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Demand for hybrid cars is in the fast lane while Aussies hit the brakes on electric vehicles – both in the new and used markets. With increasing concerns around EV pricing, range anxiety, and infrastructure, hybrids are emerging as the middle ground for many motorists. According to data from thebeep.
com.au , Australia’s hybrid market has grown by 60 per cent since 2023, outpacing other segments and emerging as an alternative for consumers who are hesitant to buy an EV. It’s easy to see the appeal of a hybrid vehicle.
They balance petrol and electric technology to offer fuel savings and reduced emissions without the limitation on range or infrastructure concerns. As of today, 195 hybrid models are available in Australia, representing 15.4 per cent of the market.
This is a substantial jump from the 9.9 per cent market share hybrid held at the beginning of 2023. Toyota is leading the hybrid drive with 40 models on the market.
Their success is evident in the popularity of the Toyota RAV4 hybrid . Toyota’s vice president of sales, marketing and franchise operations, Sean Hanley said the August sales results solidified the appetite for hybrid technology. “Our strategy is all about offering choice to meet the needs and desire of all Australian customers, leaving no-one behind,” he said.
“This includes our extensive hybrid range headlined by the addition of a new Camry, the space, style and comfort of our SUVs, and the ability to tow heavy loads and get off the beaten track in one of our four-wheel drives.” Co-founder of The Beep, Rob Leigh said Toyota’s RAV4 hybrid strategy is bold but clearly resonates with buyers. “The Toyota RAV4 Hybrid is the most popular hybrid model, however they only offer the hybrid drivetrain.
“They’ve built the technology into their price so consumers don’t have a choice, but the strategy has clearly worked,” he said. But the Japanese automaker isn’t the only brand investing heavily in this space. Toyota’s luxury arm, Lexus, follows closely behind with 27 hybrid models on offer.
Other major players include Hyundai, Land Rover and Porsche, each offering 13 models. Hybrid market What makes hybrids so appealing right now is their practicality but they will come at a slightly higher cost. According to thebeep.
com.au using averages based on Victorian based models, hybrid models cost an average of $6,125 more than their petrol counterparts, and it will take approximately eight years of ownership for the hybrid break even with the cost of a comparable petrol model. But not all hybrids will cost this much more, several are only a few thousand more.
Despite this, hybrid owners can save an estimated $800 per year in fuel, making them a smarter choice. In saying all of this, hybrids are extremely affordable, especially in comparison to EVs. The increased popularity of hybrids isn’t just in the new car space but also applies to the used car market.
James Voortman, chief executive of the Australian Automotive Dealer Association said August data reveals that despite used car sales down by 3.6 per cent from the previous month, hybrid sales are rising. “There are some correlations to the new car market in terms of popularity of hybrid vehicles with hybrids experiencing an increase in sales, while petrol, diesel and electric all experienced a drop in sales,” he said.
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