Originally published June 30 2005
High price tag for hybrid vehicles does not save money in the long run
by Mike Adams, the Health Ranger, NaturalNews Editor
The auto researcher Edmunds.com did a recent study comparing hybrids to non-hybrid vehicles, concluding that the cost savings on gas may not offset the higher price tag on hybrids.
There's no question the new hybrid cars like the Toyota Prius save money by cutting emissions and burning less gas.
But the I-Team wanted to know if the savings add up, especially when the taxpayer's money is involved.
The auto researcher Edmunds.com did a recent study comparing hybrids to non-hybrid vehicles.
Their conclusion, the cost savings on gas may not offset the higher price tag on hybrids.
For example, the study compared the Toyota Prius to the Toyota Corolla and found you'd have to drive the Prius 66,500 miles a year just to break even.
A hybrid can cost as much as $5,200 more than its non-hybrid counterpart.
The Jacksonville Transportation Authority owns nine hybrids, all of them, the Prius.
According to the JTA's Director of Transportation Tom Jury, the average mileage on the agency's hybrids is far less than 66,500 annually - it's more like 12,000 to 15,000 miles per year.
On the face of it, that looks like bad news for the taxpayers who funded the new cars.
But Jury points out, the JTA paid slightly less than sticker price for its hybrids, shelling out $18,370 for each one.
And he says there are other factors to consider, telling First Coast News, "It's not just the economy or the fuel mileage on the vehicle it's also the reduced emissions as well."
In fact, Jury says the JTA is so happy with its hybrids it's considering replacing its gas-guzzling buses with ones using hybrid technology.
Also, President Bush is considering a substantial increase in the hybrid tax credit in his proposed 2006 budget.
That could offset the higher cost, at least for private consumers.
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