The first rounds of sales reports are in for January and, while the market overall was mixed, the one standout piece of data so far is that if you sell a hybrid you probably had a great month because everyone wants hybrids.
Seriously, I keep looking at automakers and being surprised at just how well hybrids are performing. I know I said that 2024 was going to be the Year of the Hybrid, but… that seems to be happening faster than I expected. I’m not even cherry-picking the data!
You know who else has noticed this? Toyota, a company that isn’t offering much in the way of electric cars in the United States because it’s too busy dunking on its competitors with its huge hybrid lineups.
What else do we have for The Morning Dump? Oh, Italy and Stellantis continue to beef. And Hemmings may have a solution for the annoyance of selling cars online.
Maverick Sales Up 98%, Tuscon PHEV Sales Up 927%, Et Cetera
Not every automaker reports monthly sales anymore, but the good news is that Hyundai, Honda, and Ford are out with their sales reports (and we have some data from Toyota) so we can make some reasonable conclusions about the market.
In particular, we can see how electric cars are performing relative to hybrids. If you’re TEAM HYBRID you’re gonna be quite happy reading the sales reports as they come in this week.
Up first we have Ford. The company as a whole was up 4.3% thanks to a slight lift at Ford and a 20% year-over-year increase from Lincoln. Which vehicle was the biggest gainer? That would be the Ford Maverick, a truck that fulfills a lot of what the market wants:
- Is a truck.
- Comes in a hybrid.
- Is affordable.
This all makes sense to me, though it’s also worth mentioning that the 98% rise in year-over-year sales does owe something to the slow pace of production at Ford’s Hermosillo plant prior to the end of last year. Ford’s since added another shift and is finally cranking out new trucks at a higher rate, though apparently not fast enough to meet market demand.
Ford doesn’t break out hybrid v. non-hybrid sales by vehicle, but it does give us those numbers overall. In January of 2024, electric vehicle sales were down 10.9%, while regular gas-powered cars were only up 2.6%. And hybrids? Up 42.7%!
This trend continues at Hyundai, which actually had a down month as the company ran a little short on supply and faced a slightly tougher market:
“Coming off a record-breaking 2023, January was a difficult month with economic challenges and interest rates making it a tough retail environment,” said Randy Parker, CEO, Hyundai Motor America. “There were bright spots with sales of electric vehicles and plug-in hybrid achieving substantial year-over-year growth, and our all-new Santa Fe starting to arrive at dealerships.”
Hybrids did super well, with the Tucson PHEV up 927% and the Santa Fe PHEV up 273%. Hyundai’s electric cars did pretty well, up 41% year-over-year (it probably helps that the Iconiq 6 is now on sale). You know what did better? Of course you do. When you combine PHEV with BEV sales, the total increase is 77%.
Hyundai needs a PHEV Santa Fe. Just saying. Make it happen.
We know, via Automotive News, that Toyota’s North American sales were up 23.3% month-over-month, but I don’t have a breakdown of hybrid v non-hybrid yet. I do have the data for Canada and it shows hybrid sales way up as well ( RAV4 Hybrid (up 298.4%), RAV4 Prime plug-in hybrid (up 389.5%), Tundra Hybrid (up 116.5%), Prius family (up 782.1%) and Corolla Hybrid (up 38.0%) et cetera).
The same is true at Honda, with both the CRV and Accord hybrid posting their best-ever January sales.
It’s hybrid time!
Toyota Is Extremely Happy About This Hybrid Thing
Look, Toyota isn’t having the best month, but the future’s so bright that Akio has to wear shades. The company’s huge portfolio of hybrids, including a new hybrid-only Camry to join the hybrid-only Sienna, is a big reason.
Of course, the downside is that sometimes you have to wait for your car, as Reuters reports:
But demand for hybrids is so strong that buyers have to wait for about a year to get deliveries of some models such as the Toyota Sienna multi-purpose vehicle, and pay full manufacturer-suggested retail prices, he said.
In stark contrast, Tesla, which has been offering sharp price cuts since last year in major markets including the U.S. and China, suffered a vehicle margin reduction last quarter and warned of slowing EV demand this year.
Hybrids accounted for 9.3% of new light vehicle registrations in the United States from January to November in 2023, outstripping those of EVs by 1.8 percentage points, according to S&P Global Mobility data.
