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"House Committee Axes Hybrid Tax Breaks   The House Ways and Means Committee dropped a plan to offer tax credits to consumers who buy gas-electric hybrid vehicles, the Detroit News reported.   The tax credits were included in the Bush administration&amp;#039;s budget but House committee chairman Bill Thomas, R-Calif., said they were no longer necessary because consumers would buy the hybrids without government help, the News said.   The move could be blow to the auto industry because automakers argue that the tax credits are a necessary incentive to entice consumers by buy fuel-efficient hybrids in large numbers. The industry argues that the tax incentive is needed to cover the costs of the hybrid technology, which can reach $3,000 or more per vehicle.   At the same time, the Senate Finance Committee included hybrid tax credits of up to $1,000 per vehicle in its version of the energy tax package. The issue will have to be sorted out by a vote of the full House, the full Senate and a conference committee before becoming law.   Ford Ends Leasing in New York   Ford Credit, the company&amp;#039;s finance arm, says that it plans to &amp;quot;exit automobile leasing in New York in early July 2003.&amp;quot; The company cites &amp;quot;an outdated law that holds leasing companies responsible for accidents involving their leasing customers.&amp;quot;   Ford said in a statement that &amp;quot;New York&amp;#039;s vicarious liability law has resulted in large payouts by leasing companies to resolve litigation.&amp;quot;   According to the Dow Jones Newswires, New York&amp;#039;s &amp;quot;antiquated leasing laws&amp;quot; hold leasing companies responsible for accidents involving the leasing customer. Called vicarious liability laws, the rules date to the early 20th century in an attempt to protect people from accidents involving livery drivers, who were often penniless. Vicarious liability gave accident victims the right to sue the company owning the vehicle.   General Motors said it is also considering leaving the New York leasing market.   Mitsubishi Raises Incentives on &amp;#039;03 Models   announced a new retail marketing program, effective through April 30 \u2014 0% financing for 60 months on the 2003 Montero, , , Montero Sport and Diamante.   For the and Eclipse Spyder, financing is available at 0% for 36 months. The &amp;#039;03 Outlander, &amp;#039;03 Lancer Evolution and &amp;#039;04 Endeavor are excluded.   Mitsubishi sit is also offering a deferred financing option (for qualified buyers), with no down payment, no interest and no payments until 2004. Customers who take part in the deferred financing plan also are eligible for a rebate up to $1000.   Another option includes customer cash rebates of up to $3200 on selected models.   Mitsubishi Rebates apply to the following:   2003 Lancer ALL MODELS $2,000 2003 Galant DE GA41-B $3,200 2003 Galant ES, LS, GTZ GA41-G,K,M,X,P $3,000 2003 Eclipse ALL MODELS $2,500 2003 Eclipse Spyder ALL MODELS $1,000 2003 Diamante ALL MODELS $3,000 2003 Montero Sport ALL MODELS $2,500 2003 Montero XLS MP45-B $3,000 2003 Montero LTD MP45-D, F $2,500 2003 Outlander ALL MODELS $500   SOURCE: Mitsubishi Motors North America, Inc.  "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.roadandtrack.com/car-culture/a9491/house-committee-axes-hybrid-tax-breaks/>