Transportation & Fuel Source Technology
Hybrids Cost Less Than Peers Over Long Term
A survey released today by PRIMEDIA's IntelliChoice-com, the leading source for automotive ownership cost and value analysis, reveals that the twenty-two hybrid vehicles currently on the market save their owners more money than the other vehicles in their respective classes.
"With the number of hybrids now on the market, the end of 2006 was an opportune time to examine the cost performance of each hybrid model with respect to the rest of the vehicles in their peer group," said James Bell, publisher of IntelliChoice.com. "Across the board, we found that all twenty-two hybrid vehicles have a better Total Cost of Ownership (TCO) over five years or 70,000 miles than the vehicles they directly compete against."
Bell said that aside from lower fuel costs, other factors playing a role in hybrids' cost performance are better-than-expected depreciation and resale value. Also, contrary to skeptics and critics, repair and maintenance costs have not proven to be higher than those of other vehicles.
"Up to now," Bell added, "The Prius has been the darling of the hybrid set, and it remains our highest rated value for hybrid vehicles. But this survey validates the cost performance of the other many hybrid models that are currently on the market. All of the hybrids in our study have achieved 'Excellent' ratings in their respective classes from IntelliChoice.com."
IntelliChoice.com's hybrid survey ranks hybrids in order of their performance against their peer group:
|Brand||Model||5Yr Expected Cost||5Yr Actual|
|Honda||Civic Hybrid (Auto)||31595||23268|
|Honda||Civic Hybrid w/Nav (Auto)||32843||24891|
|Toyota||Highlander Hybrid 2WD||44841||34038|
|Lexus||RX 400h 2WD||54121||41472|
|Lexus||RX 400h AWD||55509||42681|
|Toyota||Highlander Hybrid 4WD||45868||35690|
|Lexus||RX 400h AWD (Original Version)||57231||45640|
|Toyota||Highlander Hybrid Limited 2WD||48409||38902|
|Ford||Escape Hybrid 2WD||39361||32188|
|Toyota||Highlander Hybrid Limited 4WD||49436||40552|
|Ford||Escape Hybrid 4WD||40839||34696|
|Honda||Insight AC (Auto)||30354||26424|
|Honda||Insight AC (Manual)||29690||26212|
|Honda||Accord Hybrid w/Nav System||42305||37411|
|Chevrolet||Silverado LT Hybrid 2WD*||42840||39377|
|GMC||Sierra SLE Hybrid 2WD*||43041||39709|
|Chevrolet||Silverado LT Hybrid 4WD*||45345||42260|
|GMC||Sierra SLE Hybrid 4WD*||45824||42884|
* All trim lines 1500 Extended Cab
When analyzing Total Cost of Ownership, IntelliChoice.com focuses on seven key criteria, including depreciation, fuel cost, finance costs, insurance, repairs, maintenance and applicable state fees. In the case of hybrids, IntelliChoice.com also factors in federal tax credits.
For the survey, 2006 model year hybrids were analyzed for their Total Cost of Ownership over a five-year or 70,000-mile period. The five-year expected Cost of Ownership for each hybrid vehicle is based on the average cost of all vehicles in each class.
"Hybrids are proving themselves to be an excellent alternative for car buyers. Even when factoring in the additional upfront costs for their purchase, the long-term savings hybrids generate makes them a sensible and attractive purchase," said Bell.
Against all criteria, IntelliChoice.com found the Toyota Prius to be the best in overall class. Along with the Toyota Prius, the Honda Civic, Toyota Highlander, Ford Escape and Honda Insight also received top marks for value. Some of the top hybrids in the 2006 survey were previously awarded IntelliChoice's Best Overall Value of the Year (BOVY). IntelliChoice.com's BOVY awards recognize cars, trucks and SUVs that will cost significantly less to own than would be expected of vehicles at their purchase prices. A listing of 2006 winners and more information on the awards can be found at www.intellichoice.com
2007 ownership costs on all new hybrid and regular models will be available from IntelliChoice.com in late January.
More Transportation & Fuel Source Technology Articles
Stanford researchers seek 'Holy Grail' in battery design
Volvo Car Group Makes Conventional Batteries a Thing of the Past
Tesla Model S Achieves Best Safety Rating of Any Car Ever Tested in the U.S.
Pure Electric BMW i3 Premieres in New York, London and Beijing
Smith Electric Vehicles to Open Manufacturing Facility In Chicago
BMW and Toyota Partner to Develop Fuel Cells
Tesla Motors Secretly Develops Solar Powered EV Charging Station Network
Quantum Demonstrates Plug-In Hybrid Electric F-150 Pick-Up Truck
NASA Goes Green: NASA Selects Green Propellant Technology Demonstration Mission
Increase in Popularity of Alternative Transportation Leads to Decrease in Oil Usage
even more articles...
Suggest an Article for Green Progress