I haven’t seen a huge price increase for hybrids across the board and, in fact, transaction data shows hybrids are a net cost savings to return-to-market buyers.
Toyota obviously can’t sail on hybrids forever and needs a good solution for electric cars which may end up being solid-state. Who knows?
Italy V. Stellantis, Part 29
I wrote yesterday about the Italian Industry Minister (pictured right) saying the country would put up money for a stake in Stellantis, which seemed like a positive step in the country’s beef with the increasingly less-Italian carmaker.
I should have waited a day, because it doesn’t seem like the beef is getting cooler. The beef is, in fact, getting full carbonade valdostana.
Again, via Reuters:
Speaking in the northern city of Trento, Adolfo Urso said Stellantis had an “unbalanced, absolutely not equal” shareholding structure between its French and Italian stakeholders.
This bugs the hell out of the Italian government, and Stellantis CEO Carlos Tavares (pictured left) is quick to point out that Volkswagen besting Fiat in Italy for the first time in like 100 years could be solved with more incentives.
Noting that Stellantis’ strongest brand in Italy, Fiat, in December was for the first time in almost a century not Italy’s top selling brand, losing the title to Volkswagen, Urso said this was not down to insufficient government subsidies.
“The problem is not with the government, but with the (Stellantis) group. It’s a problem for the company, which evidently needs to review its marketing policies and its models – they should do so”.
Someone grab the polenta!
Hemmings Might’ve Solved The Most Nerve-Wracking Part Of Buying A Fun Car Online
Here’s a fun entrant from Thomas:
Buying a fun car online can be simultaneously a joyous and a terrifying experience. After all, you’re spending a lot of money in one place, and there’s often no face-to-face contact with sellers, but if everything goes right, you’ll end up with something that really tickles your fancy. So, if you can’t get eyes on a car that’s for sale online, how can you be absolutely sure that you won’t get screwed? Well, Hemmings has a possible answer.
The collector car ad giant is now offering car-focused escrow service Keysavvy to buyers and sellers under the name Hemmings Pay + Title for a flat fee of $299. If you aren’t familiar with escrow, these firms often verify the identities of buyers and sellers, hold ownership documents or cash independent of sellers and buyers, then complete the transaction once the other party has held up their part of the deal, be it the legal ownership documents to the vehicle or the money required to purchase the vehicle.
In operation, this service is a little bit more than basic, because it includes an electronic bill of sale, and it works a bit differently than just receiving a signed title. Keysavvy is a registered vehicle dealer, which means they do all the title processing while the title’s in escrow, which should mean that you won’t have to wait in line at the DMV.
Escrow services aren’t anything new — just ask the real estate industry. However, directly integrating an escrow service into an online collector car marketplace is new, and substantially different to how the game is currently played. For example, here’s how it works on Bring A Trailer:
The 5% buyer’s fee is paid via the credit card on file at auction close. The transaction for the winning bid amount is between the buyer and the seller. At the close of auction, the winning bidder and seller will receive each other’s contact information via email. We recommend that the seller send the buyer a photocopy of the title and a bill of sale prior to the buyer sending payment. For payment, we recommend a wire transfer, and we’d also recommend that bidders considering alternate payment methods contact the seller to discuss prior to bidding. In general, buyers are responsible for shipping, applicable taxes, registration fees, and other costs associated with vehicle acquisition.
In this arrangement, there’s a lot of trust put into the buyer and seller both being legitimate. While online auction sites vet sellers and have credit cards on file for buyers, situations like winning bidders flaking or cars and sellers not honoring winning bids have happened in the past. Oh, and that’s before even getting into buying a car from a standard online classified ad, where vehicles may be misrepresented or out-and-out scam listings.
Obviously, using an escrow service just isn’t necessary for most online car purchases. If you’re able to check out the car in person, have a pre-purchase inspection done by a third party, or pay for the car in person after seeing it and meeting the owner, you can get some proof that the car actually exists and that there aren’t any title issues before you sign on the dotted line. However, for more expensive purchases you simply can’t get eyes on, using an escrow service is a solid practice.
So, let’s say you want to buy a fun older car online without getting screwed, but it’s not listed on Hemmings. Well, good news. Several escrow companies already have experience in automotive transactions, with Escrow.com being reputable and one of the most experienced in the business. Its service fees vary based on the value of the transaction, but for a $30,000 car, you’re looking at an escrow fee of $267.
