Low gasoline prices and improved fuel efficiency in gas-engine cars tightened the lead hybrids have over comparable non-hybrid cars, according to Vincentric’s ratings.
Seven out of 29 hybrids evaluated had lower total cost of ownership in Vincentric’s U.S. Hybrid Ownership compared to their closest all-gasoline counterparts, with five of them classified as luxury brand cars in the study. That makes up 24 percent of the total hybrids analyzed, a steep drop from 44 percent in 2012 and 32 percent in 2014, according to Vincentric.
The seven hybrids passing the mark in this year’ study were the Audi Q5 Hybrid, Ford Fusion Hybrid, Lexus CT 200h, Lexus ES 300h, Lincoln MKZ Hybrid, Toyota Avalon Hybrid, and Toyota Prius C. The Lexus CT 200h (as seen in the photo above) had the best savings in total cost of ownership at $8,728; the Audi Q5 Hybrid had the best numbers compared to its gasoline model, with $4,484 in savings.
The Lexus NX 300h and the Infiniti Q70 Hybrid had the best fuel savings at $3,546 and $3,443, respectively. Overall, eight of the total 29 hybrids in this year’s analysis study had fuel cost savings greater than the price premium paid for the hybrid.
SEE ALSO: Vincentric Study: Hybrids Are Worth It
“There are still instances when a hybrid’s cost of ownership savings justify the hybrid price premium,” said Vincentric President David Wurster in a press release. “Hybrids, however, may be losing their competitive edge due to the decrease in fuel price 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.”
As for the study’s methodology, fuel prices were based on a weighted average over the previous five months and an assumed vehicle ownership of five years and 15,000 miles driven per year. Eight different cost factors were used to determine cost of ownership: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.