Electric cars get headlines. But car shoppers are actually buying hybrids.
Automakers are ratcheting up the design and production of all-electric cars rapidly. Globally, there will be more than 500 EV models for sale by 2022. And, sales numbers for electric vehicles (EVs) are growing – just not as quickly as those for hybrids. These combined gas-electric powertrains improve fuel economy and reduce emissions. At the same time, they retain the range and quick refueling that Americans expect from traditional cars.
According to a Bloomberg analysis, sales of pure electric cars in the U.S. increased 6 percent in 2019 from 2018, while sales of hybrids grew 17 percent.
There are indications that electric car sales will overtake hybrids in the long run. Investors, who necessarily focus on future returns, have driven the valuations of electric car makers and battery suppliers to record highs. Countries are enacting or considering policies designed to encourage the end of gasoline-powered cars. And automakers are bringing out new electric designs quickly (Hyundai announced 23 new electric cars in its pipeline just last week), with some brands, such as Cadillac, planning a switch to an all-electric lineup.
Automakers are global businesses, and EV sales growth in Europe and China is driving many of their decisions.
Hybrids rule, for now
But, in the shorter term, buyers want hybrids. Toyota now projects that hybrids will account for a quarter of its sales in 2021, and recently revealed that its RAV4 hybrid outsold the gasoline-powered version this past summer.
EVs may be the right solution for many buyers. Our list of the best electric cars includes options in most segments of the market, from small cars to large SUVs.
But many shoppers still face practical hurdles when considering an EV. America’s charging infrastructure lags well behind the millions of stations serving gasoline-powered cars. Those who live in apartments or condominiums may lack regular access to charging ports.
For many, a hybrid will still make more sense, and our ranking of the best hybrid cars also features options for virtually any need.
