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A sign indicates a charging station for electric vehicles.Because hybrid cars get greater miles per gallon, they consume less gasoline. This means savings for individual consumers as well as the United States, which is currently the world's biggest oil consumer. This could reduce American dependence on foreign oil, much of which is imported from unstable regions of the world, such as the Middle East. - Although hybrid vehicles have greater fuel economy than internal combustion vehicles, a report by MarketWatch points out that hybrid cars come with higher sticker prices and that it could take more than 10 years of fuel savings to offset the car's purchase price.
- Beginning in 2004, the federal government and some states offered a variety of tax credits for people who purchased hybrid cars. The federal government began phasing them out in 2006.
- States that offer tax credits for purchasers of hybrid cars include Colorado, Connecticut, Illinois, Louisiana, Oregon and South Carolina. In addition, other states offer different types of benefits and incentives, such as sales tax exemptions and fee exemptions.
- According to MarketWatch, hybrid cars also could benefit consumers through less money spent for maintenance and repairs. The batteries appear to have long lives, and brakes may cost less to repair.
