I think you miss the point.
The large number of hybrid vehicles, especially in the low $25k new segment (ex: Corolla Hybrid) are selling like hotcakes right now, even when EVs and other vehicles are having trouble today.
EVs are $5k, $6k, $9k+ lower priced in just the last few months across multiple brands. They're getting chewed up in terms of profits right now. Its why EV stocks (TSLA, RIVN and LCID) dropped so much in the past few months. The numbers are in and... they're ugly. EVs are doing poorly.
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> Hybrid sales rose much more quickly than EV sales last year, up 65% to more than 1.2 million, according to Cox Automotive. While Americans bought the same number of purely battery-powered EVs, that segment's growth was just 46% year-over-year.
> Shoppers in the market for a hybrid are also much more likely to pony up more cash for these cars.
So Hybrids are growing faster than Electrics. Furthermore, Hybrids are cheaper to make, and sell for higher prices. Its turning out to be an excellent business decision for Toyota.
The large number of hybrid vehicles, especially in the low $25k new segment (ex: Corolla Hybrid) are selling like hotcakes right now, even when EVs and other vehicles are having trouble today.
EVs are $5k, $6k, $9k+ lower priced in just the last few months across multiple brands. They're getting chewed up in terms of profits right now. Its why EV stocks (TSLA, RIVN and LCID) dropped so much in the past few months. The numbers are in and... they're ugly. EVs are doing poorly.
--------
> Hybrid sales rose much more quickly than EV sales last year, up 65% to more than 1.2 million, according to Cox Automotive. While Americans bought the same number of purely battery-powered EVs, that segment's growth was just 46% year-over-year.
> Shoppers in the market for a hybrid are also much more likely to pony up more cash for these cars.
So Hybrids are growing faster than Electrics. Furthermore, Hybrids are cheaper to make, and sell for higher prices. Its turning out to be an excellent business decision for Toyota.