Stellantis leads U.S. plug-in hybrid market, followed by Toyota

Recently, the comparison of sales growth between electric vehicles and plug-in hybrid electric vehicles (PHEV) has triggered heated discussions in the industry. While some argue that slowing growth in electric vehicle sales means a shift toward betting on plug-in hybrids, a new report from Bloomberg New Energy Finance offers a different view. The report points out that both electric vehicles and plug-in hybrids have their own advantages and market needs. Although sales growth of electric vehicles has slowed, they still dominate the market and still have huge potential in the future. On the other hand, plug-in hybrid vehicles also play an important role in the new energy vehicle market, and their sales are growing rapidly. The report also mentioned that electric vehicles and

reports indicate that sales of natural plug-in hybrids will increase by a significant 48% from 2022 to 2023, but this growth rate is still not comparable to that of pure electric vehicles. This is comparable to the 51% growth rate of cars. More importantly, pure electric vehicles have a greater advantage in sales base. This shows that in the current market environment, pure electric vehicles are still a more popular choice for consumers.

According to the editor’s understanding, the report also provides a detailed analysis of the performance of major automakers in the plug-in hybrid vehicle market. Stellantis Group's products will account for up to 46% of total plug-in hybrid vehicle sales in the U.S. market in 2023, with models such as the Jeep Wrangler 4xe and Chrysler Pacifica hybrid performing well. However, despite the success of these models in the market, the report believes that the future of plug-in hybrids is still unclear.

Plug-in hybrids are often seen as a solution to the anxiety of electric vehicle range, but in actual use, their economy and effectiveness have yet to be verified. Bloomberg New Energy Finance's battery price survey shows that the battery price of plug-in hybrid vehicles is much higher than that of pure electric vehicles, which increases their manufacturing costs and selling prices. Additionally, while the U.S. government offers a $7,500 IRA tax credit to encourage electric vehicle purchases, popular plug-in hybrid models like the Toyota Prius Prime and RAV4 Prime are not eligible for this credit because they are manufactured in Japan. .

Technically, plug-in hybrids also face certain challenges compared with pure electric vehicles and non-plug-in hybrids. For example, some models have shorter cruising range and poor fuel economy in non-pure electric mode. This limits the competitiveness of plug-in hybrids in the market. However, this limits the competitiveness of plug-in hybrids in the market.

The report believes that if automakers can launch more plug-in hybrid vehicles with reasonable prices and longer pure electric range, they may be able to attract more consumers. However, in the current market environment, pure electric vehicles are still the more mainstream and popular choice.

The above is the detailed content of Stellantis leads U.S. plug-in hybrid market, followed by Toyota. For more information, please follow other related articles on the PHP Chinese website!