TrueCar Announces Best Deals on High-MPG Hybrid, Diesel and Gas Cars

SANTA MONICA, Calif., April 21 /PRNewswire/ -- TrueCar.com, the leading resource for new car pricing on the Internet, has determined the best deals among all high-fuel-efficiency cars, regardless of whether they run on regular gas, hybrid or diesel power.  The recent study looked at all vehicles that achieved an EPA-rated 30 combined MPG* or better and determined an average cost per mile for six-year ownership of the car.

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"Ever since the first hybrids were introduced, there has been an ongoing debate about which is the better choice for consumers who want to protect the environment as well as their wallet," said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com.  "Hybrids have earned the reputation for great MPG but there are a lot of cost-effective non-hybrids that are in some cases as good or better on gas and offer a lower price to the consumer."

The study examined 34 vehicles that fit the criteria and determined an average cost per mile based on the TrueCar TrueAverage Price (a price derived from actual transactions) of the car, plus the yearly cost of gas over six years purchased at the average gas price**, minus any applicable current customer cash incentives and Federal Tax credits.  

"The study was drawn out to six years and 15,000 miles per year, as we felt those numbers best reflected the current and near term market reality," explained Toprak.  "More people will be keeping their cars longer as we continue our economic recovery."

Based on this criteria, the all-new 2010 Hyundai Accent Blue was identified as the best choice for fuel efficiency and money savings, with a per mile cost to the consumer of 20 cents.  Additionally, the Kia Rio, Chevrolet Aveo, smart fortwo coupe, and Toyota Yaris all fell under the 25 cents per mile threshold.  In all, the 34 models (all of which can be found with their per-mile cost at the TrueCar Truth Blog) averaged a healthy 32 cents per mile with the Lexus HS 250h topping the list at 45 cents per mile.

With three models each, Toyota, Volkswagen and Mini are the best-represented makes with respect to MPG while Toyota (Lexus and Toyota) and Ford Motor Company (Ford and Mercury) are the best represented manufacturers for high MPG vehicles, with four each.

Below are the top 10 cheapest vehicles to buy and operate, ranked by average cost per mile. Only 3 hybrids made the top 10, and all of the top 6 vehicles are regular gas engine vehicles with great gas mileage and low purchase price.

The category breakdown (below) offers a balanced combination of all three high-fuel-efficiency vehicle types -- gas, hybrid and diesel -- as well as a real cross-section of makes.  The full list of vehicles that fit the criteria for the study, as well as their net price/MPG, can be found at the TrueCar.com Truth Blog.

"We understand that the environment continues to be a topic of concern for all Americans," added Toprak.  "TrueCar.com hopes this list helps green-conscious consumers save a little green of their own."

* Combined MPG is calculated as 55% City and 45% Highway driving.

** Average gas price was calculated on April 19, 2010 to be $2.86.

NB: Customer cash rebates included in the analysis were the most commonly offered cash rebates and Federal Tax credits as of April 20, 2010 and local incentives may vary.  To get the most current market price as well as incentives, please visit www.truecar.com.  Vehicles chosen are the cheapest trim levels for the models that qualify for the analysis' parameters.

About TrueCar

TrueCar is the authority in new car prices.  We show car buyers and car dealers how much people actually paid for a particular car in a specific local area.  With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious -- using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers.  Our innovative new car pricing service is offered free of charge on our website at www.truecar.com, on our mobile site at mobile.truecar.com, and via syndication of our tools and pricing data to leading automotive research sites throughout the web. 

About TrueCar Data

TrueCar obtains data directly from car dealers, respected dealer management system (DMS) providers, and well-known data aggregators within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more.  TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem.  Our data is among the most timely and comprehensive in the industry, as we are able to process most car sales within a week of the actual sales date, and have a substantial fraction on the site within 48 hours of the actual sale.  TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.

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Jesse Toprak

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SOURCE TrueCar.com