Friday, November 24, 2017

The Neutral Blog & Car Reviews

A collection of stories, reviews and rants

I don't think the new hybrid Camry is worth it.

I must admit when I first heard that Toyota was going to make a new hybrid here in Australia I had mixed emotions. I thought wow! about time Australia started to see some family sized cars with better fuel and environmental efficiency. Then I thought the federal government is giving Toyota $35mil of tax payer money.

For the $35mil and the $15mil the Victorian Government threw in I would have thought that when it hit the market it had a chance of being a the first hybrid competitively priced against its existing petrol equivalent. Some analysts predicted the hybrid would be about $4,000 dearer based on Japan and US price points.

Well guess what it came out at $10,000 more than an equivalent 2010 petrol Camry. If you put that into perspective you have to make $10,000 worth of fuel savings before you break even when compaired to its petrol cousin, not to mention the additional interest on the extra $10,000 you borrowed.

Lets give the Toyota hybrid Camry a chance to show its worth. OK lets assume that it saves you 1000 litres of fuel per year at the current price of $1.33, thats a saving of around $1330 per annum. So it will only take 7.5 years to make your money back, then you can enjoy the savings. I can see everyone heading down to their local Toyota dealer tomorrow, I know I want one.

In case you can't tell that last line was sarcasm. Lets face it, if the federal government wanted to create demand for hybrid cars they would have given us incentive to buy them.

For example if they gave you $5,000 to make the decision just a little more favourable towards buying the hybrid you would be tempted to buy one and you would hit your break even point much sooner. If that total $50mil was used for a rebate then potentially thats 10,000 hybrids on the road. It would also encourage other manufacturers to get hybrids to the market.

Anyway thats my rant, I reckon the hybrid Camry is worth it. There are much more fuel efficient cars on the market for a lot less.

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