IntelliChoice.com 2008 Annual Hybrid Survey Shows Economic Benefits of Going Green
IRVINE, CA (April 22, 2008) - IntelliChoice.com's Hybrid Survey for 2008, released in time for Earth Day, punctures some of the myths around hybrids and shows that several hybrid car models are cheaper to own than their non-hybrid counterparts. A keen observer of how environmental concerns are impacting the auto market, IntelliChoice.com is the leading source for automotive ownership cost and value analysis and is part of SOURCE INTERLINK MEDIA.
"The long-standing myth about hybrids is that they cost more to own and struggle to justify their higher sticker prices," said James Bell, publisher and editor of IntelliChoice.com. "This is not true. In fact, half of the 24 hybrid models on the market in 2008 perform better than their non-hybrid counterparts in terms of overall cost to own. The bottom line is that hybrids are also a Smart economic choice and not just about 'going green' anymore."
Bell added, "Our third annual survey provides a comprehensive, across-the-board analysis of how hybrids perform as soon as they are driven off the lot."
IntelliChoice.com's Hybrid Survey compares hybrid and non-hybrid versions of the same vehicle for the 2008 model year. The survey examines how each vehicle performs based on a projected Total Cost of Ownership figure over five years or 70,000 miles. Besides fuel costs, which are considered the primary savings point for hybrid cars, the survey factored in other major cost items that consumers often overlook such as maintenance and repair costs and car insurance.
"We want to show that the argument for or against hybrids is larger than just expected fuel costs," said Bell. "You have to look at all of the driving factors like maintenance, repairs, and resale value. You have to look at the whole picture."
Get the IntelliChoice 2008 Hybrid Survey as a PDF
The Survey
IntelliChoice.com's 2008 Hybrid Survey pits hybrid cars against their non-hybrid counterparts in a number of important cost areas. For instance, the Ford Escape Hybrid 4WD is compared against the "regular" or gas-only Ford Escape 4WD. The chart below, just one set of data from the survey, shows how hybrids' higher sticker prices can be offset by savings in their overall cost of ownership.
| 2008 Model and Trim | MSRP Difference | 5-Yr Cost of Ownership Difference |
|---|---|---|
| Chevrolet Malibu Hybrid | $1510 | -$439 |
| Toyota Prius (vs. Camry) | $2,855 | -$3,430 |
| Honda Civic Hybrid | $3,090 | -$2,634 |
| Lexus GS 450h | $2,280 | $965 |
| Saturn Aura Hybrid | $2,395 | -$631 |
| Ford Escape Hybrid 2WD | $2,500 | -$5,549 |
| Mercury Mariner Hybrid | $3,140 | -$5,031 |
| Toyota Highlander Hybrid 4WD | $4,950 | $2,413 |
The excerpted data above shows that, of the eight models selected, the hybrid versions of each model carry a higher MSRP. However, six of the hybrid cars deliver lower cost of ownership over five years, and three of them--the Prius, the Ford Escape Hybrid and the Mercury Mariner Hybrid--deliver cost savings that exceed the MSRP.
In addition to a more comprehensive look at the data above, IntelliChoice.com's 2008 Hybrid Survey examines how hybrids perform against the marketplace in terms of resale value and maintenance.
About IntelliChoice.com
IntelliChoice.com, part of SOURCE INTERLINK MEDIA, is the market leader in automotive ownership cost and value analysis. Founded in 1986, IntelliChoice.com is committed to empowering consumers to make better purchase decisions by providing independent and essential automotive information and tools. Through the IntelliChoice.com web site (www.intellichoice.com), consumers get the help they need to research, compare, configure and price vehicles. The site also connects buyers to the buying alternatives of their choice, including vehicle manufacturers and an online car buying guide. SOURCE INTERLINK MEDIA is a division of Source Interlink Companies, Inc., (NASDAQ: SORC), a media and marketing services company. Source Interlink (www.sourceinterlink.com) is one of the largest publishers of magazines and online content for enthusiast audiences and a leading distributor of home entertainment products, including DVDs, music CDs, magazines, games, books and related items.
