CONSUMER REPORTS ANALYSIS: SOME HYBRID CARS CAN SAVE OWNERS THOUSANDS OF DOLLARS OVER FIVE YEARS
Saturday, October 18th, 2008
Toyota Prius and hybrid versions of Chevrolet Malibu, Chevrolet Tahoe, Ford Escape, Saturn Vue, and Toyota Camry pay back price premium after one year
YONKERS, NY — With gas prices soaring, Consumer Reports’ latest analysis of owner costs shows that drivers can save anywhere from $500 to $4,250 over a five year ownership period by choosing selected hybrids rather than similar conventional gasoline–powered vehicles.
Six of the 12 hybrids CR experts looked at — Toyota Prius and hybrid versions of the Chevrolet Malibu, Chevrolet Tahoe, Ford Escape, Saturn Vue, and Toyota Camry — can save consumers about $500 to $4,250 even without tax credits, and pay back their price premium after only one year. For several of these hybrids, owners can save even more by taking advantage of federal tax credits.
CR experts compared the five-year owner costs of 12 hybrids with those of similar conventional vehicles using Consumer Reports’ new-car owner-cost estimates, introduced in the April 2008 issue.
The Toyota Camry hybrid, which gets 34 mpg overall in CR’s tests, saves the most money, about $4,250 over five years compared with a similarly equipped four-cylinder Toyota Camry XLE, which gets 24 mpg.
