Lexus RX 400h Luxury Hybrid Vehicle Is Eligible for up to $2,000 Tax Deduction (6/6/2005)
Lexus announced today that it had received official notification from the Internal Revenue Service (IRS) that the 2006 model year RX 400h is certified for a clean-burning fuel deduction. This certification means that taxpayers who purchase a new RX 400h during calendar year 2005 may claim a tax deduction of up to $2,000 on Form 1040.
"Lexus RX 400h purchasers can use or take this certification to their individual tax advisors to determine how they can take full advantage of this important federal tax benefit," said Bob Carter, Lexus group vice president and general manager.
Under the Working Families Relief Act of 2004, the clean-burning fuel deduction is limited to up to $2,000 for certified vehicles first put into service in 2005 and $500 for vehicles placed in service in 2006. Currently, no tax deduction will be allowed by the IRS after 2006.
Federal law allows individuals to claim a deduction for the incremental cost of buying a motor vehicle that is propelled by a clean-burning fuel. In a May 5, 2005 statement, the IRS stated that, "By combining electric motors with a gasoline engine, hybrid vehicles obtain greater fuel efficiency and produce fewer emissions than similar vehicles powered solely by conventional gasoline-powered engines."
This one-time deduction is for purchasers only and must be taken in the year the vehicle is put into service. The IRS does not allow the deduction for lessees. The taxpayer must be the original owner and individuals do not have to itemize deductions on their tax return to claim this deduction. This benefit can be taken as an adjustment to income on the 1040 Form.
KUMHO has introduced a tire that produces red smoke. This special version of KUMHO’s ECSTA MX ultra high performance street tire, dubbed the ECSTA MX-C, made its public debut with Enjuku Racing at the Formula Drift event at Road Atlanta. The ECSTA MX-C was developed at the KUMHO Technical Center in Akron, OH. They developed the right mix of chemicals and now have a patent pending for their colorful compound. They’ve also developed a compound that produces blue tire smoke. Following successful testing, KUMHO produced a limited number of the tires. Kumho does not intend to sell the ECSTA MX-C to the general public, but rather demonstrates their technical capabilities.
The Bugatti Veyron prototype recently made a success of a test of homologation by exceeding the 250 mph. The test took place with the measurements repeated at Volkswagen^s test track and was approved by the "TUV", the technical authority supervising Germany. Bugatti had announced last November to have already received about fifty orders for its future Veyron. The first models must be delivered by the second half of 2005, to rich customers who paid 300,000 Euros as an installment. Each car will be invoiced at 1 million Euros. The car, which is said to accelerate from 0 to 60 mph in three seconds, will be produced on order, at a rate of about fifty per year..jpg)
The BMW 3 Series, as just about everyone who cares about cars and driving knows, is an icon. It’s an icon for many reasons: Among them are its style; its quality; its unique combination of performance, practicality and European luxury in a compact package. Yet above all, the 3 Series’ iconic status derives from how it drives. Over the decades, the 3 Series has always been remarkably agile and pleasurable to drive, without compromising comfort and everyday usability. Though many have tried and are still trying, no one else quite knows how to match this constellation of attributes. The new 3 Series, making its debut as the E90 1 Sedans, evolves this concept. 
Cadillac has launched a new front-wheel-drive sedan midsize sedan model specifically for the European market. Named the BLS, it is based on the platform shared with the Saab 9-3 and Opel Vectra. Engines include include two 2.0-liter inline-fours, both turbocharged, and one 2.8-liter V-6, along with a 1.9L turbodiesel. All can be combined with either manual or automatic transmissions. Special features include BOSE audio, DVD-based navigation with touch screen operation, Bluetooth-capable telephone systems, remote controls on the steering wheel and 19-inch alloy wheels. 
Ferrari has unveiled the Spyder convertible version of its F430 coupe. Most of the mechanicals are identical to the standard F430, including its all-new 4.3L 490 hp V8. The roof is a cloth-top instead of a hardtop. The roof styling is similar to the outgoing F360, with numerous cut-lines indicating panels that open up to store the roof. The Spyder is expected to carry a $20,000 premium over the hardtop when sales start sometime next summer. 
d the new Exige, a direct motorsport derivative of the successful roadcar. It features a new lightweight carbon-fibre bodywork structure around the standard Exige chassis. An aerodynamically developed front splitter, carbon fibre rear diffuser and an adjustable carbon rear wing provide increased levels of downforce. The Lotus Sport designed fully adjustable suspension system with double wishbones all round was fabricated and manufactured by Pilbeam. Power is provided by a 400 hp Swindon Racing Engines tuned GM 3 litre V6 racing engine linked to a Hewland sequential six-speed gearbox, with AP-Racing providing the braking system. 
Refreshed 7-Series models are soon to be launched by BMW, following criticism for its radical styling. The 2006 750i and 750Li will feature a new 4.8 liter VALVETRONIC V8 engine capable of 360 horsepower. 
The new models feature new headlights and taillights with a 0-100 kph time of just 6.0 seconds. The BMW 760i/Li V12 remains unchanged, with engine output of 438 horsepower. The new models also feature an updated iDrive computer system, two-stage adaptive brakelights, MP3 player and Bluetooth-enabled phone system. 
The presidential limousine is a unique hand-built vehicle with a host of secret features and state of art protection and communication features. The jet-black limo is much longer and taller than the production DTS, but its egg-crate grille Cadillac badge, vertically stacked xenon headlights and the brand^s signature LED taillights look just like the restyled 2006 model of Cadillac^s largest car that will be introduced at the Chicago auto show in February. The six-passenger limo^s specifications are classified, but the interior features a foldaway desktop and reclining rear seats with adaptive cushions that automatically adjust for its occupants^ comfort. The rear compartment has its own sound system with a 10-disc CD changer. Flush-mounted high-intensity discharge lights in the car^s front fenders illuminate the U.S. and presidential flags at night. 
Bentley released photos of the Continental GT-based Flying Spur. The new Grand Tourer will feature supercar performance with a top speed in excess of 190 mph and a 0-100km/h time of around five seconds; a 552 horsepower, 6-litre, twin-turbocharged, 12-cylinder engine, engineered and built at Bentley^s factory in Crewe; a high-tech, all-wheel-drive system; and a five or four-seat layout, with spacious rear leg room. Customers will have the option of a four-seat layout with a central console between two electrically-powered rear seats or a five-seat cabin with full-width rear seat. The Flying Spur goes on sale in the Spring of 2005.