IntelliChoice.com Survey: Hybrids Cost Less Than Peers Over Long Term
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DETROIT--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 |
Trim |
5Yr Expected Cost |
5Yr Actual |
||||
| Toyota | Prius | 33305 | 19897 | |||||
| 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 | ||||
| Mercury | Mariner | Hybrid | 41349 | 34331 | ||||
| Ford | Escape | Hybrid 4WD | 40839 | 34696 | ||||
| Honda | Accord | Hybrid | 40803 | 34706 | ||||
| Honda | Insight | (Manual) | 28724 | 24755 | ||||
| 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 | ||||
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* All trim lines 1500 Extended Cab |
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Methodology
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.
About IntelliChoice.com
Part of PRIMEDIA's Enthusiast Media, IntelliChoice is the market leader in automotive ownership cost and value analysis. Founded in 1986, IntelliChoice is committed to empowering consumers to make better purchase decisions by providing independent and essential automotive information and tools. Through the IntelliChoice web site (www.intellichoice.com), consumers get the help they need to research, compare, configure and price vehicles. The site also connects buyers to the buying alternatives of their choice, including vehicle manufacturers and online buying services.