KBB Says More Shoppers Prefer Hybrids over EVs

As the automotive industry continues to focus on alternative fuel vehicles, a recent study from Kelley Blue Book (KBB) reveals that more car shoppers are considering hybrid models over electric vehicles (EVs).

According to the KBB study, 51% of car shoppers said they would consider a hybrid model for their next vehicle, compared to just 20% who said they would consider an EV. The study also found that 64% of those surveyed cited concerns over the availability of charging infrastructure as a major barrier to purchasing an EV.

This trend toward hybrids over EVs is not surprising, given that hybrids have been on the market for much longer than EVs and are therefore more familiar to consumers. Additionally, hybrids offer a compromise between traditional gasoline engines and electric power, providing a level of familiarity and convenience that EVs cannot match.

However, the automotive industry is still heavily investing in EV technology, with many manufacturers introducing new models and technologies to meet consumer demand for more sustainable transportation options. This presents an opportunity for dealerships to educate and inform consumers about the benefits of EVs, such as reduced emissions and lower operating costs, while also highlighting the advantages of hybrid models.

As the automotive industry continues to evolve, it is important for dealerships to stay up-to-date on the latest trends and consumer preferences. By understanding what types of vehicles consumers are considering and why, dealerships can better tailor their inventory and marketing efforts to meet consumer demand.

“At Cox Automotive, we are committed to providing our dealer partners with the insights and tools they need to succeed in a rapidly changing industry. Our suite of products and services, including Kelley Blue Book, allows dealerships to stay ahead of the curve and remain competitive in an ever-changing marketplace.”

In conclusion, while the KBB study shows that more car shoppers are currently considering hybrid models over EVs, it is important for dealerships to remain informed about industry trends and consumer preferences. By offering a mix of hybrid and EV options, and highlighting the benefits of each, dealerships can better meet the needs and preferences of their customers and succeed in a rapidly changing marketplace.

Source: More Shoppers Consider Hybrids Than EVs, According to Kelley Blue Book