The Hybrids Are Coming! The Hybrids Are Coming!

Hybrid cars are selling faster than electric vehicles worldwide, according to a recent report. In the US, hybrids made up about 1 in 7 new cars sold last year, up from less than 3 percent in 2020. They're even bigger sellers elsewhere: almost half of new cars in Spain and more than half in Japan. Toyota, the maker of the RAV4, no longer builds a gas-only version of that model in the US, and demand is strong enough that used ones are reselling for more than buyers originally paid.

Part of the appeal is cost and convenience. Regular hybrids typically cost $1,500 to $3,000 more than a gas-only version, refuel at any gas station, and use no home charging equipment. Plug-in hybrids, which can run on battery power alone for a stretch (Toyota's RAV4 Prime goes about 50 miles), cost roughly $5,000 more than a standard hybrid but let many drivers skip the gas pump for weeks at a time. Rising gas prices, tied partly to the closure of the Strait of Hormuz, are adding to hybrid demand as well.

For a homeowner weighing a car purchase, the practical difference is this: hybrids need nothing extra at home, while plug-in hybrids and full electric vehicles can be charged by plugging into a regular wall outlet overnight, with no electrical panel upgrade or dedicated charger required. Electric vehicles use no gasoline at all, which is the biggest source of fuel savings if that's the main concern.