It’s refreshing to see Hemmings partner with an escrow service, because using an escrow service is a great way to weed out bad actors who want to take advantage of automotive enthusiasm for pure financial gain. It would be massively confidence-inspiring to see other online marketplaces pull similar moves, because as it stands, buying and selling cars online can still be like the wild west.
What I’m Listening To While Writing TMD
This is now the 40th anniversary of “Synchronicity,” the final album from The Police. While I’m more of a “Regatta de Blanc” guy, it’s an enjoyable record and extremely Sting. Full-on, shirtless Sting. The whole slow-motion dancing-with-candles thing in the video, like the whole album, is absurdly overdone. Not even in a bad way. I’m into it. Also, there’s a lot of mythology in “Wrapped Around Your Finger,” so you get absurd lyrics like:
You consider me the young apprenticeCaught between the Scylla and Charibdes
Still a great jam.
The Big Question
What is the hybrid you’d most want to buy right now? Do you actually own a hybrid? Are you planning to buy a hybrid?
I’d be open to a hybrid, almost surely would go that way if I bought a new vehicle that wasn’t a manual. There’s not a ton of models out there that quite strike me as “gotta have it” though. The upcoming Civic hybrid would be closest, but if I’m going Civic I’m more likely going for it with/because of the manual availability. But experience with a Niro in the family has been good, and I know a couple people that have shopped or shown interest in hybridized vehicles specifically and are focused on only those powertrains.
I have a 2023 Santa Fe Hybrid in the lowest “Blue” trim.
It’s the best (non-project/fun) car I’ve ever owned.
It’s quicker than you’d expect, it’s more fun to drive than you’d expect (6 speed auto), it has a mechanical AWD setup with a lock button, very good adaptive cruise system, etc.
I’m averaging low 30’s to low 40’s MPG, depending on conditions. It also has a decent sized tank, so you can get up to 600 miles on a tank.
If I were to purchase a new vehicle, I’d buy a new Prius because it’s the best looking vehicle on the market today, followed shortly by the Nissan Z, and then everything else is incredibly ugly.
That said, I’m not in the market to ever buy new and I don’t much care if the vehicle I drive is electric, hybrid or gas, a 4 mile commute only pays for whatever the cheapest vehicle is.
Oh not to worry, GM maybe will have a new PHEV hybrid on the market in a couple of years. Maybe even quicker if they rebadge something out of China.
I own a Volt PHEV, 2007 Prius, and Bolt EV
After my tax return comes in I’m getting a used Mustang Mach E. With Ford getting access to the Tesla charging network, infrastructure will finally be good enough to go full electric for my main car. I don’t road trip super often so I’m not worried about adding an extra hour or so to one.
If I had to go hybrid again I’d get a Maverick, but honestly after having a real EV, I don’t want a hybrid, I want to keep getting full EVs. Actually owning and driving one makes a believe out of people
Hybrid? Electric? Car? Truck? Swoopy SUV/Car thing? My kids are grown and my commute is only 3 miles, so “what car are you going to buy” (later this year) has me all over the map. Slightly used: Genesis G90 (or G80, G70, GV80), e-tron, I-Pace, Ioniq 5/6, Cayenne Hybrid, QX55, X4/X6, Stinger GT2, Polestar 2, Sonata Hybrid…. I’m not into trucks but the Ram 1500 in S-Class trim (Limited) is also on my list. I might try out purchasing online as I’m mainly looking at fully loaded, top trim levels and some of those won’t necessarily be available locally.
I don’t put many miles on a car anymore (2,000-4,000 a year) so, while I would love to get a plug in hybrid, the price premium may not be worth it over the gas models.
Just bought an Elantra Blue hybrid 3 weeks ago. Gotta say I’m pretty impressed. I really wanted a Maverick hybrid, but dealers in my area were asking 10k over msrp. The Elantra is a feature-packed car for 25K out the door.Thus far I’m averaging 52 mpg, Coming out of a 2011 Mini Cooper R56 6SM, I gotta say my driving style has changed a little. Lots more lift-and-coast. I traded fun for mileage. It’s a different game, especially if you leave the display on energy flow. But the little Hyundai can dance when asked. Overall I’m thrilled with the switch.
