mchastek
07-06-2005, 04:55 PM
http://www.freep.com/money/business...1e_20050611.htm (http://www.freep.com/money/business...1e_20050611.htm)
LEADING INDICATORS: Hybrids cost more to buy, operate
Autos
No doubt about it. Hybrid cars and trucks are hot. Going farther on a gallon of gas not only seems like a smart financial move in an era of $2-a-gallon gas, but you feel like you're doing your part to save the environment, too.
But will that popularity endure as the financial reality of hybrids becomes more clear: Lower fuel bills don't offset the extra cost of a gas-electric powertrain.
A new study by Edmunds.com, a California-based research company, shows that hybrids typically cost thousands more to buy, fix and run over a five-year period than comparable, conventionally powered vehicles.
The Ford Escape Hybrid, for example, costs $3,429 more to buy and run than an all-wheel-drive Ford Escape XLT. Gas would have to cost $5.60 a gallon, or you'd have to drive that hybrid 37,000 miles a year, to break even with the conventionally powered Escape.
The Toyota Prius costs $5,283 more than a Toyota Corolla LE. Gas would have to cost $10.10 a gallon or you'd have to drive the Prius more than 66,500 miles a year to break even with the Corolla.
Looking for a break-even proposition? Edmunds.com puts the total cost of a Prius at about that of a Toyota Camry LE. But are those truly comparable cars? Not in LI's opinion.
LEADING INDICATORS: Hybrids cost more to buy, operate
Autos
No doubt about it. Hybrid cars and trucks are hot. Going farther on a gallon of gas not only seems like a smart financial move in an era of $2-a-gallon gas, but you feel like you're doing your part to save the environment, too.
But will that popularity endure as the financial reality of hybrids becomes more clear: Lower fuel bills don't offset the extra cost of a gas-electric powertrain.
A new study by Edmunds.com, a California-based research company, shows that hybrids typically cost thousands more to buy, fix and run over a five-year period than comparable, conventionally powered vehicles.
The Ford Escape Hybrid, for example, costs $3,429 more to buy and run than an all-wheel-drive Ford Escape XLT. Gas would have to cost $5.60 a gallon, or you'd have to drive that hybrid 37,000 miles a year, to break even with the conventionally powered Escape.
The Toyota Prius costs $5,283 more than a Toyota Corolla LE. Gas would have to cost $10.10 a gallon or you'd have to drive the Prius more than 66,500 miles a year to break even with the Corolla.
Looking for a break-even proposition? Edmunds.com puts the total cost of a Prius at about that of a Toyota Camry LE. But are those truly comparable cars? Not in LI's opinion.