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Hybrid vehicles once again a hot commodity in February, according to auto sales reports

February was a strong month for new-vehicle sales, up nearly 10% from a year ago.
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Hybrid vehicles have been on a hot streak—and they showed no signs of slowing down in February.

Strong sales of hybrid models helped propel numerous automakers to sales gains last month, according to industry reports.

Take American Honda, for example, which posted a 32% YoY sales increase. The automaker’s electrified vehicle sales set a new February record, as did sales of its hybrid CR-V.

Kia’s EV sales rose 65% YoY in February, bolstered by sales of the new EV9 SUV.

“Our innovative EVs and electrified models are gaining market share and demand for our SUVs continues to grow,” Eric Watson, VP of sales operations for Kia America, said in a news release.

Hyundai Motor America had its best-ever February, with sales up 6% YoY, supported by the popularity of electrified models like the Tucson PHEV (sales of which rose a whopping 280%), Tucson HEV, and Kona EV.

“Hyundai’s sales of electric vehicles and plug-in hybrids are steadily rising, with significant year-over-year growth,” Hyundai Motor America CEO Randy Parker said in a statement.

Ford reported its best-ever February hybrid sales, up 31.5% from a year before. The automaker’s EV sales were up 80.1%.

In a statement, the company pointed to the popularity of its Maverick hybrid truck, which notched 6,463 sales last month—more than half of Ford’s hybrid sales in February. And one in five retail orders for the 2024 F-150 are for the hybrid model, the automaker noted.

Analysts at Cox Automotive wrote in a note Monday that the US auto industry sold 1.25 million vehicles in February, up 9.6% YoY, putting 2024 “on pace for the best year of new-vehicle sales since 2019.”

February’s results build on a trend seen in January’s results: the rising popularity of hybrid vehicles amid a slowdown in demand for EVs. Hybrids, which pair a combustion engine with an electric motor, made up 8% of new-vehicle sales last year.

Elizabeth Krear, vice president of J.D. Power’s EV practice, noted in a news release that the slowing demand for EVs is in part because car shoppers say they don’t have adequate access to charging.

“That said, some good news is on the way,” she said. “Infrastructure scores have improved five percentage points, marking the most significant increase in the three years of EV history tracked by J.D. Power.”

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Keep up with the innovative tech transforming business

Tech Brew keeps business leaders up-to-date on the latest innovations, automation advances, policy shifts, and more, so they can make informed decisions about tech.