Hybrid Vehicles Can Save Money over Time
April 9, 2012
Hybrid vehicles are typically very well equipped with standard amenities comparable to those found on the upper trim levels of their non-hybrid counterparts. Many consumers do not settle for the base model but rather opt for the higher trim levels with amenities that come standard on the hybrid model. For these consumers, a hybrid vehicle can offer real savings over time. The table below shows a selection of hybrid vehicles available for the 2012 and 2013 model years paired with a comparably equipped non-hybrid vehicle from the same manufacturer. With the exception of the Lincoln MKZ and Buick LaCrosse, where the hybrid model is offered as a zero cost alternative to the six cylinder model, the cost premiums for the hybrid models fall within a range of about $1,400 to $5,000*. The vehicles shown in the table below are those with a payback period of less than five years when the price of fuel is $4.00 per gallon.
Hybrid vs. Non-Hybrid Vehicle Cost Comparison, Model Years 2012–2013
Note
Fuel savings and years to pay back are based on an assumption of 15,000 annual miles. Hybrid vehicles were matched to their most comparable non-hybrid counterpart in terms of vehicle content and performance within the same manufacturer. The Toyota Prius, Prius c and Honda Insight are unique hybrid models without a direct non-hybrid counterpart for comparison. They were matched to the model that was deemed closest to offering the same utility and amenities. No attempt was made to include cost factors beyond vehicle purchase price and fuel costs such as insurance, long term maintenance or resale value.*The $545 price difference shown for the 2013 Chevrolet Malibu Eco is disregarded in this price range because it is compared to a 2012 conventional Malibu. There was no conventional Malibu available for the 2013 model year at the time the comparison was made. The 2013 Malibu Eco is a completely redesigned model versus the 2012 model so the added costs associated with the hybrid system are difficult to measure.
Source
Compiled by Robert Boundy, Roltek, Inc., Clinton, TN, from manufacturer websites and the Fuel Economy Guide. Data accessed March 22, 2012.