Prius Still Top Ranked Hybrid, Study Finds
Gasoline-electric hybrid technology in automobiles is a very touchy subject for many people. On one side you have consumers who champion the increased efficiency and reduced emissions afforded by being able to shut down the engine when stopped and run on battery power at low speeds. The other side argues that the mileage gains aren't worth the added upfront costs associated with purchasing a hybrid.
According to new research released by IntelliChoice, naysayers may have less to argue about when it comes to the costs of owning a hybrid vehicle. The research showed that the Total Cost of Ownership (TCO) over a span of five years or 70,000 miles of hybrid vehicles is actually less than that of competing gasoline-only vehicles.
IntelliChoice based their results on seven criteria: depreciation, fuel costs, finance costs, insurance, repairs, maintenance and applicable state fees. Factors that allowed hybrids to come out on top include better than expected resale value and depreciation, lower repair/maintenance costs and lower fuel costs.
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