Originally Posted by
Evilbred
Car is relatively bad in fuel economy, when compared to competitors in the city car class. The thing is, you don't get all the fuel saving technology in a car that costs $10k. Cost of ownership, which is what we're all truly concerned with (unless you are a tree-hugging hippy) is probably the best for the Micra.
I just priced up the base model manual Honda Fit (14575 MSRP, 16103 before tax and 18196.39 taxes in).
Now, assuming you drive 20,000km a year, and gas is about a $1 a liter. The Fit gets 6.5l/100km combined, the Micra gets 7.7l/100km combined.
So (20,000 * 7.7 /100=1540) While (20,000 * 6.5 /100=1300) So you save about $240 a year in gas in the fit.
Now, assume you will have the car for 8 years, which is standard for Canada. You save $1920 in gas over that 8 years. Not bad eh? Well, I paid $12,800 for my Micra with taxes and everything in. So the Fit owner paid $5396 more than me. After 8 years he still paid $3,476 more than me. Not only that, but my savings are upfront, while his savings build up, so assuming I invest that money in a prudent way (blue chip dividend companies paying 4%) I have $4,757 before capital appreciation. Infact, before long the money I saved will build up to the point where it starts paying returns greater than his gas savings.
That, gentlemen, is why cost of ownership is the only thing that matters, not fuel economy.