Erratic gas prices, multiple tax credits, the up-front cost of a hybrid car, determining distances between electric charge stations…. hybrid and electric vehicles may be good for the Earth’s well being, but with so many variables to consider, it’s difficult for most consumers to determine whether a hybrid or conventional vehicle would best suit their needs, as well as their budget.
Edmunds.com, well-known online provider of automotive information, has completed a study that compares and contrasts payback periods between hybrid and diesel vehicles compared to their gas-fueled opposites. Arranged in an orderly and accessible chart, Edmunds.com takes into account years, makes, models, federal tax credit, True Market Value, annual gas savings, and other statistics, giving readers a clear-cut view that should enable them to make more informed decisions.
According to Edmunds.com, “this study assumed the vehicles were sold at the Edmunds.com True Market Value price, were driven 15,000 miles per year and achieved the Environmental Protection Agency’s recorded mileage for combined city and highway driving.” The average gasoline price was set at $2.81 per gallon for unleaded and $2.95 per gallon of diesel fuel. Edmunds’ AutoObserver.com Senior Editor Bill Visnic noted that diesels were found to be more affordable than hybrids according to the study, “taking into account the vehicles’ prices, tax credits and fuel usage.” This might explain why, in part, a diesel Audi was recently named Green Car of the Year.
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