Tuesday, June 24, 2008

Comparing Costs of Hybrid Cars

Hybrid cars generally cost more than equivalent gasoline powered cars and the analysis below shows the amount of time it would take a buyer to break even, where fuel savings offset the premium paid for a hybrid model. Estimates are based on a 2008 car driven 15,000 miles annually with gas that costs $4.01 a gallon.

Model--Price--Hybrid Premium**--MPG (city/hwy)--Annual Gas Savings--Yrs Break Even

Toyota Prius -- $22,939 -- $3,708 -- 48/45 -- $1,073 -- 3.5

Nissan Altima* -- 22,666 -- 1,879 -- 35/33 -- 499 -- 3.8

GMC Yukon* -- 47,653 -- 5,680 -- 21/22 -- 1,170 -- 4.9

Toyota Camry -- 25,732 -- 3,046 -- 33/34 -- 562 -- 5.4

Mercury Mariner*--24,946 -- 4,324 -- 34/30 -- 784 -- 5.5

Ford Escape* -- 24,051 -- 4,622 -- 34/30 -- 784 -- 5.9

Honda Civic* -- 21,082 -- 3,601 -- 40/45 -- 587 -- 6.1

* Vehicles w/ available tax credit ** Amount car exceeds cost of comparable gas powered model.

Sources: The Wall Street Journal 6/12/08, Edmunds.com

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