Hybrid Sales Up 37% Since Start of Iran War
Reuters reports U.S. sales of new hybrid vehicles have increased along with fuel prices since the start of the U.S.- and Israel-led war with Iran in late February.
In a new Reuters report, Kalea Hall cites Motor Intelligence data showing sales of hybrids such as the Kia Sportage HEV increased by 37% in March and April, far outpacing all new vehicle sales, which increased by 15% in the same span.
Fully electric vehicles did not get a similar boost.
“U.S. sales of EVs rose just 11% in the two months since the war began, below the broader sales pace, Motor Intelligence figures show. EV sales remain far below where they were a year ago, still depressed following the expiration last autumn of a $7,500 federal tax credit,” Hall writes.
Major manufacturers that share monthly new vehicle sales figures with the Automotive News Data Center reported a 6.7% percent year-over-year decline in April.
