Hybrids are having a moment. Here's what you need to know if you're in the market.

microsoft, hybrids are having a moment. here's what you need to know if you're in the market.

More car shoppers are heading to dealer lots in search of hybrids. Maskot/Getty Images

  • Hybrids are more popular than ever.
  • Regular hybrids are a better deal than plug-ins right now.
  • Even if you pay an initial upcharge, a hybrid can save you money in the long run.

Hybrids are having a moment as demand for electric vehicles cools.

These vehicles — which come in plug-in varieties or with hybrid engines that don't need to be charged at all — offer an attractive compromise for a new, more practical green car shopper that is dominating the market.

These shoppers are turning to bridge technologies like hybrids and plug-in hybrids, reviving a segment once thought by some to be a relic of the pre-Tesla automotive industry.

The high demand for hybrids dispels a misconception about electric vehicles: that interested buyers don't exist.

Recent studies have proven that shoppers are very interested in switching to a more environmentally friendly vehicle — they're just more likely to consider a partially battery-powered car over a pure electric vehicle.

The industry is adjusting accordingly. GM is reversing its plans to skip hybrid models in North America, while rival Ford is leaning more heavily on its existing hybrid lineup.

Tesla's Elon Musk is even blaming the current hybrid craze for his company's softer sales in the first quarter, calling out an industry-wide prioritization of hybrids for cutting into EV sales.

But if you're heading to the lot in search of a partially battery-powered car, you should know that not all hybrids are created equal.

A regular hybrid is a better deal than a plug-in right now

Regular hybrids tend to be cheaper than their plug-in counterparts.

The average price paid for a regular hybrid is around $41,000, compared to around $56,000 for plug-ins. For comparison, the average fully electric vehicle sold for $56,648 in May, according to Cox Automotive.

Shoppers who are turning to hybrids after ruling out a fully electric car often live in areas with limited access to charging, creating the same issue of finding places to fuel a plug-in hybrid.

The sticker price for a hybrid is much easier for the average consumer to swallow, but even if you're paying an upcharge from a gas-powered car, you can end up making that money back.

A study from Consumer Reports in late 2023 found that these cars, on average, end up saving drivers $5 in fuel savings for every $1 spent in increased purchase price.

In addition to fuel savings, hybrids also offer maintenance benefits similar to that of an electric car, which requires less frequent maintenance than an internal combustion engine, Consumer Reports found.

On average, hybrids studied by Consumer Reports cost $2,785 to maintain over a 10-year period, compared to $2,320 for a battery-electric car.

These numbers are adding up for car shoppers, too. Hybrid sales have been on the rise since the start of the year, bolstering brands like Toyota and Ford, which have heavily incorporated these cars into their current lineup.

If you enjoyed this story, be sure to follow Business Insider on Microsoft Start.

OTHER NEWS

14 minutes ago

Justice Thomas Goes Rogue on Trump Immunity Case, Pushes to Ditch Special Prosecutors

15 minutes ago

DWP halts benefits of 184,000 people in 'unacceptable' move

15 minutes ago

Kaizer Chiefs linked with outgoing Pirates and Sundowns stars

15 minutes ago

Camera IconSupernova Comic Con and Gaming: Socials from pop culture showcase at Perth Convention and Exhibition Centre

15 minutes ago

Rarest Chevrolet Engine Produced In The '70s

15 minutes ago

Staggs out, Oates returns for Broncos against Panthers

15 minutes ago

New lord mayor to target ‘completely unacceptable’ safety issues, cleanliness

15 minutes ago

Victoria Derbyshire clashes with Chris Philp over Labour tax attacks: ‘You’re wrong’

15 minutes ago

Girls Aloud's Nadine Coyle breaks down in tears onstage during Sarah Harding tribute and is comforted by Cheryl, Kimberley and Nicola

15 minutes ago

Euro 2024 exit spells end for Belgium’s underachieving ‘Golden Generation’

15 minutes ago

Ryanair records busiest ever month

15 minutes ago

Nordic chronic kidney disease diet enhances health-related quality of life

15 minutes ago

Protesters speak out after shutting down Toronto's Pride Parade

17 minutes ago

Misfiring France rely on granite defence

19 minutes ago

Watch live as Dutch fans march in Munich ahead of Euro 2024 last-16 match against Romania

19 minutes ago

General election - latest: Second Reform candidate defects to Tories as postal vote delay sparks urgent probe

19 minutes ago

Car dealership losses from CDK software outage could soon reach $1 billion, study finds

19 minutes ago

‘Million Dollar Listing: Los Angeles’ stars warn ‘not just rich people’ affected by city’s ‘mansion tax’

19 minutes ago

Prescription drug prices have surged almost 40% over the past decade

19 minutes ago

California restaurants can charge service fees but there's a catch

19 minutes ago

Flight attendant reveals why planes are always cold

19 minutes ago

Referee makes classless move against U.S. captain

19 minutes ago

Joburg's middle and high-income earners hit by City Power's new R200 charge

19 minutes ago

Royals host the Rays to begin 3-game series

19 minutes ago

Ukrainians return to shattered villages, to eke out lives in the shells of homes

19 minutes ago

Which is better: a cheap new car, or a better-quality used one?

19 minutes ago

Denmark's navy crisis: Faulty frigates force command from port

19 minutes ago

Viktor Orbán visits Kyiv for surprise talks with Volodymyr Zelenskiy

19 minutes ago

Joe Tippmann named to NFL.com's All-Breakout Team for 2024

19 minutes ago

Agreement reached: 20 y/o now set to leave Leeds alongside Cresswell

19 minutes ago

Russia faces energy crisis as Ukrainian drone attacks intensify

19 minutes ago

Why Beryl Is a Bad Sign for This Year’s Hurricane Season

19 minutes ago

Soccer-Messi back at training ahead of Argentina's Copa America quarter-final

19 minutes ago

Sky Sports: "Unique" 60k-a-week Newcastle hero in "talks" over summer exit

19 minutes ago

France star “disgusted” with Euro 2024 referees as Gareth Southgate frustration shared

19 minutes ago

Pirates open 3-game series against the Cardinals

19 minutes ago

BBC Death in Paradise star 'heartbroken' as she shares update on new series

19 minutes ago

LeBron, Bronny James make history as NBA's first father-son duo

19 minutes ago

Stranded in Barbados: T20 World Cup-winning Indian cricket team may return home on Tuesday

19 minutes ago

'Gutted' fans insist Andy Murray 'deserved a better ending than this' as the Scot is forced to call time on his men's singles career at Wimbledon after withdrawing from first round tie against Tomas Machac through injury