Advanced Engineering Economics
Hybrid electric cars -- Purchasing, Hybrid electric cars -- Economic aspects, Prius automobile, Insight automobile, Fusion automobile, Hybrid electric cars -- Evaluation
Over the past 5 years the price of fuel has more than doubled i and at the pick time it almost tripled in addition the projection for future Oil prices is that the price will keep going up in a steady pace of approximately 4% per yearii. Over the past 10 due to the oil price increase the US demand for hybrid cars has skyrocketediii. Hybrid cars are marketed as the best solution to save money on gas and in the same time to help the environment. But is this really the best solution for everyone? Hybrid cars are more expensive and have additional expenses over time. I will look at 3 of the most popular Hybrid cars today Toyota Prius, Honda Insight & Ford Fusion compare between them and Gas only cars Toyota Corolla, Ford Focus & Honda accord and come up with a recommendation that will include: What are the differences between the 3 hybrid models and what are the economics that will make buying them a economically correct decision. In addition I will create a excel file that will by entering the car technical information (Mpg, price, etc…) will help provide an economical decision regarding the worthwhile of the purchase.
Wolman, Ori, "Is Hybrid Car the Right Car for You" (2010). Engineering and Technology Management Student Projects. 707.