Gas-powered cars are losing market share to EVs and hybrids

[Think. Again.]

By Dan McCarthy, 1 March 2024
Full Article: https://www.canarymedia.com/articles/electric-vehicles/chart-gas-powered-cars-are-losing-market-share-to-evs-and-hybrids

Electric vehicle sales hit record heights last year. Sales of hybrids also soared. The trend is eating away at the market share of conventional cars.

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Last year, traditional internal-combustion vehicles accounted for 84 percent of total passenger vehicle sales in the U.S. — their lowest-ever share of sales. Meanwhile, sales of fully electric vehicles and hybrids are climbing to new heights.

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The change is driven in part by a surge in sales for hybrid vehicles with a gas-powered engine and an onboard battery but no plug, which together with plug-in hybrids made up nearly 10 percent of new car sales last year, according to the U.S. Energy Information Administration. But although hybrids burn less gas than a conventional car, they don’t offer a pathway to eliminating carbon pollution from vehicles.

Battery-electric vehicles, on the other hand, do. And the good news is that sales of 100 percent electric vehicles are also on a tear. Last year, despite some market difficulties, they accounted for 7 percent of new vehicle sales.

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But a February report from Clean Investment Monitor, a joint project between Rhodium Group and the Massachusetts Institute of Technology’s Center for Energy and Environmental Policy Research, found that electric vehicle sales are on track for the U.S. to meet its climate goals — in spite of the industry’s current growing pains.

Full Article: https://www.canarymedia.com/articles/electric-vehicles/chart-gas-powered-cars-are-losing-market-share-to-evs-and-hybrids

[SarahD]

1. We want it that way.

Cuts down on greenhouse emissions. And they're cuter.

[MichMan]

2. You think the Tesla Cybertruck is cute?

[SarahD]

3. Not me, but some think so.

But they think the same thing about hairless cats. Actually, most EVs look like gas powered cars, so it's all in my imagination.

[NBachers]

4. I bought a new Corolla in December; If I had to do it over again, I'd go for the hybrid. I love the Corolla, but the

hybrid my friend bought is better.

[OnlinePoker]

5. I've got an ICE Camry coming in May.

I couldn't afford the extra $6k for the hybrid without doing financing, something I don't want to do. As for all electric vehicles, they're just out of my price level if I get the extended range I need.

[NBachers]

6. I paid almost all cash for the Corolla; the hybrid would've been a little beyond the financing I wanted to commit to.

I'm quite happy with the Corolla; I got the Convenience Package, which was well worth it. It added more money, but that's OK.