Some Hybrid Vehicles Becoming Sensible Purchases, According to Edmunds.com
 2007 Ford Escape Hybrid |
For the latest installment of its "Fuel Economy Guide," Edmunds.com compared the sales prices and annual gas expenses of hybrid vehicles and their non-hybrid counterparts.
"Our study revealed that high gas prices and generous tax credits now offset the high sales prices of some hybrids, assuming owners keep their hybrids for a few years," said Alex Rosten, Manager of Pricing and Market Analysis for Edmunds.com.
Edmunds.com's study indicates that the higher purchase price is completely recovered for the Ford Escape Hybrid and Toyota Prius within three years of ownership, while buyers of the Honda Civic Hybrid, Saturn VUE Green Line and Toyota Camry Hybrid reach break-even within six years of ownership, in each case assuming the vehicle is driven 15,000 miles per year.
Below is information on the best- and worst-performing hybrid vehicles in the study.
Hybrid Cost Annual Years to Years to
Premium Hybrid break- break-
(Over Non- Gas even @ even @
Hybrid) Savings 15,000 25,000
miles per miles per
Vehicle year year
----------------------- ------------- ---------- ---------- ----------
2007 Saturn VUE 4dr SUV
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2007 Saturn VUE Hybrid
4dr SUV $1,660 $294 5.7 3.4
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2007 Ford Escape XLT
4dr SUV
----------------------- ------------- ---------- ---------- ----------
2007 Ford Escape Hybrid
4dr SUV $1,218 $425 2.9 1.7
----------------------- ------------- ---------- ---------- ----------
2007 Toyota Camry LE
4dr Sedan
----------------------- ------------- ---------- ---------- ----------
2006 Toyota Prius 4dr
Hatchback $1,393 $671 2.1 1.2
----------------------- ------------- ---------- ---------- ----------
2006 Honda Accord EX
V-6 4dr Sedan
----------------------- ------------- ---------- ---------- ----------
2006 Honda Accord
Hybrid 4dr Sedan $3,165 $280 11.3 6.8
----------------------- ------------- ---------- ---------- ----------
2006 Toyota Highlander
Limited 4dr SUV w/3rd
Row
----------------------- ------------- ---------- ---------- ----------
2006 Toyota Highlander
Hybrid Limited 4dr SUV $6,896 $445 15.5 9.3
----------------------- ------------- ---------- ---------- ----------
Full tax credits are only provided to consumers until shortly after each manufacturer has sold 60,000 hybrids. After that threshold is reached, the tax credit gets cut in half. For Toyota and Lexus buyers, that threshold has been reached -- so anyone who buys a Toyota or Lexus hybrid after September 30, 2006, will only qualify for half the tax credit. The credit for these models will drop to 25% in April 2007 and then to zero in October 2007.
"If you're in the market for a hybrid, right now is the best time to buy," said Joanne Helperin, Senior Editor of Edmunds.com's "Fuel Economy Guide." "It will take buyers much longer to break-even if their tax credit is halved."
This hybrid study assumed the vehicles were sold at the Edmunds.com True Market Value(R) price and achieved the Environmental Protection Agency's recorded mileage for combined city and highway driving. The 2006 federal tax credit was applied when appropriate. Figures were calculated based on the assumption that one gallon of gasoline costs $3.00 (which was the nation's average price for regular unleaded fuel on August 14, 2006). For more information about this study, please CLICK HERE
