Will hybrid and electric vehicles be the answer to high oil prices? – Part 3

The most economic cars that have shortest payback period are Honda Insight and Ford Fusion Hybrid. The Insight registers one of the steepest declines compared with a comparably equipped gas-powered Honda Fit by dropping the payback period to just three years at $5 per gallon, down from six years at $3 per gallon. Likewise, of vehicles offered with as gas-only and hybrid, the Ford Fusion Hybrid has one of the quickest payback periods at $5 per gallon at three years, down from six years at $3 per gallon versus a comparably-equipped, gas-powered Fusion.

As for the world’s best selling hybrid, Toyota Prius, the payback time is still longer than its counterparts like Honda and Ford. Though it is shorter than the likes of BMW, Mercedes and Audi, it still is longer than Insight and Fusion Hybrid. The only way this period can become competitive to Honda and Ford is if the oil price surges to $5 a barrel. Still it is the best seller even if it is not a looker. The payback period for Prius versus a comparably-equipped gas-powered Toyota Corolla drops from nine years at $3 a gallon to six years at $5 a gallon.

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Posted by Usman Khalid on Mar 6 2012. Filed under Automobiles. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.