Bank of America made definite its stance concerning climate change when it established its hybrid car rebate program last January of 2007. It was on a Friday when Bank of America spokesperson Eloise Hale had told reporters that more than 185,000 of its American employees are entitled for a $3,000 hybrid car rebate if they purchase any of the environment-friendly, fuel economy cars such as Toyota Prius, Honda Insight, or Ford Escape Hybrid. Though the number of applicants are undisclosed, spokesperson Eloise Hale was quick to impart the pilot programme had boosted sales since its inception.

However, while Bank of America’s hybrid car rebate program was the biggest, it isn’t the first. For instance, Google had been giving large hybrid car rebates, up to $5,000, since last year. Hyperion, a software company from Silicon Valley was also putting another $5,000 worth of perks to employees buying a hybrid car. Yet another company, an outdoor outfitter, Timberland handed out $3,000 hybrid car rebates to employees getting these environment friendly cars.

Here we see significant hybrid car rebates being offered, along with massive tax credits and attractive car loan plans, all in the name of a greater cause: to shift the general American paradigm to hybrid vehicles. But the question remains: will these be enough to buy a hybrid car with an overblown sticker price?

At $5,000, it could be beyond generous. The 2007 model Toyota Prius for instance cost $23,690 (base) and around $19,995 for the older models. The $5,000 hybrid car rebate could go a long way, considering that top tiered models of other fuel engines also falls around the $20k barrier, more or less. For instance, a Volkswagen Jetta GL TDI, which runs on diesel, has a base price of $18,670. And performance wise, I’m willing to eat my shoe that the Prius outclasses the Jetta in most aspects. Even at $3,000 hybrid car rebate, its already enough.

Then there is the new energy tax credit made available for hybrid cars. On some particular models, most especially those really fuel sparing models like the Toyota Prius and Honda Insight, tax credit could go around $1,000. Adding it up to the hybrid car rebate, you’d be paying even lesser for a really great car.

What remains to be done is for other companies to follow suit. Led by the Bank of America’s example, and Google and Hyperion, other large companies should also start their own hybrid car rebate programs.

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By Charlie Smith

Citizens are finally demanding electricity-powered cars—many years after David Suzuki bought Canada’s first hybrid.

As Vancouver’s “roving veterinarian”, Susan Krakauer sometimes does a lot of driving while making house calls for pets in distress. But Krakauer, who lives in East Vancouver, also happens to be a Buddhist with a keen concern about global warming. She knows that driving contributes to the problem, but she sometimes has no alternative, particularly if she’s taking equipment with her to do surgical procedures.

“It just seems completely factual to me that we are destroying our planet, and we all need to take some personal responsibility about it, so I do my best,” Krakauer told the Georgia Straight in an interview at her home.

To try to do her part for the environment, Krakauer bought a 2006 Honda Insight hybrid car about five months ago. It runs on gasoline and on electricity, travelling 100 kilometres on four litres of gasoline.

“I wanted to drive something that was more environmentally responsible,” Krakauer said. “It’s great on gas.”

She recognizes that the car probably cost $4,000 to $5,000 more than a regular vehicle but figures this will eventually be offset by fuel savings. Krakauer is one of a growing number of hybrid drivers in Canada and the United States. Three of this region’s most famous residents–singer Sarah McLachlan, Premier Gordon Campbell, and environmentalist David Suzuki–all drive hybrid cars.

According to company statistics, in the first seven months of 2007, Toyota and Lexus sold 5,651 hybrid vehicles in Canada–more than 30 percent of all Toyota hybrids sold in Canada since the Japanese auto giant introduced the Prius in 2000. J.D. Power and Associates, a California-based consumer-research firm that tracks car-buying habits, issued a news release on August 2 pointing out that hybrid-vehicle sales in the U.S. will increase by 35 percent this year over 2006. The company forecast that hybrid sales will go from 2.3 percent of the light-vehicle market in 2007 to 4.6 percent by 2010. more on hybrid cars

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by Karl Greenberg, Friday, Aug 3, 2007 5:00 AM ET
AUTOMAKERS, BOWING SEVEN NEW HYBRID vehicles this year, might want to think of ways to make gas/electric cars and trucks scream: “Hey, look, I’m a hybrid.” A big visible difference from non-hybrids, big fuel economy gains and a small price difference have determined winners and losers in the growing segment, say market observers.
High gasoline prices, meanwhile, are helping drive a record market in gas/electric cars this year. Still, with a profusion of hybrid cars in market now and more coming, Toyota’s Prius rules, and consultancies say the car will continue to do so: Toyota sold a record 16,062 Priuses last month–a dizzying 50% increase versus the month last year. Year to date, the company saw an 85% increase through July versus the period in 2006. Toyota reported that among all of its hybrids, it saw a 59% increase in sales in the period.

Toyota, which plans to offer hybrid-powertrain versions of its entire portfolio by 2012, now sells gas/electric versions of four other vehicles, but all of those combined don’t come near sales of Prius.

“Prius is a stand-alone car–it makes a statement on its own,” says George Magliano, director of automotive research for the Americas at Global Insight, Lexington, Mass. “You see it on the road and know it’s a hybrid. And the issue with this type of vehicle is that people want you to know they have a hybrid.”

Dan Gorrell, president of Auto Stratagem, a research and consulting firm in Tustin, Calif., concurs. “Consider the hybrid Highlander (SUV). It hasn’t sold well, partly because it violates a major issue: you need to look different. A lot of why people are buying hybrids has to do with being noticed; it’s a self-esteem issue.” more on hybrid cars

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