Hybrid Vehicles: The ‘Just Right’ Solution?
- Hybrid inventory surged an estimated 19% YoY, solidifying hybrids as the fastest-growing powertrain as automakers emphasize affordability and efficiency.
- Top hybrid searches were led by the Toyota Land Cruiser (11%), Camry (9%), and Civic Hybrid (4%).
- EV availability expanded sharply with 16% YoY growth in new EV inventory and a 41% jump in model count — 69 models vs. 49 last year.
- Used EV inventory climbed 24% YoY, but pricing fell 6% YoY, led by Tesla’s 13% decline.
- Shopper interest diversified across 76 different used EV models, up from 58, while electric trucks like the F-150 Lightning and Rivian R1T ranked among the highest-demand used EVs despite premium average pricing of $62,733.
Hybrid vehicles are the fastest-growing powertrain by inventory. Automakers are increasingly leaning on hybrids as a bridge to full electrification, balancing affordability, fuel efficiency and reduced emissions without requiring charging infrastructure.
Among the hottest hybrid models:
- Toyota Land Cruiser (11% of new hybrid searches): A revived nameplate comes with a standard hybrid powertrain.
- Toyota Camry (9%): The sedan is now standard with a hybrid powertrain, offering an affordable alternative to SUVs.
- Honda Civic Hybrid (4%): Back for 2025, it offers hybrid efficiency in a compact package.
As EV demand fluctuates and tariffs remain uncertain, hybrids may be the “just right” solution for many consumers, combining lower costs with improved efficiency.
EVs Keep Expanding — But Consumers Have More Choices Than Ever
The EV market continued its upward trajectory in February, with EV inventory growing 16% year over year and shoppers now able to choose from 69 different models, up from 49 last year — a massive 41% increase. While searches for new EVs surged 25% YoY, incentives and tax credits are likely pulling demand forward as consumers try to take advantage of deals before potential policy changes.
More affordable EVs are also on the way, with models like the Toyota bZ3X and Kia EV3 entering the market at around $40,000 before tax credits and incentives. Meanwhile, Ford and VW have been aggressively discounting their EVs, helping drive faster sales. The takeaway? EVs are more available than ever, and competition among automakers is heating up.
The used-EV market has exploded, with inventory up 24% YoY in February, and while searches are up 12% YoY, demand has taken a more nuanced turn. Searches for used Teslas are down 16% month over month and 7% YoY, signaling that consumers are now exploring a wider variety of used EVs, with 76 different models to choose from — up from 58 last year.
Electric trucks are stealing the spotlight in the used market. The Ford F-150 Lightning, Tesla Cybertruck and Rivian R1T ranked 7th, 9th and 12th in popularity among used-EV searches relative to available inventory. However, these trucks don’t come cheap — their average price sits at $62,733, compared to $31,891 for other popular used EVs.
Meanwhile, BMW’s i4 and i5 models are flooding the used market, boosting overall used-EV inventory and raising the average used EV price by $841. Still, despite more availability, used EV prices have dropped 6% YoY, with Tesla leading that charge with a 13% price decline.
