Increased Plug In Hybrid Demand Drives Prices Sky High
As the demand for pure electric vehicles (EVs) slows, plug-in hybrids (PHEVs) are gaining popularity, driving their prices higher than ever. According to recent data, the average PHEV now sells for $63,000, outpacing EV prices by $4,400. This shift reflects growing consumer preference for the flexibility of hybrids that offer both electric range and combustion engines to alleviate range anxiety. Major automakers like Toyota, Ford, and Volvo are adjusting their strategies to meet the rising demand for hybrids while slowing down their EV rollout.
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