analysis
Gas Guzzlers' Drivers Would Benefit Most from Higher Fuel Economy Standards
Owners of the light trucks that ranked among the 10 most expensive to fuel could save over $300 per year if off-the-shelf technology were used to raise those trucks’fuel economy by only 30 percent. Savings at the pump would pay for the cost of the fuel economy improvements in about 18 months, producing a lifetime net savings of over $2,000. In some high-priced gasoline markets (e.g. Chicago, New York or Los Angeles), paybackcould come in one year or less. Owners of one of the 10 most expensive cars to drive would save about $200 per year if their car ’s fuel economy were increased by 27 percent through the implementation of off-the-shelf technologies. They would recoup the costs of the improvements through fuel savings in a little over two years, producing a lifetime net savings of $1,100 to $1,400. In some high-priced gasoline markets, payback times could be reduced further. | The 10 Most Expensive Light Trucks and Cars to Fuel among Popular Models | | Rank | Light Trucks | Cost of Fuel in 2002 | Lifetime Fuel Cost | Payback Period (yrs) | Potential Fuel Savings in 2002 | Lifetime Net Savings | | 1 | Dodge Ram 1500 | $ 1,468 | $ 12,721 | 1.5 | $ 339 | $ 2,436 | | 2 | Dodge Durango 1500 | $ 1,433 | $ 12,422 | 1.5 | $ 331 | $ 2,367 | | 3 | Ford Expedition | $ 1,423 | $ 12,337 | 1.5 | $ 328 | $ 2,347 | | 4 | Chevrolet Suburban | $ 1,401 | $ 12,145 | 1.5 | $ 323 | $ 2,303 | | 5 | Chevrolet Tahoe | $ 1,368 | $ 11,860 | 1.6 | $ 316 | $ 2,237 | | 6 | Toyota Tundra | $ 1,340 | $ 11,612 | 1.6 | $ 309 | $ 2,180 | | 7 | Ford F150 | $ 1,316 | $ 11,406 | 1.6 | $ 304 | $ 2,132 | | 8 | Dodge Dakota | $ 1,301 | $ 11,276 | 1.7 | $ 300 | $ 2,102 | | 9 | GMC Serra | $ 1,282 | $ 11,107 | 1.7 | $ 296 | $ 2,1063 | | 10 | Chevrolet Silverado 1500 | $ 1,266 | $ 10,973 | 1.7 | $ 292 | $ 2,032 | | Average Light Truck | $ 1,214 | $ 10,502 | 1.8 | $ 280 | $ 1,928 | | | | Rank | Cars | Cost of Fuel in 2002 | Lifetime Fuel Cost | Payback Period (yrs) | Potential Fuel Savings in 2002 | Lifetime Net Savings | | 1 | Mercury Grand Marquis | $ 1,024 | $ 8,878 | 2.3 | $ 218 | $ 1,387 | | 2 | Ford Mustang | $ 997 | $ 8,465 | 2.4 | $ 208 | $ 1,300 | | 3 | Ford Taurus | $ 972 | $ 8,426 | 2.4 | $ 207 | $ 1,291 | | 4 | Chrysler PT Cruiser | $ 959 | $ 8,311 | 2.5 | $ 204 | $ 1,267 | | 5 | Mercury Sable | $ 950 | $ 8,235 | 2.5 | $ 202 | $ 1,251 | | 6 | Nissan Maxima | $ 950 | $ 8,235 | 2.5 | $ 202 | $ 1,251 | | 7 | Dodge Intrepid | $ 938 | $ 8,125 | 2.5 | $ 199 | $ 1,227 | | 8 | Chrysler Sebring | $ 925 | $ 8,018 | 2.5 | $ 197 | $ 1,205 | | 9 | Buick LeSabre | $ 921 | $ 7,982 | 2.6 | $ 196 | $ 1,197 | | 10 | Pontiac Grand Prix | $ 917 | $ 7,948 | 2.6 | $ 196 | $ 1,197 | | Average Car | $ 868 | $ 7,521 | 2.7 | $ 184 | $ 1,099 | NOTES
- Based on vehicle models with sales of at least 100,000 units in 2001.Sales data from: Automotive News, 2002 Market Data Book, May 2002.
- Annual mileage assumed to be 15,000 consistent with the average for the first 3 years of ownership. Lifetime mileage is set to 170,000 miles over 15 years.
- Gasoline prices continually fluctuate, but the projected average for this year is near $1.40 per gallon according to the Energy Information Administration (http://www.eia.doe.gov/emeu/steo/pub/pdf/a4tab.pdf).
- Potential savings for light trucks calculated based on a 30% improvement in fuel economy per Feng An et. al., Near-Term Fuel Economy Potential for Light-Duty Trucks, SAE paper 2002-01-1900. Potential savings for cars is based on internal analysis using the same methodology.
- Fuel economy and class definitions from EPA, Light-Duty Automotive Technology and Fuel Economy Trends 1975 Through 2001, or from www.fueleconomy.gov as necessary.
- Lifetime costs/savings include a real discount rate of 5%, consistent with a nominal car loan interest rate of 8%. |
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