Ford Is Benefiting From the Growing Popularity of Hybrids

Right now is a good time to be a car company selling hybrid vehicles. At the end of 2023, the Associated Press reported that sales of hybrids were up — with some car buyers unwilling to go fully electric yet but still finding the technology appealing. The New York Times reported something similar earlier this year, and cited another factor in the resurgence of hybrids: namely, that hybrid vehicles are more affordable than their electric counterparts.

One of the automakers that’s made the most out of this moment is Ford. In a new article for Business Insider, George Glover explained the factors behind that — including the competitive price for the hybrid Ford Maverick. Glover notes that Ford hybrid sales increased by 37% in January and February of this year.

There are a host of things that need to come together for electric vehicles to become more widespread, and cost remains one of the biggest. That’s one of the reasons why hybrids are having a moment right now; Business Insider points to the fact that the average cost for hybrids is actually lower than their gas-powered and electric counterparts.

Is This the Entry-Level EV Americans Have Been Waiting For?

The Equinox EV 1LT could shake up the market

With the release of new federal emissions guidelines this month, it remains to be seen how long the hybrid resurgence will remain in effect. Still, as Vox’s Umair Irfan points out, those regulations should also benefit hybrid vehicles and their manufacturers. That’s encouraging news for automakers like Ford, whose strategy seems to have paid off in this moment in automotive history.