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Gov't lost $350m from tax waivers on hybrid vehicles

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Gov't lost $350m from tax waivers on hybrid vehicles

Postby stikid09 » May 22nd, 2019, 1:48 pm

Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We can't look at one interest group. We have to look at the country. And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing us millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Ben_spanna » May 22nd, 2019, 1:52 pm

stikid09 wrote:Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We ARE LOOKING at one interest group. We have to look at the country's CAR DEALERS . And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing US(d money in we pockets) millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/


fixed!
Putting themselves first , environment and world last- typical...

you would think that they could come up with some alternative to taxation but we already know ingenuity has never been their strongest suit................

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Slartibartfast » May 22nd, 2019, 2:05 pm

Does he understand that the tax incentive is what gave rise to the popularity of hybrids? We have a market for cheap vehicles, not hybrids.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby maj. tom » May 22nd, 2019, 2:09 pm

Discussion was already started here. Mods can do some cleanup and transfer please:

viewtopic.php?f=4&t=742705#p9915842

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby zoom rader » May 22nd, 2019, 2:39 pm

Meanwhile impsbert was spotted behind the wheel of a mustang tax free

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby aaron17 » May 22nd, 2019, 7:15 pm

They lost green money.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby No_Name » May 22nd, 2019, 8:00 pm

Ben_spanna wrote:
stikid09 wrote:Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We ARE LOOKING at one interest group. We have to look at the country's CAR DEALERS . And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing US(d money in we pockets) millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/


fixed!
Putting themselves first , environment and world last- typical...

you would think that they could come up with some alternative to taxation but we already know ingenuity has never been their strongest suit................


Said it b4, & will say it again, just now d short rass go tax each block of toilet paper yuh wipe yuh backside with...or his face, however one sees it...

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby zoom rader » May 22nd, 2019, 8:26 pm

No_Name wrote:
Ben_spanna wrote:
stikid09 wrote:Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We ARE LOOKING at one interest group. We have to look at the country's CAR DEALERS . And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing US(d money in we pockets) millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/


fixed!
Putting themselves first , environment and world last- typical...

you would think that they could come up with some alternative to taxation but we already know ingenuity has never been their strongest suit................


Said it b4, & will say it again, just now d short rass go tax each block of toilet paper yuh wipe yuh backside with...or his face, however one sees it...
Dat doh affect PNM ppl cause they don't use it.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Ben_spanna » May 22nd, 2019, 9:09 pm

zoom rader wrote:
No_Name wrote:
Ben_spanna wrote:
stikid09 wrote:Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We ARE LOOKING at one interest group. We have to look at the country's CAR DEALERS . And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing US(d money in we pockets) millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/


fixed!
Putting themselves first , environment and world last- typical...

you would think that they could come up with some alternative to taxation but we already know ingenuity has never been their strongest suit................


Said it b4, & will say it again, just now d short rass go tax each block of toilet paper yuh wipe yuh backside with...or his face, however one sees it...
Dat doh affect PNM ppl cause they don't use it.


Nope because how you gonna wipe sh1t with sh1t ?

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby zoom rader » May 22nd, 2019, 9:46 pm

Ben_spanna wrote:
zoom rader wrote:
No_Name wrote:
Ben_spanna wrote:
stikid09 wrote:Image

The country lost $350 million in one year because of waivers on import duty, value added tax and motor vehicle taxes for hybrid vehicles, Finance Minister Colm Imbert said on Friday.

Responding to comments made by used car dealers on TV6's Morning Edition programme, requesting Government reinstate the waivers to make importing these vehicles cheaper, since that's the way the world seemed to be going, Imbert said they have a market, so obviously they would want to have the incentives reinstated.

"If oil was US$150/barrel and if gas was US$12/mmbtu and we producing 200,000 barrels of oil a day and five billion cubic feet of gas (sure) because we'd be getting revenue from somewhere else. Right now, we can't. While the economy has turned a corner we are still in a situation where we have to be careful. It's not milk and honey flowing. We have stabilised, we’ve turned, we are going up (but) we still have to be careful so if we had to give up $350 million in revenue, that would not be a sensible decision," he said at press conference at his ministry.

Government reintroduced taxes on hybrid and compressed natural gas vehicles with engine sizes over 1599 cubic centimetres in 2017, after introducing a full waiver the year before.

"We ARE LOOKING at one interest group. We have to look at the country's CAR DEALERS . And if the decision to waive taxes on hybrids on vehicles of that large engine size was losing US(d money in we pockets) millions of taxes in revenue annually, there’s no way we could continue and no way we will continue with it. It doesn't make sense," Imbert said.

Source: https://newsday.co.tt/2019/05/18/govt-l ... x-waivers/


fixed!
Putting themselves first , environment and world last- typical...

you would think that they could come up with some alternative to taxation but we already know ingenuity has never been their strongest suit................


Said it b4, & will say it again, just now d short rass go tax each block of toilet paper yuh wipe yuh backside with...or his face, however one sees it...
Dat doh affect PNM ppl cause they don't use it.


