May. 30, 2023 at 8:51 pm

EV or Hybrid? Car buyers prefer hybrids and PHEVs over EVs

admin1 year ago2 December 2023No tags

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Electric vehicles may be getting all the attention, but American drivers actually still favor hybrid cars, which sell in greater numbers.

Car buyers today are nearly twice as likely to consider hybrids than fully electric vehicles (EVs), according to a new study. Kelley Blue Book Survey,

There are two main categories of hybrids: 1) traditional hybrids, which have an electric motor that supplements the gas engine to get better mileage; and 2) plug-in hybrid vehicles (PHEVs), which have gas engines but are (appropriately) plugged in to charge and can travel about 30 miles without using any fuel.

Combining these two classifications, 18% are considering a hybrid when they shop for a new car, according to the survey. Meanwhile, only 9% of car buyers are looking to buy an EV.

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Over the next decade, electric vehicles may come to represent a major share of the auto market. Seven states have announced plans to ban the sale of new gas-powered cars and brands like General Motors after 2035 Intended to be all electric till that time.

But in the current car buying climate, many drivers are unwilling to switch to fully electric vehicles, which typically need to be charged after a few hundred miles. This might be off-putting for some buyers, given that the country’s charging infrastructure is still developing and charging usually takes much longer than filling a tank with gas.

Hybrids are cheaper than EVs. In April, the average price of a hybrid/alternative energy car was $40,123, compared to an average price of $55,089 for EVs. Cox Automotive,

Although the availability of EV models is improving and there are plans to launch dozens of new EV models over the next two years, there are more hybrid models to come. For now, hybrids make up the bulk of the sales as well. Cox Automotive reported that about 245,000 hybrids were sold in the second quarter last year, while EV sales were less than 200,000.

EVs are in the limelight as they form the fastest growing segment of the car market and appear to be the future of the auto market. But hybrid versions of classic vehicles like the Toyota RAV4 and Honda CR-V are more widely regarded by shoppers than Tesla’s Model Y, its best-selling electric vehicle.

RAV4 was 4th best selling car in the US last year Toyota reported Nearly 400,000 RAV4s are expected to be sold in 2022, of which more than 168,000 will be hybrids. According to Kelley Blue Book, 231,400 Tesla Model Ys are expected to be sold in 2022.