Report: Variety is key to success of hybrid vehicles

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Buying a new hybrid vehicle could be a process with an extra step in the near future, as consumers may need to decide not only on make and model, but on propulsion system, according to a report from tech news site CNET.

A single type of car could be offered to the public in several different variations, including plug-in hybrid and battery-electric. Vice president of marketing and communications at lithium-ion battery maker A123 Systems Andy Chu told the website this offers consumers better choices.

"As these vehicles come online, the fact that you can choose the type that fits your specific needs will lead to greater adoption. Different regions or countries may gravitate to one architecture or another," Chu said.

While most hybrid vehicles still tend to have higher price points than traditional models, the savings in gasoline could add up quickly, making them attractive to budget-conscious consumers looking to buy cars.

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Some new cars cost less than used and certified pre-owned vehicles

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Purchasing a used car instead of a new one does not necessarily mean saving money, according to auto information company Edmunds.

Due to the current state of the economy, some car makers have produced less expensive versions of their models. Also making these vehicles more affordable is the fact that new cars are frequently financed at lower rates than older vehicles. They also have other advantages, such as the possibility of lower maintenance costs, which add to their appeal.

The company published a list of vehicles whose new prices are the same or lower than the used version. The cars on their list with newer versions that give consumers the most financial benefit over a 60-month loan term are the Lexus LS 460 L 4-door sedan, saving consumers about $2,880 and the Ford F-450 Super duty Lariat, saving consumers $2,580 over the used version.

In addition to costing less than older cars, some new vehicles may also make drivers eligible for savings on auto insurance, since some insurers give discounts for vehicles that have the latest safety features. 

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