Vincentric unveiled today its 2012 Hybrid Analysis, in which 11 of 25 hybrid vehicles were identified as having a lower total cost-of-ownership than their all-gasoline counterparts.
The 11 hybrids with lower ownership costs included the Lincoln MKZ Hybrid, which had the largest (over $7,000) advantage in comparison to its gasoline alternative, with additional hybrids from Mercedes-Benz, Lexus, Toyota, Ford, Kia, Porsche, Honda and Hyundai also showing cost advantages.
However, when the costs to own and operate all 25 hybrid vehicles were taken into account, the average five-year cost-of-ownership for hybrids was $1,223 more than their all-gasoline powered counterparts, assuming an annual mileage of 15,000. Fuel prices used in this report is based on a weighted average over the previous five months.
“With a large number of hybrid vehicles now on the market from numerous manufacturers, consumers have many options to reduce fuel consumption using hybrid technology,” stated David Wurster, president of Vincentric. “Our research shows that certain hybrids provide the benefits of hybrid technology, while also providing overall cost savings. However, it is important to remember that this isn’t the case for all hybrids, with low ownership costs and associated cost savings being specific to certain vehicles.”
Vincentric measures eight cost elements for over 2,000 vehicle configurations (including all models and trim levels) per model year, including depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs. For this study, Vincentric compared hybrid vehicles to their all-gas counterpart based on a similar trim level. Cost differentials may differ if other trims are analyzed.
Hybrids with a lower total cost-of-ownership:
2012 Lincoln MKZ Hybrid (-$7,001)
2012 Mercedes-Benz S Class Hybrid (-$4,242)
2012 Lexus HS 250h (-$3,747)
2012 Toyota Prius V (-$1,804)
2012 Toyota Prius C (-$1,469)
2012 Ford Fusion Hybrid (-$1,202)
2012 Kia Optima Hybrid (-$779)
2012 Porsche Cayenne Hybrid (-$672)
2012 Honda Insight (-$656)
2012 Hyundai Sonata Hybrid (-$319)
2012 Lexus RX 450h (-$17)
Hybrids with a higher total cost-of-ownership:
2012 Honda Insight ($52)
2012 Toyota Camry Hybrid ($233)
2012 Honda Civic Hybrid ($911)
2012 Toyota Prius ($1,293)
2012 BMW 5-Series Hybrid ($1,296)
2012 Porsche Panamera Hybrid ($1,772)
2012 Toyota Highlander Hybrid ($1,896)
2012 Kia Optima Hybrid ($1,949)
For those who are looking to minimize fuel purchases, it is important to know the hybrid vehicles with the lowest overall fuel costs.
According to Vincentric, they are:
2012 Toyota Prius ($5,836)
2012 Toyota Prius C ($5,837)
2012 Honda Civic Hybrid ($6,580)
2012 Honda Insight ($6,845)
2012 Toyota Prius V ($6,876)
Over the long term, Vincentric expects hybrids to provide greater value to consumers as fuel prices increase.
Ultimately, it’s important for consumers to look at their needs and the specific models available to them because depending on the current deals, driving patterns and intended length of ownership.