Currently have a 2019 Fusion hybrid. It’s completely fine, but I don’t love it.
What I’d love is an efficient hybrid coupe or convertible. Pretty sure that limits me to the long gone Honda CRZ. Off the top of my head, all current two door hybrids are set up for moar power (not to mention six figures more than I’m willing to spend), and the efficient cars aren’t impractically stylish. That’s important, damn it!
Would’ve been nice if the current gen Mustang came hybrid, as was rumored years back, but alas, wasn’t to be.
My 2020 Fusion PHEV is working out great. But yes, a hybrid (preferably plug in) sporty car would be even better.
This is why the recent announcement of the upcoming Prelude has piqued my interest.
Oh what I’d give for a Miata EV
This is the EV I’m actually waiting for. Small, light, not overly powered, great handling.
We currently own two hybrids, a 2020 AWD Prius, and a leased 2021 Rav4 Hybrid on lease until May. We want to replace the Rav4 with a Rav4 Prime. They are just plain not available to go take a look-see-drive. This is for my spouse, not me, and my spouse is considering a Lexus Plug-in as they are available enough to arrange for a test drive. We may have to extend our lease for a few months while waiting for an order for a Rav4 Prime to arrive or spend an extra $10k for a Lexus.
I just wanna say the obviously mislabeled photos always crack me up. A blackjack dealer, the Italian Industry Minister, I don’t know why but they’re a fun gag
I’ll take a hybrid that burns gas AND rubber
Wish I’d known about that escrow option when I bought my GTO over the summer. That would have saved me a lot of time and headaches. Possibly money as well, but definitely time and headaches.
I really want that TUSCON PHEV on the headline. Called multiple Hiunday dealers but none seems to know about this model
I’d like a hybrid for my next car, I’m lucky to get high teens per gallon in my Town & Country. A Prius V would be nice but they’ve shot up in price significantly since I was last looking for a car three or four years ago. Used to be $8k~ for a clean one with 150k miles, now 8k gets you a poorer condition one with 200k miles. All the clean lower mile ones are at least $12k now. I wish Toyota would just bring back the V. A Malibu hybrid was also on my radar but despite it only being discontinued four years ago, GM barely supplies parts for it. The hybrid battery is perpetually out of stock and it’s hard to get the exhaust gas heat exchanger that is supposed to make running the car in the winter more efficient but fails somewhat regularly and costs 700 for the part alone. I’ll likely just get the cleanest Camry hybrid I can find.
No hybrid as yet, but there is doubtless one in my future. Whenever my wife’s 2016 Honda Fit gets sent to it’s next home, she’s likely going to get something that’s Honda and hybrid. It’ll most likely be the upcoming Civic, but I wouldn’t rule out a CR-V or Accord.
For me, I’d prefer to see a midsize truck that gets more of an MPG boost than the new Taco Hybrid and at least 6000 lbs tow rating before I make that jump… but my Ridgeline has at least another 8-10 years in my care.
GM really dropped the ball not putting the Voltec hybrid system in their trucks. I’d love a plug in Colorado
Nothing firm from GM, but it may be coming after all. After Mary Barra said they were reserving course on hybrids, some industry insiders are expecting they’ll focus on trucks and small crossovers. Trucks are high margin and the small crossovers can benefit from their R&D in China.
I took that to mean the Silverado. The Colorado seems to be the red headed step child that never gets the cool tech
Gen1 Colorado was kind of an also-ran, but they did put some effort into Gen2. Gen3 has all sorts of goodies and seems to be treated on par with the full size trucks.
Of the current available crop, I like the Corolla Cross hybrid, at least based on its reviews and its price. But I’m not in the market for anything unless my 2015 Fit is totaled (God forbid).
It’s hard to covet a hybrid when your regular gas car gets 40+ mpg and is so surprisingly spirited.
You bet!
[Don’t forget the dealer markups!]
This situation is ridiculous because the Sienna is only offered as a hybrid. Every trim, every unit that rolls off the line is a hybrid. So it’s not a RAV-4 situation where there is a product mix on the same line, and the hybrids are capacity-constrained as a result. Nope, the Sienna line only makes hybrids.
When the Sienna was gas-powered, they could make enough of them…and they made a lot! I get that the new hybrid model is more desirable now (even to me), but I refuse to believe that the demand has increased SO much that the factory ran out of capacity. I think Toyota is doing some manipulation of their own market here (shocker, I know).
