Report Predicts Hybrid Vehicles Gaining Popularity

A recent report has suggested that hybrid vehicles will become a more dominant force in the U.S. auto market in coming years, according to Kelley Blue Book.

A report from S&P Global Mobility has predicted an increase in hybrid vehicle sales in the coming years. Reuters reports that hybrids account for 7% of U.S. sales this year, EVs for 9%, and internal combustion engine (ICE) vehicles take up over 80%.

According to S&P’s prediction, however, by 2028 hybrids will take up 24% of auto sales. EVs will account for 37%, and ICE nearly 40%.

The reason given for this potential increase in demand for hybrids is attributed to EVs growing past their introductory phase as consumers become more aware of the downfalls: the biggest of which being the lack of EV charging infrastructure.

Despite the issues with EVs, many consumers are concerned with climate change and the negative impact their vehicle may have, presenting hybrid and plug-in hybrid vehicles (PHEVs) as a viable solution.

“With the tightening of emissions requirements, hybrids provide a cleaner fleet without requiring buyers to take the leap into pure electrics,” AutoForecast Solutions Vice President Sam Fiorani explained to Reuters.