Admits Some Hybrids Cars can Save Buyers – Toyota Prius and Honda
Civic Best Savings – Stop and Go Drivers Save Most Money
March 9th 2006
There has been a
big controversy as of late about the economic benefits of hybrid
cars after Consumer Reports stated in its April auto issue that no
hybrid vehicle can save money compared to a gasoline peer. The
special issue has already been sent out to their subscribers. Now
the magazine says they were wrong.
Now the magazine
says that some hybrids will save you money over a five year period.
The Toyota Prius and Honda Civic Hybrid, will save their owners $406
and $317, respectively.
Reports says that the other four hybrids it looked at are still more
expensive than their gasoline counterparts, but the estimates were
wrong on those as well. The loss estimates are less than originally
included many factors in their calculations including the premiums,
a new federal tax credit for hybrids, sales tax, fuel savings,
insurance, maintenance, depreciation and financing. They also claim
that most hybrids are still not worth the extra cost.
So who should
consider a hybrid? Since the hybrids run on batteries, not gas when
stopped; drivers in city traffic will benefit the most. The car will
likely save if drivers are stuck in stop and go traffic to and from
work daily as well.
A new survey by
KPMG of 140 automotive executives around the world showed that 88
percent believe hybrid cars will make the biggest gains in market
share over the next 5 years. If they are right those car
manufacturers that are geared towards the larger, high capacity
vehicles will suffer.
By Dan Wilson
Best Syndication Staff Writer
Keywords and misspellings: hibrid car electric pryus acord