The IRS certified GM consumers are still eligible for the full tax credit for those who buy hybrid cars from them. What they don't say is GM may never pass the 60,000 mark before the federal tax credit expires in 2010.
GM has sold 5,500 hybrid vehicles since the tax credit came into affect last year. Toyota, on the other hand has sold more than 212,000 hybrids under their Toyota and Lexus brands. They sold nearly 68,000 hybrids in the fourth quarter alone.
GM currently sells the Chevy Silverado Hybrid and Saturn Vue Hybrid, for instance. Neither is a full hybrid and neither is eligible for as much of the tax credit as hybrids from Honda or Toyota because they are considered to be mild hybrids.
Full hybrids are capable of moving the vehicle on electric power alone, while mild hybrids use the electric motor to assist the gas engine. Both types have regenerative braking for recharging the large battery packs needed.
Since Toyota hit the federal tax credit limit last year, they are in the midst of a phase out. Consumers who buy hybrids from Toyota today are only eligible for half the credit. After the first quarter, that will be cut in half again.
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