Some Hybrid Vehicles Can Save Thousands
BINGHAM FARMS, Michigan – December 14th, 2017 – Vincentric, LLC announced the 2017 U.S. Hybrid Analysis results today with 26 of the 65 hybrids evaluated, or 40%, having a lower total cost of ownership compared to their closest all-gasoline powered counterpart. Since 2012 the percentage of cost-effective hybrids has steadily decreased, with the trend changing in 2017 as the rate increased 16 percentage points compared to the 2016 Vincentric U.S. Hybrid Analysis.
The 2017 Vincentric Hybrid Analysis measured a total of 130 vehicles, split evenly between hybrids and all-gasoline vehicles. Luxury cars had the highest percentage of cost-effective hybrids at 46%, while Passenger Cars and SUV/Crossovers had a lower percentage of cost-effective hybrids at 39% and 36% respectively. The vehicle with the largest savings was the Lexus CT200h, showing that buyers could save $7,750 over 5 years of ownership compared to the similarly equipped Lexus IS 200t. On the other hand, buyers of the Infiniti Q50 Hybrid Premium would spend $8,315 more to drive the hybrid version of the vehicle over the same period compared to a similarly equipped Infiniti Q50 Premium. The savings for cost-effective hybrids typically occur when the savings from lower fuel costs and lower depreciation rates outweigh the price premium for that hybrid.
“Our study showed a significant increase in the percentage of hybrids that can save buyer’s money over five-years when compared to an all-gas counterpart,” said Vincentric President, David Wurster. “Understanding the value of hybrids requires looking at all ownership costs, and not just fuel savings. Only then can buyers determine whether it makes sense to pay the hybrid price premium.”
To determine the 2017 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 Vincentric 2017 Hybrid Analysis results for all vehicles analyzed can be requested from marketing@vincentric.com.
ABOUT VINCENTRIC
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.
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Contact:
Kortney Saxena
Marketing Coordinator
(248) 430 - 4121 ext. 114
Kortney.Saxena@vincentric.com
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