US hybrid car sales rise as gas prices climb

Hybrid vehicle sales in the U.S. have jumped as rising fuel prices lead more consumers to look for efficient cars, Reuters reported.

Hybrid sales rose 37% in the two months after the Iran war began on Feb. 28. This growth was faster than the overall car market, which grew by 15%. Gas prices climbed above $4 per gallon in late April, hitting a four-year high.

Interestingly, fully electric vehicles have not seen as much demand. EV sales grew 11% during the same period, which is less than the overall market. Sales are still lower than last year because the $7,500 federal tax credit ended.

The trend in the U.S. differs from that in Europe, where EV sales are growing faster. Analysts say this is because Europe has more affordable EVs and stricter emissions rules. With growing consumer interest in both hybrids and EVs, online searches for these vehicles have increased in recent months. Analysts say rising fuel prices are reinforcing an existing shift toward hybrid models.

However, Americans’ love for big trucks still persists. Even with higher fuel prices, large pickup trucks remain in demand. Sales of these trucks rose 20% in March and April compared to February, partially due to discounts on gasoline models.