Over half of the 79 hybrids analyzed will save buyers money when compared to similar gasoline-powered vehicles.
BINGHAM FARMS, MI, USA, November 27, 2018 /EINPresswire.com/ — Vincentric, LLC announced the 2018 U.S. Hybrid Analysis results today with 42 of the 79 hybrids evaluated (53%) having a lower total cost of ownership compared to their closest all-gasoline powered counterpart. This is an increase from the 2017 study in which approximately 40% of the hybrids analyzed were cost-effective.
The average price premium for a hybrid vehicle was $3,687 more than its all-gasoline powered counterpart. The study showed that while hybrids had an average fuel savings of $2,849 and average maintenance cost savings of $401, the average total cost of ownership for hybrids was only $64/year more than the all-gasoline powered equivalents over five years. However, on individual vehicle basis in most cases the lower ownership costs were greater than the hybrid price premium.
Luxury cars had the highest percentage of cost-effective hybrids at 64%, while SUV/Crossovers and Passenger Cars had a lower percentage of cost-effective hybrids at 58% and 53% respectively. The vehicle with the largest savings was the Ford Fusion Hybrid Titanium, showing that buyers could save close to $6,400 over 5 years of ownership compared to the similarly equipped all-gasoline powered version. On the other hand, buyers of the Infiniti Q50 Hybrid Luxe would spend almost $13,000 more to drive the hybrid version of the vehicle over the same period compared to a similarly equipped all-gasoline powered Infiniti Q50 Luxe.
“The number of cost-effective hybrids has increased significantly from last year’s analysis,” said Vincentric President, David Wurster. “Our research shows that the lower hybrid costs for fuel and maintenance now gives buyers a larger variety of cost-effective, eco-friendly vehicles to choose from.”
To determine the 2018 U.S. Hybrid Analysis, Vincentric conducted a statistical analysis of hybrid vehicles to provide consumers and the automotive industry with insightful information on the cost of owning and operating a hybrid. Fuel prices used in the analysis were based on a weighted average over the previous five months. The report also assumes the vehicle is owned for five years and 15,000 miles are driven annually. Vincentric measured total cost of ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
Further information regarding the 2018 Vincentric U.S. Hybrid Analysis results for all vehicles analyzed can be requested from email@example.com or visit the Vincentric.com Hybrid Analysis Page to view the 42 cost-effective vehicles.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric data is used by organizations including Cars.com, Mercedes-Benz, Toyota, NADA Guides, Business Fleet Magazine, Nissan, and many others as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.
Source: EIN Presswire