The end of the year is coming fast for buyers of hybrid cars, as tax incentives run out when the new year arrives, according to the Wall Street Journal (subscription required)

The tax credit for the Honda Civic hybrid ends at the end of the year, just like it did about a year ago for Toyota Motor Corp.'s Prius, a strong-selling hybrid that gets about 46 miles per gallon. The federal government is phasing out the same incentives for Honda Motor Co.'s Civic hybrid, which gets 42 miles a gallon.

According to the Journal, hybrid tax incentives start to go away when a car maker sells its 60,000th alternative-fuel vehicle, a level Toyota reached in mid-2006 and Honda hit in the third quarter of 2007. The amount of the tax credit is first reduced by 50% before disappearing altogether over several months. Honda's $525 tax credit will be phased out by Dec. 31, according to the Internal Revenue Service. The Civic credit had been as high as $2,100 before the phase-out began in January 2008.

As GM waits in line for handouts for its struggling company, it's made it very clear that they still just don't get it. The company has been late to the hybrid party, Toyota and Honda have had top selling hybrids for years. So what does GM do? Develops the Chevrolet Volt.

The Volt only runs on electricity. The battery pack is recharged via either a wall-outlet, like a "regular" electric or plug-in hybrid, or an on-board generator. When running full electric, Volt can deliver about 40 miles of driving.

However, with its 1.0 liter turbo four cylinder driving the generator to recharge the batteries, range increases to 640 miles. This certainly is more with what is happening than the Hummer, but let's look at the price tag: $40,000 or so.

I don't know about you but I would never pay that much for a car. I like to buy cars for $10,000 or less that get more than 50 miles to the gallon. My next car will be the Honda hybrid that gets over 70 miles to the gallon and retails new for less than $20,000. GM still doesn't get it. People are looking for quality transportation at a low cost.

At this rate, it will be back at the trough for more bailouts.

Barbara Bartlein is the People Pro. For her FREE e-mail newsletter, please visit: The People Pro.

When they were first introduced, the only hybrid cars on the market were Toyotas and Hondas -- small, practical cars that were admittedly a little funny-looking. These vehicles were much more about economy than style. Luxury automakers were slow to jump on the hybrid bandwagon, as their target customers have not generally been too concerned with the cost of fuel.

Times have changed, though, and rising fuel costs are affecting even the wealthiest sectors of the population. Environmental concerns are growing, too, and hybrid cars are in very high demand. In June 2009, Mercedes will begin selling its first hybrid -- a large car that balances fuel economy with sexiness.

At 30 miles per gallon, the new model will approximately double the mileage of the non-hybrid luxury S-class sedan, but it's still no 60mpg Prius. Mercedes execs argue that this large car is more practical for their customers, with plenty of space to pack for vacations. There's no official price tag just yet, but Mercedes Marketing Director Klaus Maier estimates a premium of less than €10,000, or $14,000. That would put the total price in the neighborhood of $100,000 - $160,000, depending on options.

I've never really been a status symbol kind of guy. I usually shop at discount stores, wear cheap sneakers and, until my wife started openly mocking me, used to buy Wrangler jeans. I would argue that I have my own distinctive style. Others might refer to it as "charity chic."

This goes double when it comes to cars. Historically, my rides have tended to display a certain flair, a certain je ne sais freaking quoi, a certain verve.

Of course, others might refer to this elusive quality as "rust."

That having been said, I loved my 20 year old Mercedes, my 15 year old Mustang and my ten year old Cadillac Seville, even as I squeezed the last few miles from each of their engines. If people weren't impressed with the amazing awesomeness of my rides...well, let's just say that cool is a state of mind; some have it and some don't. I never really understood the idea of buying a ridiculously expensive car that looks like pretty much every other ridiculously expensive car. Hummers? Give me a break--why not just buy a surplus tank? BMWs? Save the money and take her to a nice restaurant!

My idiosyncracies aside, prestige automobiles are a very real trend and the cars that people drive often say a great deal about who they are, or at least who they think they are. However, now that gas is starting to rival single-malt scotch in terms of price, people who have used Hummers, Ferraris and Bentleys to overcompensate are finding themselves generating more sneers and fewer smiles. Under these circumstances, a very strange trend has developed. The latest prestige rides are hybrids. In fact, the demand for hybrids has reached such a level that the waiting list for a Camry hybrid in Long Island is six to eight weeks. In New York City, the wait for a Toyota Prius is two to four months.

Rising gas prices are everywhere in the news as the fall-out continues. One article fears for $5 gas by July 4, others focus on the unlikely winners in the wake of such high prices at the pump, like Segway scooters. Meanwhile, if you are driving in your car still these days, it will get easier to choose which satellite radio service to purchase, since the FCC approved the merger of XM and Sirius.

News nuggets you need to know today:

• Rise in gas ripples through the economy
• Gas prices forcing many to pick up and move
• Floods May Send Gas Up 15 Percent
• $5 Gas Likely by July 4th; Get Ready for 'Stay-Cation'
  
• Price Jolt: Electricity Bills Going Up, Up, Up
• High Gas Prices Boost Interest in Segway Scooters
• Gas Prices, Economy Ease Shortage of Truckers
• Where to Find Deals as Inflation Soars

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