( NewsNation ) — While demand for electric vehicles has slowed, hybrids are becoming more popular, a sign Americans are looking for a compromise between gas-powered and fully electric vehicles.
Over the past year, hybrid market share has nearly doubled, increasing from 4.9% in 2022 to 9.7% in 2023, a 99% growth, according to Edmunds . Over that same period, the EV market share grew by just 25%. More cars are calling for premium gas but do you have to use it? The trend has continued in 2024. Last month, U.S. sales of hybrids grew five times faster than EV sales, Reuters reported , citing Morgan Stanley.
Hybrids, which combine an internal combustion engine with a battery-powered electric motor, tend to get better gas mileage than their nonhybrid counterparts but don’t have the range limitations that many fear with fully electric vehicles.
In other words, hybrids provide many of the eco-friendly advantages […]
Read the Whole Article From the Source: www.newsnationnow.com
- Gold SKYROCKETED during Trump’s first term and is poised to do it again. Find out how Genesis Precious Metals can help you secure your retirement with a proper self-directed IRA backed by physical precious metals.