U.S. Hybrid Vehicle Sales Surge as Electric Vehicle Growth Slows

Automakers face concerns as EV sales growth stalls, while hybrids gain popularity due to their convenience and reliability.

Sales of hybrid vehicles in the U.S. have surged, with over 1 million sold in 2023, a 76% increase from the previous year.
Despite a record of over 1 million EV sales this year, the growth rate of EV sales has begun to slow, causing concern among automakers.
Reasons for the preference for hybrids over EVs include higher EV prices, scarcity of charging stations, and the convenience of hybrids.
Ford, the second largest hybrid seller in the U.S., plans to produce enough hybrids to quadruple sales within five years.
Consumer Reports found that hybrids were the most reliable type of power system in its auto reliability survey this year.