k0an.com

I've been seeing more and more Priuses driving around and I think it's
weird that they are so successful. I put together a comparison of the
Prius with the Matrix (base model) which is Toyota's closest
competitor in size.

Matrix: 200,000 miles / 36 mpg x $2.40 for a gallon of gas = $13,333
Prius : 200,000 miles / 51 mpg x $2.40 for a gallon of gas = $9,411

Prius Gas cost savings: $3,922

Real world price of a Matrix Base model: $14,439
Real world price of a Prius: $21,515

Prius Cost premium: $7,076

The cars have the exact same passenger volume and the Matrix has much
more cargo volume.

Plus, 200,000 miles means that you've exceeded the 150,000 mile
battery warranty so you are due for several thousands of dollars to
replace that.

I definitely think that hybrid technology has potential but it doesn't make economic sense to be an early adopter.

UPDATE: A journalist recently came to the same conclusion.