Hybrid/electric owners ... has the low(er) price of oil caused you 2nd thoughts about

[dud]

With the price of oil/gas continuing to decline the additional/premium price of a hybrid over a car with a traditional internal combustion engine makes less sense, especially as prices continue lower. Yes, the price of fuel cannot and will not stay low forever, but it looks like the price of gas will remain relatively low for the next calendar year. This will make the more expensive hybrids less attractive. Additionally, those that drive fewer miles will take much longer to recoupe the premium price paid for said hybrid vehicle.


I'd like to throw a few questions out there to get some discussions going:

1) If you already own a hybrid do you (at all) regret doing so with today's lower fuel prices?

2) If you are considering the purchase of a hybrid vehicle is the currently low price of fuel giving you second thoughts? Are you reconsidering a more traditional vehicle?

3) If fuel prices continue to remain lower for the forseeable future do you think that the price of hybrid (and even electric) vehicles will be reduced to to lack of demand for such vehicles?



I am curious as to how hybrid buyers/owners might feel because I have never owned one. I drive too few miles per year to justify the premium cost of such vehicles (at the moment).


Thanks for all of your replies!

 

[Ferzerp]

Now is the time to buy a hybrid/electric! Stupid knee jerk reactions to fluctuating prices will drive demand down and you can buy cheaper for the next time fuel prices rise.


Well, ok, not really, unless you're one of the few people who will ever make back the extra cost for replacing a vehicle with a new one.


However, if you were already in the market for a hybrid or electric, the next few months will likely be the perfect time to purchase because there are far too many silly people who will have their purchasing choice influenced by transient fuel prices and so discounts should go up for a while as demand temporarily wanes.

 

[dud]

Now is the time to buy a hybrid/electric! Stupid knee jerk reactions to fluctuating prices will drive demand down and you can buy cheaper for the next time fuel prices rise.


Well, ok, not really, unless you're one of the few people who will ever make back the extra cost for replacing a vehicle with a new one.


However, if you were already in the market for a hybrid or electric, the next few months will likely be the perfect time to purchase because there are far too many silly people who will have their purchasing choice influenced by transient fuel prices and so discounts should go up for a while as demand temporarily wanes.

Do/don't you agree that hybrids tend to make more sense for those who drive more? I average about 6 to 8,000 per year. The savings from a (regularly priced) hybrid made no sense at the time I purchased my truck. Now, unless automakers incentivise their vehicles, it seems to make even less sense. Thoughts?

 

[vi edit]

Nah. It's a long game with a hyrbid. I've seen this trend before...

http://static2.businessinsider.com/image/54738b316bb3f7a62cf5db55-1024-680/fredgraph (12)-2.png

 

[michal1980]

I have a cmax energi. Is it worth the preimum? $wise probably now. I only wish it had ~40miles of battery range. Otherwise, running on electricity is awesome.

 

[vi edit]

Define "makes no sense".

I drive in almost entirely stop and go traffic. My hybrid does 45MPG in that environment. A truck would do about 15MPG. At 6000 miles a year my hybrid is saving me around $700 a year at current prices. Plus I have lower emissions and my typical wear and tear items are less (brakes being the main one). If you are doing all highway the numbers get different, but that's not the case for me.

 

[OILFIELDTRASH]

Saving money is never a bad thing. I spent $20 to fill up my fiesta st. Sure beats the $50 it takes to fill up my truck. I imagine driving a hybrid is the same way. Sure the savings aren't what they once were but spending a minimal amount on fuel costs is never a bad thing.

 

[dud]

Define "makes no sense".

I drive in almost entirely stop and go traffic. My hybrid does 45MPG in that environment. A truck would do about 15MPG. At 6000 miles a year my hybrid is saving me around $700 a year at current prices. Plus I have lower emissions and my typical wear and tear items are less (brakes being the main one). If you are doing all highway the numbers get different, but that's not the case for me.

"Makes no sense" in my context may be different from yours. My truck gets much better mileage and I am not driving in constant stop/go traffic. Each one of us should conduct their own price/benefit analyses prior to purchase. My analysis indicated that (at my driving rate) my truck would go EOL before I recouped the premium cost of the hybrid.

To each his own ... I was just curious.

 

[jlee]

Nah. It's a long game with a hyrbid. I've seen this trend before...

http://static2.businessinsider.com/image/54738b316bb3f7a62cf5db55-1024-680/fredgraph (12)-2.png

I don't remember gas going from $4+ to $1.60/gallon in a 6 month timeframe. Is my memory really that bad?

 

[vi edit]

I don't remember gas going from $4+ to $1.60/gallon in a 6 month timeframe. Is my memory really that bad?

2008. Summer crude was almost $150 a barrel for crude. Gas prices were over $4 a gallon. By November the bottom fell out and crude was $40 a barrel and retail prices were close to $1.40 a gallon.

http://www.treehugger.com/cars/2008-us-gas-price-year-in-review.html

 

[cabri]

I don't remember gas going from $4+ to $1.60/gallon in a 6 month timeframe. Is my memory really that bad?

Last time I saw fuel below $2 was back in early '07 in Iowa. It had come down from about $2.75 over a 6 month span

 

[Ferzerp]

To clarify. What makes no sense is when people have perfectly workable newer vehicles that are average/decent mileage and then replace them for a hybrid to save money. In this case, people use "saving money on fuel" as an excuse to buy a new vehicle. You don't save money this way. If you want a new car, just admit you want a new car. If you're really doing it because you need to save money, then you're making a big mistake because you will never make back the cost of the swap.

