Hybrid Value Proven (Again)
Jan. 9, 2007: The Los Angeles Times—Hybrid Autos Save Money in Long Run, Study Finds
Summary: "Hybrid vehicles are proof of the old saw that you’ve got to spend money to save it, a new study shows.
In recent years, studies by Consumer Reports and others have shown that most hybrids won’t save owners enough money on fuel alone to make up for their higher initial prices.
But a new study by Los Angeles-based Intellichoice.com, which specializes in automotive cost-of-ownership data, says that hybrid buyers are still the winners when you factor in costs of financing, fuel, insurance, state taxes and license fees, repairs, maintenance and depreciation."
That’s right, folks. Hybrids’ money-saving action includes more than just fuel costs. Owners of the value champion Prius can hoard over $13,000 in five years, compared to similar-sized cars. Even owners of GM’s barely-hybrid pickups keep around an extra $3000 in their own pockets.
But remember, the first Consumer Reports study was retracted nearly right away due to flawed data. So this new study, while detailed and welcome, isn’t such a huge change after all.