Nope because how you gonna wipe sh1t with sh1t ?
Ask Redman he fully supports this clown

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby agent007 » May 22nd, 2019, 9:59 pm

The Minister basically says he cannot favor the interest group of the used car dealers because they sell more hybrids than massy, ss and toyota combined.

ANSA however sells the Honda City CNG which is a retrofitted vehicle. The aim is to possibly reintroduce taxes to hybrids and keep the waiver for CNG. That way, the gas station retrofit exercise can continue, NGC CNG can remain open for supposed business and City CNG sales will increase.

That additional 350 million for next fiscal year will go towards the increased healthcare and national security bill the illegal immigrants will pose on our national expenditure.

NB. Not long ago, a regular non CNG Honda City sold for $150k. After the tax waiver the price went up to the current $179k. I'll stop there so you can take that in.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby A172 » May 22nd, 2019, 10:36 pm

bring on the hybrid panic buys

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby gastly369 » May 22nd, 2019, 10:48 pm

1st world status thinking.... forward ever backward what???? Sing it

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby zoom rader » May 23rd, 2019, 6:56 am

gastly369 wrote:1st world status thinking.... forward ever backward what???? Sing it
I explained to you all a vote for PNM is one step forward and two steps backwards.

Vote wisely next time

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby j.o.e » May 23rd, 2019, 7:18 am

https://www.tv6tnt.com/news/local/imber ... ffc13.html

Minister of Finance Colm Imbert is refuting a media story which purports he will impose new taxes on hybrid cars because government lost out on revenue.

In December 2017, all new hybrid vehicles or used hybrid vehicles with an engine size not exceeding 1599 cc have been exempt from Customs Duty, Motor Vehicle Tax and Value Added Tax.

In a release Finance Minister Colm Imbert said:

This tax-free concession on hybrid cars with engine sizes not exceeding 1599 cc, was implemented by way of the Finance Act No. 15 of 2017, assented to on December 19, 2017, and has NOT been adjusted or changed in any way, nor is it the intention of the Government to change this concession.
The original post has since been removed from the media house's website.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Ben_spanna » May 23rd, 2019, 7:38 am

So wait a min... so anyone can now import any Hybrid without taxes, or as usual is this a case of he said/she said , and the ultimate price is paid by the people who go ahead and import and are informed differently.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby eliteauto » May 23rd, 2019, 7:54 am

Ben_spanna wrote:So wait a min... so anyone can now import any Hybrid without taxes, or as usual is this a case of he said/she said , and the ultimate price is paid by the people who go ahead and import and are informed differently.
If you read above you'll see hybrids up to 1599cc can be imported tax free, it's been like that since 2017

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby teems1 » May 23rd, 2019, 9:06 am

They didn't lose 350m.

If there wasn't the hybrid tax waiver, people would not have imported them in such quantities.

If he were to implement the tax on hybrids, he won't magically gain 350m in revenue next year.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby airuma » May 23rd, 2019, 9:28 am

I will not support any group who says "since that's the way the world seemed to be going" as the main argument for anything to happen.

I don't see the issue anyway since I would think the reason for encouraging a hybrid vehicle is to reduce our carbon footprint, an engine size > 1599cc would be counter productive IMHO.

Apart from that, how many dealers are equipped to PROPERLY diagnose and repair hybrid vehicles? How much will it cost to purchase equipment and train people to diagnose and repair properly? Will there be enough vehicles to provide a return on investment in 3-5 yrs?

In this case it may be the 1% trying to swing things but it can also be that the used car dealers trying to milk the situation.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby 16 cycles » May 23rd, 2019, 10:34 am

close the bus route to all vehicles and use it as a cycling lane....

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby teems1 » May 23rd, 2019, 11:14 am

airuma wrote:
I will not support any group who says "since that's the way the world seemed to be going" as the main argument for anything to happen.



No one is asking you to be a lemming, but instead maybe just make an informed decision based on the facts laid out towards you?

Fossil fuels are harming the environment.
Vehicles with poor/mediocre miles per gallon are a main contributor to this.
Utilization of hybrids allows you to get much more miles per gallon.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Dizzy28 » May 23rd, 2019, 12:06 pm

Trinidadians: We need to be more environmentally friendly
Also Trinidadians: Only if the Government give we tax breaks we will do what is beneficial for the environment

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Sundar » May 23rd, 2019, 12:39 pm

Dizzy28 wrote:Trinidadians: We need to be more environmentally friendly
Also Trinidadians: Only if the Government give we tax breaks we will do what is beneficial for the environment

Also Trinidadians: Throws garbage in rivers, beaches and every drain and roadway.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby Les Bain » May 23rd, 2019, 1:43 pm

All he hadda do is implement tax waivers for vehicles with a big V8 in it. Imagine all that revenue from people buying more gas and engine oil.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby 16 cycles » May 23rd, 2019, 1:46 pm


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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby foots » May 23rd, 2019, 1:54 pm

airuma wrote:I don't see the issue anyway since I would think the reason for encouraging a hybrid vehicle is to reduce our carbon footprint, an engine size > 1599cc would be counter productive IMHO.