What makes sense is for people who are in the market to replace their vehicle any way to choose a hybrid.

 

[unokitty]

Not an owner. But I thought some data concerning current hybrid sales might be relevant.

Uno

 

[dud]

Not an owner. But I thought some data concerning current hybrid sales might be relevant.

Uno

Thanks so much. If I could give you rep I would. Some very interesting data there. Only three models are up while all others are down. I wonder what type/size incentives are driving those increases?

 

[Ferzerp]

Ah yes, fun with statistics.....

Exclude plug-in hybrids and pure electric from your data because they are a different class, decry that the hybrid is dying! (when in fact it is being replaced by the plug in hybrid and electric to a smaller degree).

edit: Also, those numbers are from what, February? March?

 

[vi edit]

True...Fusion Plugin, C-Max Plugin, Prius Plugin, and Leaf sales are all up almost 50% over 2013.

 

[dud]

Ah yes, fun with statistics.....

Exclude plug-in hybrids and pure electric from your data because they are a different class, decry that the hybrid is dying! (when in fact it is being replaced by the plug in hybrid and electric to a smaller degree).

edit: Also, those numbers are from what, February? March?

No one is "decrying" anything. We are just discussing how lower fuel prices MIGHT be affecting hybrid/electric sales. He just provided SOME data.

 

[Ferzerp]

No one is "decrying" anything. We are just discussing how lower fuel prices MIGHT be affecting hybrid/electric sales. He just provided SOME data.

The data he provided is from very, very early this year and deliberately excludes the plug-ins. I can't fathom what value it has to this conversation due to that.

 

[jlee]

2008. Summer crude was almost $150 a barrel for crude. Gas prices were over $4 a gallon. By November the bottom fell out and crude was $40 a barrel and retail prices were close to $1.40 a gallon.

http://www.treehugger.com/cars/2008-us-gas-price-year-in-review.html

Yeah that's when I bought my Tundra (May 2008). $4+/gal, but I don't remember $1.40 later that year. Maybe I forgot.

 

[dud]

The data he provided is from very, very early this year and deliberately excludes the plug-ins. I can't fathom what value it has to this conversation due to that.

True, but we could also consider the fact that oil prices were considerably higher at that time and the now lower prices might have had an impact on sales after that point?

We simply do not have the data posted yet.

 

[JulesMaximus]

I'd like to throw a few questions out there to get some discussions going:

1) If you already own a hybrid do you (at all) regret doing so with today's lower fuel prices?

Nope, not at all. My fuel costs decrease along with yours so I'm still enjoying twice the fuel savings over a less efficient car.

2) If you are considering the purchase of a hybrid vehicle is the currently low price of fuel giving you second thoughts? Are you reconsidering a more traditional vehicle?

I already own a hybrid and I'm not planning on replacing it anytime soon.

3) If fuel prices continue to remain lower for the forseeable future do you think that the price of hybrid (and even electric) vehicles will be reduced to to lack of demand for such vehicles?

I think there will still be demand for these vehicles. Gas prices fluctuate and this won't last. Gas prices will creep back up again.

I am curious as to how hybrid buyers/owners might feel because I have never owned one. I drive too few miles per year to justify the premium cost of such vehicles (at the moment).

I commute 18,000 miles a year right now and I'm very happy with my hybrid. It is comfortable, efficient, reliable and loaded with technology. The Camry Hybrid is actually a better performing car than the 4 cylinder ICE Camry and I got a pretty good deal on my Hybrid XLE. Justifying the premium was never an issue. The premium was only a couple grand so I either give it to Toyota or the oil companies. I'd much rather support a company that is trying to reduce our dependence on oil.

If I were in the market for a new car I'd buy another hybrid.

 

[Tuanies]

I have no regrets buying our Leaf. My wife drove mostly in the city so the money saved from stop and go traffic is still worth it. Plus we wanted to lessen reliance on oil and WA is a great state where most of the electricity is from hydro, wind and solar.

 

[Ferzerp]

If I were in the market for a new car I'd buy another hybrid

When I replace my bad weather car in 2018, I will possibly be going hybrid. I won't be able to go full battery due to range issues (my bad weather car is also occasionally a long trip car since my other cars have recently been two seaters), but hybrids will definitely be looked at. It really depends on what the cost difference is in 3 or 4 years time.

 

[Dman8777]

My parents had a 2nd gen prius (2004) that they sold with ~100k miles to by a third gen in 2010. They sold it to some friends for 4 or 5k and the car now has well over 150k miles on itand hasn't needed anything major repaired or replaced.

So, if you want a hybrid to save money, the same argument for all cars applies: buy used.

 

[Mide]

We have a Prius and no, don't regret getting it. Even with lower gas prices it still gets 48mpg consistently and a person can be happy with rarely having to fill up and for it to be so cheap per fill-up to boot. We really didn't "give up" anything when we went with the Prius. It's not like we were in the market for a 14k sportier car (doesn't exist) and then paying 20k for a slightly used hybrid, so most calculations are based on people paying a premium for the hybrid. (If you paid 28k+ for a hybrid then yeah calculations would need to be made)

If the gas prices stay low then that's cool but if they go up then we're covered. Again it's not like everyone wants to drive a 15MPG truck and then they give up that option to drive a hybrid. Some people just like econoboxes...and if you put the Prius in power mode it's much faster than let's say another econo like a Honda Fit.