Though sales of all-electric vehicles continue to rise, the growth in demand for those same models has trailed behind expected levels throughout much of 2024. This has prompted many automakers – including Ford – to scale back their planned investments in EVs, as well as delay or even cancel certain models. A handful of recent studies have found that Americans still prefer traditional gas-powered vehicles over hybrids and EVs, and even found that certain EV owners are a bit unsatisfied with their purchase. Now, another new study has found similar results among gas-powered vehicle owners in terms of loyalty.
This news comes to us from S&P Global Mobility, which leaned on its own automotive loyalty data to try and determine which direction car buyers are going when it’s time to purchase another vehicle. Looking at new vehicle registrations and return-to-market activity, it found that since 2020, more hybrid and EV owners are returning to those same vehicles with each passing year at a growth rate of around one percent annually.
However, 82 percent of those that owned a gas-powered vehicle before are purchasing another gas-powered vehicle, while nine percent chose a hybrid and six percent went with a full-blown EV. As for hybrid owners, 41 percent stuck with a hybrid, while 41 percent went back to a pure gas model, and 15 percent purchased an EV. EV owners remain quite loyal, with 68 percent choosing to stick with that type of vehicle, though without Tesla included, that figure drops to 47 percent.
This data helps explain the motivation behind Ford’s recent moves, which include expanding its hybrid lineup to include every ICE-focused Ford Blue model it currently offers by 2030. As the market develops, Ford plans to continue to offer a full array of powertrain options, however, though it recently canceled plans to build a pair of all-electric three-row crossovers, instead opting to replace them with hybrid variants.
We’ll have more data like this to share soon, so be sure and subscribe to Ford Authority for continuous Ford news coverage.
Comments
Ford, and many other manufacturers have taken an “I build what you will get and you like what I offer”. This is so contrary to a market-based economy, it’s no wonder Ford and others are finding paltry acceptance of Hybrids and EVs. Let’s see. ICE vehicles have traditional performance characteristics, and unlimited range. Hybrids have a joke of an engine and almost no electric range – no real fun in either segment. EV vehicles boast fine performance – usually better than ICE, but crappy range.
I have an idea, and unlike Farley and the gang, you don’t have to pay me millions and millions of dollars every year in salary to think it up. Why not a Hybrid, or better yet a Plug-in hybrid with a really good fun-type ICE engine and a hybrid capability with some range. Give me the 250 HP of the 2.0L Eco-Boost plus 100 miles of battery that can deliver another 100 HP to the wheels, the capability to plug in the puppy, and I’ll be at my local Ford store at 5AM tomorrow waiting for them to open.
You see, Mr. Farley, we don’t want to drive a boring car with no guts and no range. Most people are happy with the ICE offerings, so why team your Hybrids with an anemic old-world 4 banger?
That sounds great I said a long time ago Farley is stupid and should be fired period
Some of us…have enough quaility issues already. with all the complicated parts on todays engines..adding a complex hybrid system on adds to it…i betting the next gen car buying person….will this time shop quaility…aka how many recalls…engine problems, transmission issues before buying …this info is out there now….