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Cheap Gas has Americans Defecting from Hybrids and EVs

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Electrified vehicles may not be as popular in the U.S. as you think.

With gas prices continuing to drop, Americans are turning back towards standard gasoline cars instead of electrified vehicles. According to Edmunds.com, nearly 75 percent of hybrid or electric car owners that traded in their cars hopped into a standard gasoline car. That marks an 18-percent jump compared to 2015, despite more electrified vehicles being available in today’s market. A likely reason for the change of heart is the continual drop of gas prices and the fact that many electrified vehicles still demand a premium over traditional gasoline cars.

SEE ALSO: Toyota has Sold Over 9M Hybrids Worldwide

There are approximately 442,000 electrified vehicles on today’s roadways in the U.S., a far cry from the one-million goal President Obama set for 2015. So far in 2016, electric and hybrid sales have dropped 2.4 percent when it comes to new-car purchases.

The New York Times reports that hybrid owners are having a difficult time getting rid of leases on hybrids like the Toyota Prius. Others have turned to crossovers and SUVs as their families grow.

Still, it will be interesting to see if perceptions change with the introduction of the Tesla Model 3 to the market, or even the Chevrolet Bolt. Considering Tesla received nearly as many pre-orders as there are electrified vehicles today, things could be changing around the nation. That is, if the affordable Tesla and fully electric Chevrolet live up to expectations.

[Source: The New York Times]

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