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Study - USA - Finds hybrid cars will pay for themselves
DETROIT,MI,USA -Reuters -August 23, 2006: -- Some hybrid cars will pay for the premium added to their sticker prices because of high gas prices and tax credits from the U.S. government on the more fuel efficient vehicles... Hybrid cars and trucks, which get improved mileage in city driving by running on a combination of gas and electric power, cost between $1,200 and $7,000 more than traditional versions of the same vehicles, according to auto Web site www.Edmunds.com... But a fuel economy study by Edmunds.com showed that the scales were starting to tip in favor of hybrids... The consumer-focused Web site said that assuming vehicles were driven 15,000 miles per year and gas was priced at $3 per gallon, owners of the Toyota Prius and Ford Motor Co.'s Escape Hybrid would break even within three years... But federal tax credits for hybrid buyers are being phased out on the most popular models... Tax incentives will also be cut on other hybrids after auto makers sell 60,000 of the vehicles -- a sales threshold Toyota has reached... The tax credit on Toyota and Lexus hybrids is scheduled to drop to 25 percent in April 2007 and then be eliminated in October 2007... In another study released on Tuesday, auto industry tracking firm CSM Worldwide cited higher gas prices as one factor driving a shift toward more efficient six-speed transmissions...
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