The Toyota Prius, the country's top-selling hybrid car, sells for an average $22,939, compared with $19,231 charged for its gas-powered cousin, the Camry. But the Prius also drinks less gasoline – which now tops the $4-a-gallon mark. Herein lies the consumer conundrum. Which is the better deal: The more expensive car that is cheaper to operate, or the less-expensive car that drinks more gasoline? It's the Toyota Prius – but only if the buyer keeps the car for longer than three years... Charlotte Business | Charlotte Observer
The hybrid gap for the Prius has been closed all along. A CR study shows the Prius as the least expensive family car - if that's a gap, it's a gap in the right direction. Tom
The car that pollutes less, has better interior room, is a technological wonder, makes people want to save gas, is much more fun to drive, and will be seen (if not already) as the car that solidly put hybrids in the conscious awareness of the world market. Your guess which car that is? ZC1
The Prius is more cost effective because it is a "least cost, end use" (long-term) purchase. The nonhybrid Camry is less cost effective because it is a "least cost, first use" (short-term) purchase. As discussed elsewhere a Prius is most cost effective in year three of ownership.
i'd like to know where to get a prius for $22,900 right now I've seen used ones over $30k in the last few weeks. the current pricing would probably generate a different conclusion, or at least a much longer payback period. i also note that they did not include repair costs in the analysis. don't get me wrong - i love my prius - but the current $3-5K above sticker the dealers are getting change the results of studies of this nature.
Wait a while. The market will be flooded with electric cars in a year or two. They will come down in price as sales volume increases--like any new product.
The author in the article says: "The Nissan Altima hybrid paints a tempting picture, offering a payback in nearly four years. Buy an Altima hybrid and you get a $2,350 tax credit, which lowers the typical price premium on the hybrid compared to the standard Altima to $1,879, according to Edmunds." Can anyone tell me what "tax credit" he's referring to ($2350)? Is someone giving tax credits for hybrids right now? I thought the federal tax credit expired in 2007.
I am not sure about tax credits myself. Can someone clarify this issue for the forum? I just read that Mitsubishi has a new hybrid wagon that qualifies for a tax credit as well....any info out there???
The tax credit is make-and-model specific. Toyota has sold enough Priuses that the credit is no longer there for those. Honda Civics get $1050 through 6/31/08, when it drops to $525. IRS Page defining tax credits for 2008 models
tax credits web page they phase out when you sell a certain number of units ; there are no more credits for a prius
EACH manufacturer has/had a 60,000 unit limit on it's ultra-fuel efficient vehicles ( hybrids or diesels ). Toyota reached their limit in May 2006 so the tax credits expired in Sept 07 for Toyota. Honda reached it's 60,000 unit limit last year so it's credits will expire in December of this year. Ditto Ford which should reach its limit this qtr so it will have til mid next year until the credits exprire. GM is somewhat behind Ford. Nissan has been really late to the party and it's selling only in 6 states so it essentially has all 60000 units available to it.
Thanks everyone for reminding me of the big picture. I'm very focused on the Prius and I forgot the overall rules of the tax credit game. I wish they would re-institute the tax credits - for the Prius - to continue to reward hybrid purchasers for their efforts to clean up the environment.
