By Consumer Reports

With gas prices in a constant state of flux is it a good idea to get yourslef behind the wheel of a hybrid?  Gas prices should be one measure of weight used in making this determination;  we have seen gas prices go from $4.00 a gallon in the summer of ’08 to the current price of under $2.00 ( November ’08).  Environmental concerns should also weigh into the equation.

There was a time when luxury and performance were not used inthe same sentence as hybrid.  Those days are gone with Mercedes, Lexus and BMW releasing hybrid luxury and performance vehicles.  Please consider the tone of the Consumer Reports article as it was written when gas prices were reaching all time highs.

Gas/electric hybrid vehicles present a conundrum for many car shoppers. They typically deliver the best fuel economy in their class, but they’re also priced higher than similar conventional cars. So it has been difficult to know whether a hybrid will save money overall.

Not anymore. With gas prices soaring, our latest analysis of owner costs shows that you can save more than $4,000 over five years by choosing a hybrid over a similar conventional gasoline-powered vehicle.

Six of the 12 affordable hybrids we looked at can save you from about $500 to $4,250, even without tax credits, and pay back their price premium after only one year. They are the Toyota Prius and hybrid versions of the Malibu and Tahoe, Ford Escape, Saturn Vue, and Toyota Camry. For several, you can save even more by taking advantage of federal tax credits.

The Honda Civic and Saturn Aura hybrids will cost you a little more than their conventional counterparts—from $250 to $750 over five years—but some consumers might find it worthwhile to drive a more environmentally friendly car. With federal tax incentives, both come out ahead after just one year.

Three hybrids—the Lexus GS 450h and RX 400h and the Toyota Highlander Hybrid—cost significantly more than their counterparts in the first five years.

Hybrid interest in the US peaked in Summer ’08 in direct correlation to gas prices.  Hybrids sales were up close to 40 percent last year.  Many dealerships had a difficult time keeping up with consumer demand.

Other important determining factors when choosing a hybrid purchase in terms of return on investment.

It would take many years for most hybrids to pay back their premium price just on fuel savings. But fuel costs are only a relatively small part—25 percent—of the overall owner costs in the first five years. Other factors include depreciation, insurance, interest on financing, maintenance and repairs, and sales tax.

In a nut shell, the Consumer Reports article tell us that there is certainly room for more innovation in terms of the relationships between luxury, performance and economics.  We would like to see that line more blurred and not so cut and dry.

With the world and US economies in as much a state of flus as the price of gas we hope that the US Automakers make a bit a sea change in terms of the vehicles they are putting out and get int a competitive lockstep with the foreign auto manufacturers.