Lexus Testing New Hybrid Math
In 2005, Lexus began manufacturing hybrid model vehicles in the U.S. with a steep premium above gasoline vehicles. For 2018, Lexus has decided to test a new math to calculate the premium to crossover from gasoline to hybrid vehicles. This math will bring the price of hybrid models much closer to the price of gasoline vehicles. The goal of this new math is to reach a broader range of customers for the hybrid models.
The new way of calculating the hybrid premium will also help Lexus to meet this year’s target for federal fuel economy. The new hybrid premium will bring the price of hybrid model vehicles to within $1500 of traditional gasoline vehicles. The significant savings is accomplished by the elimination of certain upgrade requirements to go from gasoline to hybrid powertrain.
How much of a difference does the new math make? In 2017, the price difference to crossover an RX from gasoline to hybrid was about $5,820. The 2018 model RX crossover difference is only $1025. Another example is the 2017 NX premium of $3035 versus the 2018 NX premium of $950. These significant savings is sure to bring in broader range of customers interested in buying a more environmentally friendly vehicle.