Toyota measuring "time on the lot" for Prius in HOURS - But is it all just Hype?

[acbsparty]

http://money.cnn.com/2005/09/23/Auto...ives/index.htm

Hybrids: Don't buy the hype

Sure, hybrids save gas but they won't save you money. There are smarter ways to go.
September 26, 2005
By Peter Valdes-Dapena, CNN/Money staff writer

NEW YORK (CNN/Money) - Toyota is now measuring "time on the lot" for the Toyota Prius in hours, not days. The average Prius goes unsold for only about 20 hours after it hits a Toyota dealer's lot, according to a recent report.

With gasoline prices now around $3 a gallon, you might think it makes a lot of sense that hybrid cars are hot sellers.

Actually, it doesn't -- at least not a lot of financial sense.

They may make a social statement you're interested in, but if you want to save money because of rising gas prices, you're heading down the wrong road, at least for now.

Some simple calculations by our partners at Edmunds.com revealed the following:

A hybrid Honda Accord costs about $3,800 more than the comparable non-hybrid version, including purchase, maintenance and insurance costs. Over five years, assuming 15,000 miles of driving per year, you'll make up that cost in gasoline money if the price of gas goes up immediately to $9.20 a gallon and averages that for the whole period.

For the Ford Escape hybrid, the difference is less stark. To make up the difference over five years between the Escape hybrid and a Ford Escape XLT, gas prices would have to average $5.60 after you purchase the vehicle.

The Prius itself, however, could be an exception. There is no such thing as a non-hybrid Prius, making a direct comparison impossible. Compared to a Toyota Camry, a car with similar interior space which costs about $100 more over five years, the Prius driver could actually save a small amount of money.

There is a tax deduction of $2,000 available for purchasing a hybrid vehicle, but that translates to a one-time tax savings of less than $500 for most buyers. That's nice, but it's not enough to make much of a difference in the long run.

[mjd1001]

If you are looking for the absolute cheapest car in it's size class, or the cheapest in ownership costs, the Prius is not it.

For some buyers though, it is what they are looking for. Prius buyers may be looking for something the throws less polutants into the air. They may just want something different. They may be buying it as a hedge against a beleif they may have that gas will reach $5 a gallon.

Personally, none of those reasons do it for me, but for people who want to buy them, if it makes them happy so be it.

[saturnsteve]

Wow, 20 hours that's impressive. My next door neighbors have one, and they swear by it. It does look a whole lot better than the older versions.

[dindak]

What a shock. Of course all that assumes you get the posted mileage. From what I have read, no one gets anywhere close to the posted mileage numbers.

The savings are all fantasy.

[Hemidakota]

Actually, the tC outsells the Prius and doing very well as one of the hot sellers this year.

This is the usual hype you will find from those who never seem to research the facts over fiction. Toyota and Honda are known for this. Remember the 2004 Honda minivan hype of never seen on the lot and the fastest seller last year? LOL More Internet hype than reality.

[GM_Fanatic]

Thats a really good statistic/reference by putting it in average terms of price per gallon. I'll have to remember that.

[TorchRedCorvette]

Preaching to the Choir!!!

Here is some MORE to think about...

Per the www.epa.gov site. TODAY!

2005 models (Pollutant and Greenhouse gases scoring {co2**)

With 10 being the best/0 being the worst result.

Honda Accord/Toyo Camry/Nissan ALtima...... 6 pollutants/7 greenhouse gases.
ALL models tested 4-cylinder.

Chevy Malibu (6-Cylinder)....YES 6 cylinder !!!! 6 pollutants/7 greenhouse gases.

The Accord (6-cyl) was a 6 pollutants/6 greenhouse gases.


The GS 430,BMW 545i,530i,AND Caddy STS V-8 were 2 pollutants/4 greenhouse gases.


So the ugly Lexus was as dirty as Uncle Vinnies Black STS???


I will take the Caddy!

[Ming]

These arguments that a "Hybrid costs more than a non-hybrid Civic" are true, but the same argument can be made for an inexpensive, not extremely fuel efficient (for its class) car like a Chevy Aveo. The "special value" Aveo can be had for under 10,000 dollars. Now how much more real utility/comfort/gas savings does a Prius offer over an Aveo hatch? Is it worth the extra 14,000 dollars, waiting lists, and over sticker pricing?

These are the thoughts that go through my head when calculating the total cost of ownership over a 7-10 year period on any vehicle. Edmunds will want me to believe that a 10 year old Prius will have a favorable resale value when compared to a 4-cylinder Malibu or Suzuki Forenza Wagon simply by virtue of being a Toyota, but I wonder --- how good will that resale be for those hybrids as their batteries run out?

The Prius, like a luxury trim SUV, is a statement. But isn't an Aveo hatch or Ford Focus Wagon the statement that says "Frugal and Utilitarian" more than a Prius or other pricey hybrid? I think so. Even the upcoming "mild-hybrid" BAS system (which is good enough to call "Green" but stretching it to use the "Hybrid" moniker) Malibu will probably be a more intelligent choice for people looking to save money and drive their car for 5 years or more.

[TorchRedCorvette]

Originally Posted by GM_Fanatic

Thats a really good statistic/reference by putting it in average terms of price per gallon. I'll have to remember that.

I have by writing about it for days...

Hey,maybe I am the CNN writer?

Nah,Ted Turner is too liberal for me.

[DuSpinnst]

As I've said before Hybrid's are good PR, bad buisness, and overrated to the core.

[TorchRedCorvette]

Another evidence of Toyota "GREEN"....

The New Corvette,with it's 6.0L motor,400 hp is rated at 3 pollutant/5 gases is HIGHER than the LEXUS SC 430 at 3/4....

There are the facts, per the EPA.

Kool-Aid...yum

[TorchRedCorvette]

Du Right.

[LI CADILLAC]

When I See A Prius, I'm Gunna Kick It!!!!!!!!!!!!!!

[lytmup]

Originally Posted by dindak

What a shock. Of course all that assumes you get the posted mileage. From what I have read, no one gets anywhere close to the posted mileage numbers.

The savings are all fantasy.

Well, the savings are not all fantasy. This article ,and so far everyone else on this thread, is forgetting that there is a nice fat tax write-off for buying a hybrid car. (I think Edmunds's is glossing over the tax benefits for a biased point.) That tax write-off can in some instances make the difference in price for a comprable model a wash.

There are also other "intangible" savings that no one else has mentioned. In the Northern VA area, hybrid cars can use HOV lanes (thats High Occupency Vehicle) during rush hour with less people than required for gas cars, thus saving LOTS of time. This is intangible, because its only felt in high traffic areas where HOV is prevalent.

I'm not saying that I am a green guy, but I do appreciate when both sides of the story are told. (Edmunds is starting to have a nasty bias on certain issues.)

[Arizona Slim]

Originally Posted by lytmup

Well, the savings are not all fantasy. This article ,and so far everyone else on this thread, is forgetting that there is a nice fat tax write-off for buying a hybrid car. That tax write-off can in some instances make the difference in price for a comprable model a wash.

That big fat write off is $2000, but its a deduction, not a rebate. It depends on your tax bracket, but that deduction will probably end up netting you a few hundred bucks in the end.