Nissan today announced pricing for the 2007 Altima Hybrid, its first hybrid car, at $24,400. While that may seem like a hefty price for a passenger sedan, it actually is a be
tter deal for consumers than the standard model.
Consumers who buy the hybrid model receive an instant tax credit of $2,350, so the price is really $22,050. The Altima Hybrid includes anti-lock braking system (ABS) and an automatic transmission, and is rated at 42 city/36 highway miles per gallon, for a combined fuel economy rating of 39.
If you add ABS and an automatic transmission to the 2.5S model (rated at 24/31 mpg, or 27 combined), you pay $20,800, or $1,250 less than the hybrid. Based on 12,000 miles driven per year at today's national average price of $2.16 per gallon, hybrid drivers would save $296 dollars per year. So in this worst case scenario that imagines gas prices not rising and people driving 33 miles per day, the Altima Hybrid "pays for itself" in about 4 years. But if gas goes back to $2.50 a gallon, the payback period is about 3.5 years.
Because of the extra power available from the electric motor, the Altima Hybrid has a net horsepower of 198, compared to the 175 hp of the base model. So if you are interested in buying an Altima and the six-cylinder engine is not a must-have, you'd be pretty crazy not to buy the hybrid model.
The Altima Hybrid also stands up well when compared to the Camry Hybrid, which costs more at $26,200 is rated at 147 horsepower, and has the same combined mpg rating.
