up to $7,000 when you purchase a brand-new electric vehicle or plug-in hybrid.
The credit under a previous scheme that tapered it out after 200,000 units sold will not be available to GM and
Tesla vehicles again until 2023 under the new regulations. After September 30, 2023,
purchasers of Toyota automobiles will not be qualified for any tax breaks.
However, when it comes to plug-in hybrids with gas-electric power, Toyota is most accurate, coming in third place
at least as far as whether Toyota is hitting the federal maximum limit for tax credits on these vehicles (PHEVs).
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