March 8, 2006

Consumer Reports corrects hybrid financial analysis; Prius and Civic hybrid recover price premium

Yonkers, NY - Consumer Reports is revising the cost analysis in a story that examines the ownership costs and financial benefits associated with hybrid cars. The story, titled "The dollars and sense of hybrids," appears in the Annual April Auto issue of CR on newsstands now.

CR's revised analysis shows that two of the six hybrids recovered their price premium in the first five years and 75,000 miles of ownership. The Toyota Prius and Honda Civic Hybrid provide a savings of about $400 and $300, respectively, when compared with their all-gas counterparts—as long as US federal tax credits apply. But extra ownership costs during the first five years and 75,000 miles for the other four hybrids ranged from an estimated $1,900 to $5,500, compared to similar all-gas models.

A calculation error involving the depreciation for the six hybrid vehicles that, in the story, were compared to their conventionally powered counterparts led the publication to overstate how much extra money the hybrids will cost owners during the first five years.

Previously, Consumer Reports had reported that its analysis showed that none of the six hybrids it had tested recovered its price premium in the first five years and 75,000 miles of ownership.

The revised story, including a new and more detailed comparison chart, will be posted at www.ConsumerReports.org/autos2006.

More News....