Which is cheaper to own, a hybrid or a thrifty economy car? The debate now stretches back to the debut of the Honda Insight in U.S. showrooms in 1999, and it isn't likely to end soon. But a new analysis by Automotive magazine suggests that the answer isn't simple.
Automotive used "depreciation, financing, insurance, state fees, maintenance and repairs, and of course, fuel" to determine "a total cost of ownership over a five-year period with 14,000 miles of driving each year" for five small, cheap fuel sippers and the vaunted Toyota Prius. Their conclusion? The Prius beats out almost any econobox you can buy. Its cousin, the Toyota Yaris, is actually cheaper to own over the long haul. The Yaris "is able to win the cost-of-ownership contest by carrying below-average costs in nearly every category from depreciation to financing to fuel." Small-car competition like the Chevy Aveo5 and Hyundai Accent lose out to the Prius, however, because of their rapid depreciation.
Jalopnik says the results prove that "Prius owners' smugness isn't entirely unjustified."
Autoblog points out, however, that "The Yaris may have won the cost of ownership battle; the Prius is still winning the war. Prius sales are killing Yaris sales, and while the Prius is no beauty queen, the Yaris is just as homely while also having far less interior room."
Some hybrids just aren't worth the price. Our own analysis shows that hybrids like the Chevy Malibu and Saturn Aura are priced so high that the fuel savings won't pay off the added cost of the hybrid powertrain for decades.
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