2013 Toyota Highlander Limited on 2040-cars

Auto blog

US Congress lets $8,000 hydrogen vehicle tax credit expire

When Toyota introduced the 2016 Mirai last month in preparation for a launch late next year, it said that the hydrogen car will have a $57,500 MSRP and that there will be a federal tax credit available worth up to $8,000. The problem, as we noted at the time, is that that federal credit was set to expire at the end of 2014. The technical language of the current rule says that someone who buys a fuel cell vehicle, "may claim a credit for the certified amount for a fuel cell vehicle if it is placed in service by the taxpayer after Dec. 31, 2005, and is purchased on or before Dec. 31, 2014." With the 113th Congress now finished up for the year and legislators headed home for the holidays, we know one thing for certain: the federal tax credit for hydrogen vehicles was not updated and will end as we're all singing Auld Lang Syne next week. All of this isn't to say that Mirai buyers won't be able to take $8,000 off the price of the car 12 months from now. For proof of that, we only need to look at other alternative fuel tax incentives and realize that this Congress simply isn't moving fast enough to deal with things that are expiring right now. One of the last things that the 113th Congress did in December was to take up the tax credits that expired at the end of 2013 and renew some of them. Jay Friedland, Plug In America's senior policy advisor, told AutoblogGreen that PIA and other likeminded organizations worked with Congress to extended the electronic vehicle charging station (technically: EVSE) tax credit that was part of the Alternative Refueling Tax Credit in IRS Section 30(C) through the end of 2014. "Individuals can deduct 30 percent of the cost of purchasing and installing an EVSE up to $1,000; businesses, 30 percent up to $30,000," he said. "This tax credit is applied to any system placed into service by 12/31/14 and is retroactive to the beginning of the year. So go out and buy your favorite EV driver an EVSE for the holidays," he said. An electric motorcycle credit was killed at the last minute as Congress was getting ready to leave, but H.R. 5771 did extend the Alternative Fuels Excise Tax Credits for liquefied hydrogen and other alternative fuels. These sorts of tax credit battles happen all year long. In July, Blumenthal introduced the Fuel Cell and Hydrogen Infrastructure Act of 2014, which never got out of the Finance Committee. Back to the hydrogen vehicle situation.

Toyota to end Australian production by 2017

There is more bad news for the Australian auto industry today, as Toyota has just announced that it will follow General Motors and Ford in shuttering its manufacturing operations on the continent. Production and assembly will cease by the end of 2017, but Toyota will remain in Australia as a sales and distribution company.
"We did everything that we could to transform our business, but the reality is that there are too many factors beyond our control that make it unviable to build cars in Australia," said Toyota Australia President and CEO Max Yasuda.
In an official statement, Yasuda said that the closure would directly affect 2,500 manufacturing employees and an unknown number of corporate workers. However, a report in the Australian newspaper The Age suggests that the jobs of 24,000 workers at Australian auto suppliers could also be in jeopardy. Toyota currently builds its Camry, Camry Hybrid, Aurion sedans in Australia, along with four-cylinder engines, and it plans to begin importing the Camry and Aurion after production stops.

US-built Corollas will soon be exported to Latin America, Caribbean

Toyota has announced plans to export the American-made Corolla south, to 18 countries in Latin America and the Caribbean by 2014. The move follows statements made to The Wall Street Journal by Toyota's South American leader, Steve St. Angelo, that spoke to Toyota's resolve in emerging American markets.
Toyota is expected to begin export production in April, with initial production of 7,500 Corollas in the first year, courtesy of its Tupelo, Mississippi assembly plant. Years of unpredictable swings in the value of the Japanese yen has seen Toyota push its manufacturing operations in other countries, particularly the US, where its builds ten different models.
Scroll down to read the full press release from Toyota.