{"id":76451,"date":"2024-09-03T12:03:30","date_gmt":"2024-09-03T16:03:30","guid":{"rendered":"http:\/\/autosector.com\/?p=76451"},"modified":"2024-09-03T12:03:30","modified_gmt":"2024-09-03T16:03:30","slug":"why-plug-in-hybrid-prices-are-soaring","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=76451","title":{"rendered":"Why plug-in hybrid prices are soaring &#8211; Autoblog"},"content":{"rendered":"<ul class=\"summary-list\">\n<li>Plug-in <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/hybrid\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:0;\">hybrids<\/a> are way more expensive than <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/electric\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:1;\">electric vehicles<\/a> right now.<\/li>\n<li>Hybrids are having their best year ever.<\/li>\n<li>Plug-in hybrids are a good compromise, but shoppers are still following the deals.<\/li>\n<\/ul>\n<p>You might want to start saving up if you&#8217;re looking for a <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/tag\/phev\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:2;\">plug-in hybrid<\/a>.<\/p>\n<p>These cars, equipped with an internal combustion engine to take over when the <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/tag\/battery\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:3;\">battery<\/a> powering the vehicle runs out of juice, have become an alluring compromise for a new group of <a href=\"https:\/\/www.businessinsider.com\/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:4;\">more practical green-car shoppers<\/a>.<\/p>\n<p>That&#8217;s giving new life to the <a href=\"https:\/\/www.businessinsider.com\/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:5;\">once-withering hybrid segment<\/a>. Car companies are leaning into this segment more than ever, changing production and sales strategies to meet the growing demand for <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/hybrid\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:6;\">hybrid cars<\/a>.<\/p>\n<p>For drivers who can&#8217;t commit to a fully <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/electric\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:7;\">electric car<\/a> due to <a href=\"https:\/\/www.businessinsider.com\/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:8;\">range anxiety<\/a> for longer trips, a plug-in hybrid offers the best of both worlds. These cars can run on battery power alone before a gas-powered engine kicks in, allowing daily commutes to be zero-emissions. At the same time, a longer trip can include a mix of battery-powered and gas-powered miles.<\/p>\n<p>But there&#8217;s one problem: plug-ins are getting expensive.<\/p>\n<p>Shoppers looking for a more practical alternative to a fully electric car might be shocked to find that the average plug-in hybrid sold for around $62,985 in July, according to data from the car-shopping website Edmunds. That&#8217;s $4,366 more than the average pure electric car sold for, the firm found.<\/p>\n<p>It wasn&#8217;t always this way. As recently as the spring of 2022, the imbalance tipped in the other direction, with the average EV selling for about $4,000 more than a plug-in hybrid, according to Edmunds&#8217; data.<\/p>\n<h2 id=\"fc13abc4-126a-48bd-8825-cabeb2cff771\">A new day for hybrids<\/h2>\n<p><a href=\"https:\/\/www.businessinsider.com\/hybrids-more-popular-than-evs-toyota-ford-tesla-cars-electric-2024-3?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:9;\">Hybrid cars<\/a>, once considered a relic of the pre-Tesla EV market, are having their best year ever. Sales were up nearly 31% in the second quarter of this year, according to data firm Wards Intelligence.<\/p>\n<p>After lobbying from car manufacturers and their unions, the <a href=\"https:\/\/www.businessinsider.com\/biden-is-probably-going-to-ease-strict-ev-requirements-2024-2?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:10;\">Biden Administration<\/a> wrote the newly popular plug-in hybrids into its <a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=62924\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:11;\">finalized rule<\/a> for boosting electric car sales, allowing these vehicles to account for at least 13% of <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/research\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:12;\">new car<\/a> sales by 2032 to meet new <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/tag\/emissions+standards\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:13;\">emissions standards<\/a>.<\/p>\n<p>This was considered a big win for car companies, who argued the original rules that excluded partially electric cars were <a href=\"https:\/\/www.businessinsider.com\/automakers-over-estimated-electric-vehicle-demand-early-adopters-2023-10?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:14;\">unrealistic<\/a>.<\/p>\n<p>Manufacturers are responding in kind.<\/p>\n<p>In late August, <a href=\"https:\/\/www.businessinsider.com\/ford-changes-ev-strategy-cancels-electric-suv-2024-8?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:15;\">Ford<\/a> announced it was canceling long-held plans for electric three-row SUVs and replacing them with hybrid models. This strategy shift will initially cost the company nearly $2 billion, but it will replace unprofitable cars with ones <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/ford\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:16;\">Ford<\/a> knows it can make money on.<\/p>\n<p>&#8220;It&#8217;s coming back to understanding the customer, &#8221; Ford Chief Financial Officer John Lawler told reporters, emphasizing the need for its battery-powered cars to be profitable within two years of launch.<\/p>\n<p>Last week&#8217;s pivot adds to <a href=\"https:\/\/www.businessinsider.com\/ford-hybrid-battle-against-tesla-ev-maverick-pickup-2024-3?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:17;\">Ford&#8217;s strategy<\/a> of prioritizing hybrids to attract new customers to the brand.<\/p>\n<h2 id=\"9dd4dd9b-6e91-4d4b-97d6-5c073e6a6cd5\">Green car shoppers still follow the deals<\/h2>\n<p>Despite rabid demand for hybrids, the plug-in variety of these cars is sitting around on <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/car-dealers\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:18;\">dealer<\/a> lots for longer than their fully electric counterparts, according to Edmunds. <a href=\"https:\/\/www.businessinsider.com\/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8?utm_medium=referral&amp;utm_source=yahoo.com\" target=\"_blank\" rel=\"noopener\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:19;\">EVs in July spent around 81 days<\/a> on a dealer lot before being sold, while plug-in hybrids sat around for 84 days.<\/p>\n<p>Despite the appeal of plug-in hybrids, which are the perfect compromise for someone nervous about access to charging, affordability appears to supersede all for electric car shoppers.<\/p>\n<p>You can see that reflected in the popularity of hybrids without the plug-in feature, which are much less expensive than either battery-electric cars or plug-in hybrids.<\/p>\n<p>These cars, which only spend a relatively low average of 30 days on a dealer lot, had an average transaction price of $43,142 in July, according to Edmunds. That&#8217;s $4,574 cheaper than the price paid for any new car that same month.<\/p>\n<div class=\"read-original\">\n Read the original article on <a href=\"https:\/\/www.businessinsider.com\/plug-in-hybrid-prices-soaring-demand-electric-cars-2024-9\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:20;\">Business Insider<\/a>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Plug-in hybrids are way more expensive than electric vehicles right now. Hybrids are having their best year ever. Plug-in hybrids are a good compromise, but shoppers are still following the deals. You might want to start saving up if you&#8217;re looking for a plug-in hybrid. These cars, equipped with an internal combustion engine to take [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[],"class_list":["post-76451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76451"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76451"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}