The New York Times looked at the pay back period for buying a new fuel efficient car and reached some startling conclusions.  The chart below compares a number of electric and hybrid vehicles and finds quite a range for the “break even” period. Even given high gas prices, it may take a decade or more to earn back the extra purchase price for an EV or hybrid over a gasoline or diesel vehicle.  The pay back period for the Chevy Volt is over 26 years. This compares with about 9 for the Nissan Leaf and 2 for the Toyota Prius.  Note that the average price of the car includes government rebates. If you excluded the rebates, the pay back period would be longer.

You can read the Times article here.

1 Comment on The Cost of Higher Fuel Economy

  1. […] on the purchase price of an EV which can take a decade or more as the New York Times pointed out here.  (Note: The Columbus Dispatch article refers to a study by the Union of Concerned Scientists.  […]