After quickly ranking as one of the most desirable types of vehicles on the planet for a short time, consumer interest in EVs has declined as of late – or, at least, demand has failed to meet that previously-torrid rate of growth. However, EV sales continue to grow regardless, and most in the industry still expect that type of vehicle to eventually claim the majority of market share across the globe. That list includes Ford CEO Jim Farley, who recently noted that he believes the company’s current hybrid customers will wind up making the switch in the coming years.
“But how we look at hybrids is they’re all electric customers in the future. They’re finding electric interesting; they don’t want to change their habits,” Jim Farley said during an appearance on the Everything Electric Show recently. “They can’t do the math about resale value, insurance costs, repairability. So hybrid is an easier answer for their math. But it is a gateway, and many of those customers – especially as companies like Ford offer new, more affordable but very attractive EVs, not compliance EVs. We sell them…they’re not very nice cars. But like, really aspirational affordable vehicles. A lot of those hybrid customers are going to go ‘I’m going to go the whole thing. I like this sense of acceleration. I like going past the gas station.'”
This certainly isn’t the first time Jim Farley has spoken out on the topic of EVs, as the executive recently stated that he believes customers will eventually embrace EVs – and in some separate comments, even said that at least half of the company’s customers would be better off with an all-electric vehicle, which is precisely why the automaker is placing a great deal of hope in its skunkworks team developing a low-cost EV platform.
Despite all of this, a few recent studies have poured a bit of cold water on the EV movement, aside from sales trends. One indicated that more ICE owners switched to hybrids versus EVs last year, and another found that 30 percent of current EV owners admit they’ve considered switching back to ICE, too.
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Maybe PHEV customers but as for hybrids, wishful thinking.
We have a hybrid Maverick.As long as hybrids are available, that will be our choice. NO all electric. Waste of time and money. As my wife says "No full electric". I agree.
Odd that Farley thinks this. This could be a true statement that hybrid customers are future EV buyers, but here's the problem with Ford.....they don't have that many hybrids or PHEVs to start with. They have a few, so Ford can't really get this thought process going when they barely have any on the lots.
Where is the Explorer Hybrid or PHEV? Where is the Expedition Hybrid?
These are all simple things, as they took away the Explorer Hybrid and the Expedition Hybrid should have been included in the 2025 release, as the F150 offers a hybrid.
Farley and Ford need to think FASTER and better because they need new vehicles out that will bring customers back to Ford, as they are leaving for competitors faster than he thinks.
Farley is clueless.
You can own a hybrid without home charging. You can own a hybrid and still make long road trips. You can own a hybrid and not worry about battery degradation.
Hybrid owners are likely to stay hybrid owners, because there's already cheap crap EVs out there (Teslas), and they'd have bought an EV if that's what they wanted.
I don't think PHEV buyers are future EV buyers either. You buy a PHEV, hybrid, or EV based on what your driving situation looks like. It's only if your driving needs change that people will switch.
Yeah, Farley knows...NOT. The stock prices show the Farley effect on Ford. He is destroying the company with one bad decision after another. Did he check the grid lately? It can't support the population now in weather extremes. He is just a clueless man making a ton of money while destroying a good brand. Breaks my heart as a proud Ford owner for a lot of years.
I've owned a 2014 Fusion PHEV, a 2020 Escape hybrid and now a 2023 Santa Fe Limited PHEV. I have test driven a Ionic 5 EV before I bought the Santa Fe.
So yes thought about a EV but didn't buy.
I agree completely. We have a hybrid. Love it. Couple of neighbors have all electric and PHEV's. Not so happy.