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Gary Gastelu, FOX Car Report, on a new report that found it can take years to see savings from electric cars.
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Does by an electric car ever make financial sense even if gas prices stay at their current levels.
It could take years in years to make up the premium that you pay to get behind the wheel of say -- -- With more here's -- gas -- that are out fox car repair.
And also I ask anything about cars that you can tell me.
But -- if you do it did math on some of these cars they never make financial sense -- -- gas these -- -- -- 1250 gallon to.
-- of Baltic financials that's very rarely the upfront cost immutable cost after the taxes 32 after the tax credits 32000 dollars you know equivalent -- -- cruise cost less than 20000 dollars to its Kennedy.
As far as this reports concern 26 years.
To make up the upfront cost me six years exactly -- -- true -- -- true cargo come up to keep in mind this is this is making up that money into fuel savings one thing this report doesn't take into account is.
Resell value that 30000 dollar -- could be worth a lot more in five years been met 20000 dollar cruise is going to be.
Perfect example the Toyota Prius it has the highest.
The lowest depreciation rate of any car right now try to find a two or three year old Prius.
On the market right now you're probably gonna pay as much as for -- -- right now is gas prices go up so that's not taken into account here but still you do have this huge upfront cost to get that efficiency.
Do people do that math when they going to -- priest -- had a record month of march and even the Chevy Volt sold.
Almost 2308.
Chevy sold almost 2300 -- last month.
To people do that math say.
Gas prices need to be acts and I -- -- -- this for so many years in order to make up the difference.
Absolutely effect is a new report from -- out today that shows that only 35% of hybrid buyers are buying another hybrid because the are being very diligent about -- -- now that said you know again there's a lot of people who are buying this not to save money.
They wanna see fuel on the one side or they -- -- save us from imported oil on the other side.
So this there's those people as well better just happy to pay the extra premium and I salute them for putting their money where their -- this but you know just like -- high performance car across more than a regular model.
Luxury model of a -- more than the base model as well and prepare for higher technology there's a lot of people that are willing to pay that upfront -- most efficiency possible.
I'd down talk to the CEO portion North America coming up and they have what we we were talking about it they have this the new diesel.
Key Dan.
They have hybrids in the key man.
And the -- Mara I believe.
And is so it's -- because these are exceptionally expensive automobile run into the six figures but they're still they still putting technologies in these cars that save fuel.
People -- -- maybe not money but just fuel.
Period also these cars particularly the Prius they actually work like halo car the -- -- -- Corvette does for Chevy the Prius does for Toyota and even at the person's not buying another.
Prius or another Camry -- they're probably gonna stick with -- when they do bind because you can get DC just greater old idea and got internal combustion engines makes such -- -- -- -- Chevy cruise -- -- 42 miles a gallon highway a lot of cars hit that forty mile per gallon -- and have to there's -- new regulations come into effect there's a lot of room to improve the efficiency of the internal combustion engine.
We're going to be seeing that hybrids are gonna play a role and a lot of the technology you find in hybrids.
The weight savings the aerodynamics the low rolling resistance tires this trickles down to the conventional vehicles as well that's gonna help -- -- -- That's Ayala avenue here we talk about cars all night we have to go to areas -- -- thank you for taking the time -- death.
