Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

Companies Offer Rebates to Employees Buying Hybrids

June 7, 2006

Bank of America Corp. said it will offer $3,000 rebates to thousands of employees who buy hybrid vehicles, a move that could lead other large companies to provide similar "green" incentives, Reuters reports. Together with tax credits, the rebates might save consumers more than $6,000 per vehicle. Google Inc. offers employees $5,000 rebates to buy or $2,500 to lease hybrids. Insurer St. Paul Travelers Inc. offers a 10 percent discount on insurance for hybrids. Some other California companies also offer such incentives. Corporate incentives supplement federal tax credits based on the Energy Policy Act passed by Congress last year.Such incentives might help consumers offset hybrid’s higher sticker prices, which they might not otherwise be able to make up through lower fuel costs. But some automakers may not have the production capacity to meet demand, Reuters reports.
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