Vincentric Report Identifies 11 Hybrids with Lower Cost of Ownership than All-Gas Models
In the 2012 Hybrid Analysis by Vincentric, an automotive cost-of-ownership data compiler, 11 of 25 hybrid vehicles were identified as having a lower total cost-of-ownership than their all-gasoline counterparts.
According to the Sept. 7 report, the 11 hybrids with lower ownership costs include the Lincoln MKZ Hybrid, which had the largest advantage in comparison to its gasoline alternative at a savings of more than $7,000. The other 10 hybrids include vehicles from Mercedes-Benz, Lexus, Toyota, Ford, Kia, Porsche, Honda and Hyundai.
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.
“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,” said 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 more than 2,000 vehicles configurations per model year, including depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs. Each month Vincentric re-compiles its database to take into account current vehicle prices, resale values, fuel costs, finance rates and other economic and market factors to ensure that users have access to up-to-date and accurate ownership costs.
In Vincentric’s last report on the cost of ownership of hybrid models, only four hybrids were found to have lower costs of ownership than their gas counterparts.
Related news: See Vincentric's analysis for which diesel models have lower costs of ownership than their gas models.