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Depreciation is one of the biggest costs for new-car buyers, Toyota has commissioned Cartell.ie to review how the second hand values of hybrid and electric vehicles compared.
The study found that, on 3-5-year old cars, hybrids are worth around 13.5 per cent more than pure electric vehicles. After three years a hybrid car is typically worth 65.6 per cent of its original value, which drop to 56.9 per cent after four years and 46.3 per cent after five. Comparable figures for electric cars are 52.1, 42.6 and 32.5 per cent.
Toyota has a large hybrid range and this year has experienced a 100 per cent increase in hybrid sales compared with 2016. Across the Irish market hybrid vehicles account for 3.4 per cent of cars sold, up from 1.5 per cent last year. Toyota expects the petrol-electric share of the market will double again in 2018.
Michael Gaynor, Toyota Ireland Marketing Director commented: "These results further highlight the benefits of Hybrid in comparison to electric vehicles. In addition to not having range anxiety, a hybrid customer also has the comfort in knowing their residual value will not be compromised when making the decision to drive a cleaner more efficient car. Hybrid sales continue to dominate with hybrid expected to surpass 30% of Toyota's total passenger car sales in 172."