Hybrid car sales in the US are skyrocketing
According to new sales data from the industry and dealerships. Many American automobile purchasers are switching to hybrid vehicles to counteract the recent spike in petrol costs brought on by the Iran-Contra conflict.
According to data from research firm Motor Intelligence, hybrid sales in the United States have increased by 37% in the two months since the Middle East war started in late February. That exceeded the 15% increase in overall vehicle market sales during that time.
However, despite U.S. petrol prices rising beyond $4 and hitting a four-year high in late April. Completely electric cars have not garnered the same amount of consumer interest, according to data from the American Automobile Association.
According to data from Motor Intelligence, US sales of electric vehicles increased by just 11% in the two months since the pricing war began. Falling short of the general sales trend. Electric vehicle sales remain well below where they were a year ago and are still depressed following the expiration last fall of a $7,500 federal tax credit.
The relative apathy of US buyers toward electric vehicles contrasts sharply with the trend in Europe. Where electric vehicle sales are booming due to rising fuel prices. There are many more affordable electric vehicles for sale in Europe, where tailpipe emissions incre are much stricter than in the US.
Toyota increasing popularity of hybrid vehicles
Since introducing the Prius in the late 1990s, Toyota Motor has profited from the increasing popularity of hybrid vehicles. Two of Toyota’s best-selling vehicles, the Camry sedan and the RAV4 SUV, are now exclusively available in hybrid versions.
In the two months since the start of the conflict in the Middle East, Toyota’s electrified sales in the U.S. grew by 34%. A level that primarily reflects the growth of its hybrid business, along with a relatively small number of full electric vehicles. During that time, Toyota’s total sales in the United States increased by 23%.
