Buyers should analyze individual models and their own driving patterns to decide whether a hybrid or its gas counterpart is the best choice to save them money in the long run.
Bingham Farms, MI (PRWEB) August 23, 2016
Vincentric, LLC announced its most recent U.S. Hybrid Analysis today, with results showing seven of the 29 evaluated hybrids having lower total cost of ownership compared to their closest all-gasoline-powered counterpart. This represents a continued decrease in cost-effective hybrids, dropping from 44% in 2012 and 32% in 2014, to just over 24% in today’s study.
The seven low-cost hybrids were the Audi Q5 Hybrid, Ford Fusion Hybrid, Lexus CT 200h, Lexus ES 300h, Lincoln MKZ Hybrid, Toyota Avalon Hybrid and Toyota Prius C. These hybrids were cost-effective due primarily to the declining fuel costs seen across the U.S., although the results also revealed that five out of the seven cost-effective hybrids depreciated at a lower rate than their all-gasoline equivalents, contributing to their cost advantage.
Furthermore, the Audi Q5 Hybrid offered the greatest hybrid-over-gasoline-powered-vehicle total cost of ownership savings for a direct hybrid-to-gasoline model comparison, with $4,484 in savings. For consumers looking to save at the pump, the Lexus NX 300h and the Infiniti Q70 Hybrid exhibited impressive fuel savings of $3,546 and $3,443, respectively. Overall, eight of the total 29 hybrids had fuel cost savings greater than the price premium paid for the hybrid.
“There are still instances when a hybrid’s cost of ownership savings justify the hybrid price premium,” said Vincentric President, David Wurster. “Hybrids, however, may be losing their competitive edge due to the decrease in fuel prices and improved fuel economy of all-gasoline-powered vehicles. Buyers should analyze individual models and their own driving patterns to decide whether a hybrid or its gas counterpart is the best choice to save them money in the long run.”
Vincentric conducted this detailed analysis of 2016 hybrid vehicles to provide consumers and the automotive industry with insightful information on the cost of owning and operating a hybrid. Fuel prices used in the analysis were based on a weighted average over the previous five months. The report also assumes the vehicle is owned for five years and 15,000 miles are driven annually. Vincentric measured total cost of ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost and repairs.
Further information regarding the 2016 Vincentric Hybrid Analysis and a chart showing results for all vehicles analyzed is available at http://www.vincentric.com.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric data is used by organizations such as AOL, Business Fleet Magazine, Cars.com, FCA, Fleet-Central.com, Ford, General Motors, Mercedes-Benz, Mitsubishi, NADA Guides and Nissan as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.