With fewer Americans considering electric vehicles this year, hybrids are stepping into the spotlight.
Americans are becoming more hesitant about buying electric vehicles (EVs) and are increasingly turning to hybrids instead. According to recent studies, fewer people are considering EVs this year compared to last year. J.D. Power’s annual Electric Vehicle Consideration (EVC) report revealed that only 24% of people are “very likely” to purchase an EV, down from 26% the previous year. Overall, the likelihood of buying an EV also dropped from 61% to 58%.
One of the biggest reasons for this shift is the concern over charging infrastructure. Despite the increase in the number of charging stations, 52% of people still worry about charging options, which is a 3% increase from last year. Other common concerns include the driving range of EVs, the time it takes to charge them, and the lack of charging options at home or work. High interest rates, low gas prices, and a lack of understanding about available incentives also play a role in the decreased interest in EVs.
Generational differences also impact EV adoption. Generation Y (those born between the early 1980s and mid-1990s) is the most likely to consider an EV, with 32% showing interest. However, this number has dropped by 5 percentage points. Both Generation Y and their younger counterparts, Gen Z, struggle with the high costs of EVs compared to conventional internal combustion engine (ICE) vehicles.
Meanwhile, hybrids are becoming more popular. Hybrids offer some of the benefits of EVs, such as lower fuel costs and reduced pollution, without the anxiety about finding a charger or running out of power on long trips. Stephanie Valdez Streaty from Cox Automotive describes hybrids as a “gateway for the transition” to electric cars. They provide a good option for consumers who aren’t ready to fully commit to an EV.
A March Gallup poll showed that only 44% of American adults would consider buying an EV in the future, down from 55% last year. This attitude shift coincides with a slowdown in EV sales. Americans bought fewer EVs in the first quarter of 2024 than in the previous quarter, marking the first drop since the pandemic began in 2020. On the other hand, hybrid sales have increased, gaining more market share even as EV sales stall.
Hybrids have several advantages over EVs. They are generally cheaper and can run on gasoline, making them convenient for long-distance travel. “You don’t have to change anything about your lifestyle,” Valdez Streaty said. The Toyota Prius Prime SE, for example, is considered the “greenest” car in America by the American Council for an Energy Efficient Economy.
However, hybrids are not without drawbacks. They have two power systems—electric and gas-powered—which can lead to more maintenance challenges. Running on gas is also more expensive than electricity in the long run. Plus, continuing to burn gasoline won’t help avoid the most catastrophic effects of climate change. New federal car pollution rules will push automakers towards EVs after 2030, even though hybrids are currently allowed.
Today, the decision to buy a hybrid or an EV depends on individual circumstances. For those who commute short distances, have access to charging stations, and can afford the upfront cost, EVs make sense. For those who drive long distances and don’t have charging stations nearby, hybrids are a good option.
