Hybrid car sales are heating up. Higher gas prices and good word-of-mouth are prompting more Americans to try hybrid cars, which combine gasoline engines with battery-powered electric motors. Hybrid cars from Toyota and Honda have racked up record sales since early 2003. Nearly 88,000 hybrid-electric vehicles were sold nationwide during 2004, making up 0.52 percent of the total U.S. light-vehicle market, reports J.D. Power and Associates, a marketing information and research firm based in Agoura Hills, Calif. Industry experts expect hybrid sales to continue accelerating sharply in the next few years. | Hybrid launch dates in North America | Make and model | Release date | Dodge Ram pickup | 2005 | Toyota Highlander SUV | Summer 2005 | Mercury Mariner SUV | Fall 2005 | Saturn VUE SUV | 2006 | Nissan Altima sedan | 2006 | Chevrolet Equinox SUV | 2007 | Chevrolet Malibu sedan | 2007 | Chevrolet Tahoe SUV | 2007 | GMC Yukon SUV | 2007 | Mazda Tribute SUV | 2007 | Chevrolet Silverado pickup | 2008 | Ford Fusion sedan | 2008 | GMC Sierra pickup | 2008 | Mercury Milan sedan | 2008 |
Hybrid sales are expected to climb to 200,000 this year, 260,000 in 2006 and 535,000 in 2011. The reason? A flurry of new hybrid models, including pickup trucks and sport utility vehicles will be available. "As hybrid vehicles continue to become available in more segments, they also appeal to a broader range of consumers," says Anthony Pratt, senior manager of global powertrain forecasting at J.D. Power-LMC. "Hybrids, which until very recently were available only in compact cars, are now available in mid-size cars, SUVs and pickup trucks. "Consumers have a broader range of hybrid options today than they had just two years ago, and that will continue to grow. We expect the number of hybrid models on the market to grow from 11 this year to nearly 40 by the end of the decade." So families that prefer an ultra fuel-efficient and eco-friendly set of wheels will have a lot more choices in the next couple of years. Right now, folks who want to embrace the new hybrid technology and do their part for the environment have plenty of vehicles to choose from: Toyota Prius sedan, Honda Civic hybrid, a two-seater Honda Insight, the hybrid versions of the Toyota Camry and Honda Accord sedans, Lexus RX 330, Ford Escape and Honda Pilot SUVs and GMC Sierra and Chevy Silverado pickup trucks. Hybrid vehicles are good for the earth because they suck up less gas and spit out less pollution. But before you dash out and buy one, be sure to consider the cost. Being an environmental trailblazer isn't cheap. The hybrid cars available today cost anywhere from $3,500 to $6,000 more than comparable conventional cars. Despite ultra-impressive gas mileage, you'll have a tough time making up the price difference at the pump. And that doesn't include any additional maintenance costs and the possibility that you may have trouble reselling the vehicle. On the other hand, you do get a substantial tax break by purchasing a hybrid car. Fuel-cost comparison
Let's start by comparing the gasoline costs of driving a $19,900 Civic Hybrid with a $15,610 Civic LX. The Civic Hybrid with an automatic transmission gets an impressive gas mileage of 48 miles per gallon in the city and 47 mpg on the highway. The Civic LX gets 36 mpg in the city and 44 mpg on the highway.
We'll use city mileage figures for both cars because that's the mileage estimate most drivers are likely to achieve. Let's say gas is $2.20 per gallon and you drive 15,000 miles every year. Will you be able to rack up $4,290 in fuel-cost savings with your Civic Hybrid? Not unless you plan on keeping the car forever. Driving a Civic Hybrid instead of a Civic LX will trim your fuel costs by about $228 a year. After five years you'd save $1,140 at the pump. After 10 years, you'd save $2,280. After 19 years you'd save $4,332, finally just over your $4,290 goal. Let's take a closer look at the numbers. To drive 15,000 miles with a Civic Hybrid, you'll need to pump in about 313 gallons of gas. Pay $2.20 a gallon and your yearly fuel costs will run about $689. To drive 15,000 miles with a Civic LX, you'll need to pump in more than 417 gallons of gas. At $2.20 a gallon, your yearly fuel costs will run about $917, just $228 more than the Civic Hybrid. Of course, the more gas prices go up, the more money you'll save driving a Civic Hybrid instead of a conventional Civic. So let's say gas prices actually shoot up to $3 a gallon. Yearly fuel expenses with a Civic LX will run about $1,251 compared with $939 for a Civic Hybrid. That's a savings of $312 a year. After five years of high fuel prices you'd save $1,560. But you're still a long way from recouping the extra $4,290 you paid for your environmentally friendly set of wheels. Helping the earth can be hard on your wallet. replacecontent-tcm:8-22090 |