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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