Yeah, now that I think about it, limiting the hybrid waiver to engines under 1600cc actually makes sense from an emissions standpoint. Otherwise people will flock towards importing cars with 3l engines and a mild hybrid stop/start system. These vehicles have marginally better fuel economy than their standard ICE counterparts. Wasn't this happening before they began taxing bigger hybrids? What is the point of allowing big engined hybrids to be tax free/cheaper than a standard car if they going to have worse fuel economy than a standard, normal sized ICE car.

A lot of the 7 seater taxis fall into the category of large engined hybrids though.....perhaps it would be a good idea to have a concession for them. Every person in a taxi works out to possibly one less car on the road snarling traffic.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby maj. tom » May 23rd, 2019, 2:02 pm

I hope you didn't get the wrong impression from this video, and did not understand exactly what Clarkson said in the end. In the "test" (2009) they ran the Prius (1.5 L 1NZ-FXE 76 hp) flat out vs the BMW M3 (4.0 L S65B40 V8 414 hp) run at speed to just keep up with the Prius (1/5th the power of the BMW V-8 engine).

Clarkson chose the most extreme examples to make the point -- a sedan equipped with a V-8 engine producing 414 horsepower against the Toyota Prius with its 76 horsepower hybrid motor. The EPA rates the BMW at 14 miles per gallon in the city, and 20 on the highway which compares unfavorably to the 48 and 45 figures for the Prius. In this test, the M3 matched the speed of the Prius as the hybrid ran flat-out over ten laps of the 1.8 mile Top Gear Test Track in Surrey, England. Measurements taken after the run show that the Prius returned just 14.3 miles to the US gallon, while the BMW had 12 percent better fuel economy at 16.1 miles per gallon.

"It was one of the dullest drives of my life, but in the interest of science I stuck with it," Clarkson said. "Seriously, what I'm saying is, it isn't what you drive that matters, it's how you drive it. That is everything."


And at flat out, the electric component of the Prius does not feed power into the transmission, only the gasoline engine. It wasn't even an actual comparison of fuel economy because it was just for Top Gear entertainment.

16 cycles wrote:

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby foots » May 23rd, 2019, 2:06 pm

16 cycles wrote:close the bus route to all vehicles and use it as a cycling lane....


Hmmm, I really do think that Trinidad needs to start getting cycling lanes that people can actually use to get from A to B. As opposed to cycling lanes for the sole purpose of exercising - e.g the QPS lane. Biking gives a lot of freedom compared to buses/taxis and gets you around a LOT quicker and cheaper than people think. If people realised just how much quicker a bicycle is compared to driving at rush hour they would beg for bike lanes to be provided.

The bus route is vital though, and works a lot more efficiently than our highways in terms of the sheer number of people it moves up and down the east west corridor at rush hour. It would be terrible if it was removed. The only way I could see Trinis riding up and down a distance as great as d bus route is if ebikes became available tax free AND gas/diesel went to $8/litre.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby maj. tom » May 23rd, 2019, 2:11 pm

foots wrote:
airuma wrote:I don't see the issue anyway since I would think the reason for encouraging a hybrid vehicle is to reduce our carbon footprint, an engine size > 1599cc would be counter productive IMHO.


Yeah, now that I think about it, limiting the hybrid waiver to engines under 1600cc actually makes sense from an emissions standpoint. Otherwise people will flock towards importing cars with 3l engines and a mild hybrid stop/start system. These vehicles have marginally better fuel economy than their standard ICE counterparts. Wasn't this happening before they began taxing bigger hybrids? What is the point of allowing big engined hybrids to be tax free/cheaper than a standard car if they going to have worse fuel economy than a standard, normal sized ICE car.

A lot of the 7 seater taxis fall into the category of large engined hybrids though.....perhaps it would be a good idea to have a concession for them. Every person in a taxi works out to possibly one less car on the road snarling traffic.


The 7 seater Toyota Sienta Hybrid is 1490cc. https://www.sbtjapan.com/used-cars/any/?stockid=IY4135 And I have seen a few dealers bringing them down, so that means they're selling.
What a disgusting ride for the passengers though.
The world IS in fact going this way of the hybrid... for the 3rd world markets anyway. They are making more compact and efficient engines for consumer cars. People who love their mango tree Nissan mechanic will bad talk it, but there are quite a few places that that have certified servicing for these vehicles. The average lifespan of a hybrid battery is 15 years.

P.S. I have a feeling that only Nissan ppl does bad talk hybrids because Nissan is woefully behind on this tech in the consumer market and their stupid little blue "Pure Drive" badges on carbon emission which mean squat in reality compared to a hybrid.

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Re: Gov't lost $350m from tax waivers on hybrid vehicles

Postby zoom rader » May 23rd, 2019, 2:41 pm

PNM ppl and kool lees getting bull right front and centre.

Only PNM big chits and 1% getting to drive what they want at tax free while some evade taxes through their businesses

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