Re: new Prius prices

On Feb 21, 6:19 pm, "mack" <macke...@dslextreme.com> wrote:[color=blue]
> "Bill Tuthill" <ccree...@yahoo.com> wrote in message[color=green]
> > I think the price has been this low for at least a year. This is why
> > it puzzles me when people question why I'd "pay extra" for a hybrid.[/color]
>
> Umm, have you priced a Corolla or Matrix lately?
>[/color]

Have you done pricing lately?

I've done this based on an older post:
[url]http://autos.groups.yahoo.com/group/2007_Prius/message/8468[/url]
and using US figures

2007 Prius: [url]http://www.toyota.com/prius/specs.html[/url]
2007 Camry and Camry Hybrid: [url]http://www.toyota.com/camry/specs.html[/url]
2007 Corolla: [url]http://www.toyota.com/corolla/specs.html[/url]

I'm not quite sure why you are comparing the Prius with the Corolla...
The Prius is a mid-size, and the Corolla is a compact. A better
comparison is to the Camry. And the EPA tests are standardized, so
you should use the same tests for comparason (city to city or highway
to highway or combined to combined).

Car Sum (interior+cargo volume) Diff to Prius
---------------------------------------------
Prius 110.6 (96.2+14.4) +0.0
Camry 116.4 (101.4+15.0) +5.8
CamryH 112.0 (101.4+10.6) +1.4
Corolla 103.9 (90.3+13.6) -6.7
all listings in cu. ft.

EPA MPG
Car City Highway
-----------------------
Prius 60 51
Camry 24 33
CamryH 40 38
Corolla 30 38

150,000 EPA miles, @ $3/gallon:
Prius @ 60MPG (city): 2500 gallons, $7500
Camry @ 24MPG (city): 6250 gallons, $18750, diff +$11250 to Prius
CamryH @ 40MPG (city): 3750 gallons, $11250, diff +$3750 to Prius
Corolla @ 30MPG (city): 5000 gallons, $15000, diff +$7500 to Prius
Prius @ 51MPG (highway): 2941 gallons, $8824
Camry @ 33MPG (highway): 4545 gallons, $13625, $4811 diff to Prius
CamryH @ 38MPG (highway): 3947 gallons, $11842, $3018 diff to Prius
Corolla @ 38MPG (highway): 3947 gallons, $11842, $3018 diff to Prius

But since you are comparing to a Corolla, we should use an accurate
comparison of the Prius and the Corolla, which means comparible
options. Since the Prius is an automatic (eCVT) v4 engine (MSRP
$22795 including the $620 Delivery, Processing, and Handling fee),
I'll use automatic Corolla LE (v4 engine) (MSRP $16935 with same $620
DPH fee).

Then start adding in options. It looks like a number are standard
between the Corolla LE and the Prius: Power Windows, Power Door Locks,
Engine Immobilizer, Power Side Mirrors (Prius' is heated too), AC,
Remote Keyless Entry, 6 Speaker AM/FM/CD, Tilt Steering Wheel, and
Dual front airbags.

The Prius also includes ABS with tire pressure monitors, Traction
Control, Cruise Control, side and curtain air bags, a Rear Spoiler
(it's small, but it's there,) and Alloy wheels, which the Corolla LE
doesn't have standard, but available as options. ABS/tire pressure
monitor/traction control is package AB (MSRP $390), Cruise contol is
only available in the audio value package VV (MSRP $200) (this will
replace the Corolla's AM/FM/CD with a AM/FM/6 disc CD (same speakers)
so we add $589 for a 6-disc CD changer accessory to the Prius (which
then has a 7- disc CD capacity fyi)). Rear Spoiler accessory RF for
the Corolla is $425, and Alloy Wheels are package AW (accessory price
$499, package MSRP $390). The side airbags is package BE (MSRP
$655). To summarize, 390+200+425+390+655 = $2060 to add to the
Corolla to make it comparable to the Prius, while adding $589 to make
it comparable to the Corolla.

So that's 16935+2060 = $18995 for the Corolla LE w/ the appropriate
options and accessories. The Prius with the 6-disc changer is
22795+589 = $23384. The difference in MSRP is $4389 more for the
Prius than the Corolla.

Now, there's also tax incentives for the Prius. The US Federal Income
tax Hybrid Credit comes into effect, which for the 2007 Prius
purchased now through March 31, 2007 is $1575.
[url]http://www.toyota.com/prius/tax.html[/url]
[url]http://www.irs.gov/newsroom/article/0,,id=157557,00.html[/url]

There's also state incentives, depending on where you live (CO gives a
$3,013 credit for a 2007 Prius (see [url]http://www.revenue.state.co.us/fyi/html/income09.html[/url]
), for instance), but I'll ignore those state incentives for now since
it's location dependent.

So with the current $1575 Fed income tax credit as stated above, the
price difference drops from $4389 to $2814.

So, if you always drove your car according to the EPA highway test
cycle, and gasoline was a stagnant $3/gallon over the time it takes
you to drive 150,000 miles, and you purchased a vehicle today, and
ignoring sales or excise taxes (based on the vehicle price): To
purchase the Prius you'd spend $2814 more than on the comparable
Corolla LE, but after 150,000 highway miles you'd spend $3018 more on
the Corolla LE than on the Prius.

So, just comparing similar vehicles MSRP with their expected fuel use,
you'd pay $204 more for the comparable 2007 Corolla LE than for the
2007 Prius.

YMMV with state incentives of course. Also, for really calculating
ROI on a vehicle (not just purchase price and gasoline cost), you'd
need to calculate the different cost for maintenance, insurance, and
the big one: depreciation, which definitely makes the Prius even more
attractive.

See also:
[url]http://www.intellichoice.com/press/Hybrid-Survey-2006[/url]
[url]http://www.intellichoice.com/carBuying101/HypeOverHybrids[/url]