Hyundai is projecting a base price of around $25,000 for its upcoming Hyundai Sonata Hybrid, which launches this fall, but thanks to tax credits, a buyer might be able to pick one up for even less.
A federal tax credit on purchases of hybrids that has been in place since 2006 can help buyers save up to $3,400. The credit is provided by the manufacturer, until up to 60,000 hybrids are sold. Hyundai plans to sell around 14,000 Sonata Hybrids a year.
It's hard to say how much the tax credit will be--it depends on what the final EPA numbers for the Sonata Hybrid will be (EPA numbers determine the amount of the credit). Hyundai is aiming for 36 mpg city and 40 mpg highway.
There also state incentives to consider, which could cut the cost even further. A base of $21,000 is possible, which is only a bit more than the $19,195 base price of the base non-hybrid Sonata. Given that the Sonata Hybrid will have a different face than the non-hybrid Sonata, some buyers might go for the hybrid instead.
They'll have to be decisive, though. Unless the federal government decides to renew it, the credit is expected to expire on December 31, just a month or two after the Sonata Hybrid hits the market.