Monday, July 31, 2006
Hybrids may save the environment, but not your pocketbook
The Omninerd has a thorough analysis of the economics of hybrid cars and concludes that for overall savings, it's still far more economical to drive a conventional high efficiency vehicle like a Toyota Corolla than a "gas sipping" hybrid Prius. Those who also employ an environmental consideration in their purchasing decision may be willing to pay a premium for lower overall gas consumption, but saving the Earth is not equal to saving money in this case.
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Sadly, I made the same comparison when I was purchasing my Corolla and found that over the life of a car (10 years) gas would have to average over 3.85 to make a difference. That isn't including all of the possible additional costs involved with all the batteries in the hybrid.
However, smart cities like San Francisco add all kinds of incentives to having a hybrid like, HOV access and, more importantly, FREE TOLLS on the Bay and Golden Gate! If you add that in ($2 each way on the Bay and $5 on the Golden Gate) it is easy to justify a hybrid.
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