U.S. hybrid sales outperform electric vehicles in April 2021: HIS Markit

U.S. hybrid sales outperform electric vehicles in April 2021: HIS Markit

Sales of battery-powered electric vehicles (BEVs) have seen a significant growth in the United States over the recent past; however, it is not the only growing segment of the automobiles as conventional hybrids are also growing at a fast rate.

IHS Markit Limited, an American-British information provider headquartered in London, said in its newly published report that for the month of April that the total market share of BEVs, PHEVs and HEVs reached a new monthly record of 8.4 per cent of the overall auto market.

In the segment of BEVs, a total of 35,043 units were delivered to customers during the month of April this year. The figure represents a market share of 2.4 per cent. As mentioned above, BEVs were not the only electrified vehicles that enjoyed sales growth in April. HEVs were seen growing at an even higher rate. A total of 92,965 units of HEVs were sold during April, which represented a market share of around 6.1 per cent.

An analysis of the aforementioned figures revealed that the ratio of the total volume of hybrid vehicles to plug-in car sales stood at 2.65:1 in the month under review. While IHS Markit didn’t make it clear what it included in the category of plug-ins, one can easily assume that the American-British information provider counted both BEVs and PHEVs in the plug-in category.

In Europe also, hybrid vehicles are ahead of plug-ins. Hybrids are growing quite swiftly because manufacturers are launching more and more new hybrid models as a large number of people opt to switch from conventional internal combustion engines (ICEs) to hybrids instead of directly switching to fully-electric alternatives.

The newly published IHS Markit report underlines hybrid powertrain (both gasoline and electricity) out-performed fully-electric vehicles, based on multiple metrics.

In the report, IHS Markit elaborates, “In April, hybrids accounted for 6.1% of all new vehicles registered, more than double EVs' share of 2.4%. Even more impressive, the share of hybrids in the US market has more than doubled compared to the same time frame in 2020, climbing from 2.3% a year ago.”

The volume of hybrid sales jumped more than five times from 17,591 units in the first four months of 2020 to 92,865 units in the same four-month period of this year.

Providing a broader perspective on the market, IHS Markit also predicted that both segments, viz. hybrids and plug-ins, would continue to expand significantly for the several years to come.