How car buyers thinking hybrid over EV should make the decision

April 7, 2024

A range of new and growing options exist on the car dealer lot when it comes to hybrid and electric vehicles, but if you’ve been following the headlines lately, decisions made by major automakers reflect a market tilting more hybrid than EV. Ford just announced it’s delaying an EV pickup and in the short-term focusing more on its North American hybrid lineup.

“EV euphoria is dead,” with the idea of “consumer choice” back in among car companies from Ford to General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin, which are all scaling back or delaying their electric vehicle plans. GM’s EV sales remained insignificant in the most recent quarter.

A Gallup poll out on Monday morning showed that less than half of U.S. adults, 44%, say they are either “seriously considering or might consider” buying an EV, which is down from 55% in 2023. The proportion not intending to buy an EV has increased from 41% to 48%.

But finding the best bang for your buck can be complicated. These decisions often turn on factors such as upfront cost, driving habits, how long you plan to own the car, likely costs over time and even what area of the country you live in.

The answer isn’t always straightforward even amid headlines screaming hybrid. Here are some tips to help car buyers make the right decision.

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