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Consumer Interest In Electrified Vehicles Remains High

While most automakers – including Ford – are laser-focused on all-electric vehicles at the moment, it isn’t just EVs that have found a foothold in the marketplace. Hybrids and plug-in hybrids are also gaining in popularity, partly due to rising gas prices, which is precisely why The Blue Oval plans to continue making and selling them for the foreseeable future. A number of FoMoCo models have remained stalwarts on Kelley Blue Book’s list of the most considered electrified vehicles in recent months as well, including the Ford F-150 Lightning pickup, Ford Maverick compact pickup, and Ford Mustang Mach-E crossover, which are conquesting customers from other brands at a high rate. Now, new data from KBB shows that consumer interest in electrified vehicles hasn’t let up one bit.

In the third quarter, 27 percent of new vehicle shoppers considered an electrified vehicle, which is slightly below the record of 28 percent set in Q4 2021 but the same as Q2 of 2022. Hybrid vehicles matched a peak of 20 percent last quarter, while EV consideration dropped from 13 percent in Q4 2021 to 12 percent in Q2 2022 and 11 percent last quarter.

In terms of sales, electrified vehicles grew by 12 percent last quarter as overall new vehicle sales remained flat, with market share improving from 10.8 percent to 12.1 percent year-over-year. A large percentage of that growth was driven by EVs, which saw a healthy sales increase of 68 percent. In fact, EV sales nearly matched hybrid sales – 205,682 versus 206,072, a big change from last year, when EV sales only came in at around half of hybrid sales.

This Q3 electrified-vehicle shopping data is sourced from the most recent Kelley Blue Book Brand Watch report. This consumer perception survey also weaves in shopping behavior to determine how a brand or model stacks up with its segment competitors on a dozen factors key to a consumer’s buying decision. Kelley Blue Book produces separate Brand Watch reports for non-luxury and luxury brands each quarter.

We’ll have more insights like this to share soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Ford Owner

    Hybrids are the best way to get out of the gas only culture and get into the electric driving culture. A hybrid owner will never buy a gas only vehicle again, but will buy a plug in hybrid or a fully electric one.

    Reply
    1. RWFA

      Agree, it’s a decent transition technology. But I rather think that it will soon be superseded by full BEV as it’s just not really economical to engineer a platform that supports both hybrid and BEV.

      Reply
      1. Mike says...

        I might add this emerging tech is still a work in progress. The ultimate test will highlight the convergence between govt. policy (read support for), adoption of global climate change initiatives and most importantly, consumer acceptance. It is a big helicopter with a lot of moving parts so to speak. Personally, I think the move to electric will be a bunch of baby steps only because high density population centers are a long way away from providing enough plug-in points. If this was the case, gas/electric hybrids would likely be the most popular choice as no plug-in is needed. Finally, the petroleum industry lobby is just too big to up and go away… it doesn’t work that way on so many levels of the economy.

        Reply
    2. Sammy

      A recent 5 year study in California showed that most hybrid owners switched back to gas. The study can be looked up on the web.

      Reply
    3. Duane

      My wife and I have 2 Hybrids. She has a Focus Energy and I have a new F150 Hybrid. We will stay with Hybrids but we don’t feel full electric is a good option yet.

      Reply
  2. EcoBoost29579

    Buyers are buying ANYTHING that they can get their hands on and have been for 2 1/2 years. Any sales data during that time is unreliable. Manufacturers are sending more chips to EVs so it’s an apparition.

    Reply
  3. Martin K

    The data shows the sales numbers are small. This is because the small group of people who want EVs are buying them now, then that small group will fizzle out. Most of our friends are ordering diesel trucks, they get 9mpg better than the gas engine option so still worth it to them.

    Reply
  4. Jim

    I bought a Prius 2 years ago. I’ve averaged 55mpg city and highway and enjoy the car and mileage. I ordered the Maverick to replace my large pickup that seldom use because of the mileage. A fully electric vehicle restricts mobility over 100 miles away. This may change but it will be too costly and inconvenient in the short term.

    Reply

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