I had two Toyota Matrix XR’s for a total of 13 years. I’d be into the Corolla Cross Hybrid if it wasn’t so homely.
When Summer, give or take a season, rolls around I’ll be buying something. In the hybrid category I have a few ideas.
There should be some indenting, but IDK why it didn’t.
Honda CRVSeems solid choice, but not very exciting performanceFord F-150The hybrid drivetrain seems solid, but Ford seems hell bend on setting manufacturer records for recalls and crappy decisions for material/design.Toyota TundraThey’ve been more over priced than others for a while, but maybe if the OTD price comes down.Toyota TacomaPrice and availability is going to be stupid crazy for a while.Toyota HighlanderSee Honda CRV.Toyota CrownIs it a car? Is it a SUV? Maybe the Camry instead for less money if I can live without the upgraded (read: higher HP) option.Toyota Camry 2025.Shouldn’t be as stupid crazy trying to get one as a Taco, but still could be not worth the dealer reindeer games. Please let it have the Hybrid MAX AWD option.Honda Accord (you know that Taurus + Passat looking love child)Ehhh, it’s probably fine.Subaru Outback ?2025?Rumored next gen with a hybrid option. Hope it has some Toyota tech sharing and comes with a Hybrid MAX XT trim. (Here!!! Take my money!!)
I’m very pro-hybrid (I drive an 07 Prius, to answer the big question), but I’m skeptical of some of those sales increases. They sound rather implausible, as if they’re comparing to a previous timeframe where the model in question was not fully available yet. For example, after a quick Google search I can’t come up with any sales figures that support a 782.1% increase for the Prius family. I suspect shenanigans.
I would love to get a more modern hybrid with a little better sound deadening and proper phone connectivity, but my current one is so darn good for the pittance I paid that it’s hard to justify replacing.
Sound deadening and phone connectivity are easily addressed by the aftermarket. Instead of five years of a new car payment, you can solve your problems with less than one or two, three if you’re feeling extravagant.
Maverick Hybrid. Hands down. Finally sat in one at the car show last weekend and found it to be quite nice and roomier than my 2020 Tacoma. Wanted to compare to the new Tacoma but they were all locked.
This! Its amazing how the Maverick has more space than the middle size Tacoma.
Was thinking this but 2wd only for the hybrid
The one that has yet to exist:
A sliding door 5 seater PHEV that can get fantastic energy economy on whatever flammable liquid you put in the tank or whatever cheap joules go into the battery.
This silver striped unobtanium saddled purple unicorn would also have full V2X capability, taps for hot water from the cooling system and hot air from the exhaust for home HVAC. Harness every bit of energy!
The car would also have the hardware to run ad infinitum on piped natural gas or propane such that between the power and waste heat a large house blacked out during a lengthy Minnesota winter or a Texas summer could be as comfortable as if the power was still on.
All this for the price of a bag of fancy peanuts and some ham. I don’t think it’s too much to ask.
What perfect timing. Just signed for a new Corolla hybrid 2 days ago. I personally would have preferred a Prius Prime (or a Volvo V60 Recharge if cost wasn’t a factor), but it will primarily be my fiance’s vehicle and she was in love with the “celestite” color on the Corolla. We “ordered” it back in November with a 4-6 month delivery estimate and got pleasantly surprised (ordered in quotes because Toyota doesn’t do factory orders – dealers just get to put in bids for inventory allocations that sort of match the options that their customer’s want).
I’m also really looking forward to the Honda Prelude.
I want a Sienna (all Hybrid) but Toyota made the second row unremovable, which makes me a sad panda. If I were to ever replace the Voyager, a Sienna would be it as the other thing that makes me a sad panda, is the gas mileage of the Voyager.
Hey Honda, wake up, update the damn Odyssey with a hybrid powertrain and keep the second row removable please.
Updating any of the V6 offerings with some hybrid bits would be wonderful.
I’ve driven hybrids for the past few years. I’m looking forward to the CX-5/CX-50 Hybrid and hoping that Mazda doesn’t do anything too weird with the transmission since they’re anti-CVT (they used a clutch instead of torque converter for packaging reasons in the CX-70/90). They’re rumored to use the Toyota system which has an eCVT, so perhaps they’ll just use simulated gearshifts.