Chrysler announced today that it is pricing its full-size 4x4 sport-utility vehicle (SUV) hybrid electric vehicles nearly $8,000 below the competition.

The manufacturer’s suggested retail price (MSRP) for the new 2009 Dodge Durango HEMI Hybrid is $45,340, including $800 for destination. The MSRP for the new 2009 Chrysler Aspen HEMI Hybrid is $45,570, including $800 for destination. Additionally, customers are expected to receive an estimated tax credit of $1,800.

“The new 2009 Chrysler Aspen Hybrid and Dodge Durango Hybrid deliver fuel economy up to 20 miles per gallon—a 40 percent improvement in the city and 25 percent overall—best-in-class cargo room, and are priced nearly $8,000 below the competition,” said Deborah Meyer, Vice President and Chief Marketing Officer – Chrysler LLC. “Offering the unique combination of value, fuel economy, performance and capability, Chrysler’s hybrid vehicles deliver exactly what SUV owners are demanding in today’s marketplace.”

The 2009 Chrysler Aspen and Dodge Durango HEMI Hybrid vehicles are Chrysler’s first entries in the hybrid market.

Capable of towing 6,000 lbs., the 2009 Chrysler Aspen and Dodge Durango HEMI Hybrid vehicles deliver seamless, dependable power and performance on demand, in an efficient package. With an electrically variable transmission—featuring the best characteristics of an automatic transmission and hybrid drive—and two different hybrid modes of operation, the drive system dramatically improves fuel economy around town and at highway speeds.

The 2009 Chrysler Aspen HEMI Hybrid and Dodge Durango HEMI Hybrid are coupled with Chrysler’s renowned 5.7-liter HEMI V-8 engine. Total output, when combined with the advanced two-mode hybrid system, is 385 horsepower and 380 lb.-ft. of torque. In hybrid form, the HEMI continues to feature Chrysler’s fuel-saving MDS technology, which allows the engine to seamlessly alternate between four-cylinder mode when less power is needed and V-8 mode when more power is in demand. The two-mode system provides assistance from electric motors, allowing the HEMI V-8 to remain in four-cylinder mode more often than without a hybrid powertrain, improving overall fuel economy.

The result: In typical use, Chrysler expects customers will reduce fuel consumption by several hundred gallons of gas per year.

Built at the Newark Assembly Plant in Delaware, the new 2009 Chrysler Aspen HEMI Hybrid and Dodge Durango HEMI Hybrid vehicles arrive in showrooms this August.